Canadian developer renews interest in Buffalo's Central Terminal
A Canadian developer that previously expressed a desire to redevelop Buffalo's Central Terminal is again interested in the property.
An official with the Central Terminal Restoration Corporation confirmed that the unnamed developer recently signed a six-month letter-of-intent, giving that interest time to explore ideas and plans for the East Side landmark.
Paul Lang, vice chairman of the CTRC, explained to WBFO that a confidentiality clause prevents him from sharing details of the developer's interests, but he added that the Canadian-based party is aware of Central Terminal's heritage.
"There certainly shouldn't be any concerns," Lang said to WBFO. "(Through) all the conversations with the company we're working with currently, he's very respectful of the history and significance of the building, as its own architectural icon, and its significance to the immediate neighborhood and the significance that it holds across the entire region."
The Buffalo News reports that the building may be looked upon for possible mixed-use redevelopment, including residential and commercial space. Could the reintroduction of rail be part of the plan? Lang told WBFO, not necessarily. That, he said, is too complex of a matter to make redevelopment a starting point.
He also urged patience with the public. This developer has previously expressed an interest in the Central Terminal but conditions then were not right for an agreement. Even now, Lang told WBFO, working with such a large structure and working through complicated financing plans will take some time. As he summed it up, officials want to redevelop the site right the first time.
"We're cautiously optimistic that this may be the partnership or arrangement needed to move the project forward," said Lang.