Another Downtown Buffalo landmark may soon be undergoing a massive renovation.
If everything goes right for developer Rocco Termini, the block of Washington Street between Lafayette Square and Eagle Street might have another of his successful historic rehabilitation projects.
In anticipation of Governor Cuomo signing legislation to increase tax credits on historic preservation rehabs, the Signature Development president has started the process for a $60 million rehab of the old AM&A's department store, adding retail, hotel, offices and apartments.
The developer has already rehabbed the AM&A's warehouse complex across the street and the Hotel Lafayette complex down the block.
Termini says there are still more people who want to live Downtown.
"We haven't reached our total absorption yet. You have to remember the (Hotel) Lafayette was 115 apartments and they were all rented by the time we opened. So, that certainly bodes well for additional housing downtown."
Termini has asked the ECIDA for financial assistance in the rehab and the agency is listing a series of potential tax breaks.
