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Buffalo developer hopeful for Statler Towers

By Joyce Kryszak

Buffalo, NY – Governor David Paterson was in downtown Buffalo Tuesday promoting new laws encouraging smart growth.

One of the laws signed earlier this month prevents state agencies from backing economic development plans that continue sprawl. Another encourages out of state developers to invest in New York's urban areas. And a third gives historic preservation tax credits.

But Paterson said even urban development needs to be planned wisely. He said isolated development does not work.

"It doesn't even work in the inner city," said Paterson. What you have to have is a kind of cluster development which inevitably creates resources, it circulates the economic dollar within the community and you start to see wealth and you start to see growth."

He pointed to the Statler Towers as an example of what would be a smart investment. Mark Croce is one of two developers working on a deal to buy and renovate the iconic building. Croce said with the new laws there is reason to be hopeful.

"We have a long way to go, but people want to play here, they want to work here again, they want to live here," said Croce. "Things are moving in the right direction and this new legislation is critically important to help that momentum to continue to move us forward."