During his annual State of the City address Friday, Mayor Byron Brown announced a new $75 million project on the Buffalo's waterfront. The 14-story mixed-use facility planned by developer Carl Paladino would be located on vacant land owned by the Buffalo Urban Renewal Agency between Templeton Landing and the Erie Basin Marina. 'The Carlo' would feature office space, apartments, restaurants, a spa, a 138-room hotel, and a parking garage and surface lot.
Brown said developers, doing their due diligence, feel more hotels are needed downtown.
"They believe money is there to be made. This is a completely private development. This is not getting any direct city funding. We're excited about the project. The developer thinks it's going to be successful and I have great confidence in this developer," Brown told reporters after the speech at the Buffalo Niagara Convention Center.
A similar complex by Paladino was in competition for the city's Webster Block, but ultimately lost out to Sabres owner Terry Pegula's HARBORcenter plan.
No timetable for the project was announced.