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Pegula sells land for $1.75 Billion, Will Bid on Bills!


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I lived in Phoenix when the owner of the Suns, Jerry Colangelo, literally, single-handedly, revived the entire downtown area, which is now bustling. It was dying a slow death before he came in and started with the arena being built downtown, and then a couple restaurants, then a few other businesses, and then boom. Granted, Phoenix isn't Buffalo, but at the time, everywhere was booming around the outskirts and suburbs of the city, and the neighboring cities of Scottsdale and Tempe, and absolutely zero was happening in downtown.

 

One guy changed all that, and Pegula could do it in Buffalo.

 

Someone who has seen what is happening here. Unlike Phoenix, look to the roots of the Buffalo-Niagara region. Many vacant brick manufacturing facilities sit idle. Many are going to find new life, as manufacturing, living spaces, even commercial enterprises. Look to the old combined with the new era industries. And Pegula isn't the only power broker that will be involved. It won't happen over night, but things are in motion that should change the area, for the better. Something this area has been waiting to see for a very long time, vision with leadership.

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Someone who has seen what is happening here. Unlike Phoenix, look to the roots of the Buffalo-Niagara region. Many vacant brick manufacturing facilities sit idle. Many are going to find new life, as manufacturing, living spaces, even commercial enterprises. Look to the old combined with the new era industries. And Pegula isn't the only power broker that will be involved. It won't happen over night, but things are in motion that should change the area, for the better. Something this area has been waiting to see for a very long time, vision with leadership.

 

Hope some tax breaks are going to be on offer... WNY has a reputation as a hard place to do business. Leadership could fix that.

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If seeing the light means realizing that this guy puts a negative spin on everything related to the Bills staying in Buffalo to the point where it's comedic and I can't even tell if he's trolling, then yes, I saw the light about two months ago.

 

Yup. Ignore the noise. Stayin :thumbsup:

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And then see it instantly get cut in half after taxes are due?

 

People are ignoring that little tidbit that he'd probably owe a big chunk of change, as his cost basis was likely very low.

I'm not sure if people are ignoring the tax implication or just don't really see it as an issue we need to be concerned with. Do you think Pegula is going ' oh crap I forgot about taxes, now I can't bid on the team.' I'm gonna take a wild stab at this and assume they now how much money they need and how to get it.
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I lived in Phoenix when the owner of the Suns, Jerry Colangelo, literally, single-handedly, revived the entire downtown area, which is now bustling. It was dying a slow death before he came in and started with the arena being built downtown, and then a couple restaurants, then a few other businesses, and then boom. Granted, Phoenix isn't Buffalo, but at the time, everywhere was booming around the outskirts and suburbs of the city, and the neighboring cities of Scottsdale and Tempe, and absolutely zero was happening in downtown.

 

One guy changed all that, and Pegula could do it in Buffalo.

 

I also lived in Phoenix (Tempe) during this time and Kelly is 100% right on the move of the Suns downtown and it's effects. Phoenix's downtown corridor is now bustling and with light rail and a downtown ASU Campus, there are a ton of things to do there now. Downtown Buffalo, with the Harbor Center as well as the expanding Medical Campus, is on the verge of turning in to something great. Add a football stadium and we could finally have the sort of downtown that we could all be proud of.

 

Someone who has seen what is happening here. Unlike Phoenix, look to the roots of the Buffalo-Niagara region. Many vacant brick manufacturing facilities sit idle. Many are going to find new life, as manufacturing, living spaces, even commercial enterprises. Look to the old combined with the new era industries. And Pegula isn't the only power broker that will be involved. It won't happen over night, but things are in motion that should change the area, for the better. Something this area has been waiting to see for a very long time, vision with leadership.

 

I just got back from a week in KC and if you have never been there you would be shocked at the similarities in architecture to parts of downtown Buffalo. Also, I think everyone would be shocked at how nice a downtown KC has and when I was walking around, I kept thinking that there is no reason that Downtown Buffalo couldn't be that nice. I completely agree with you hopeful and also think that there are a number of investors who see the potential for additional growth downtown.

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then he can buy the 38 story One Seneca Tower when it's up for auction after the foreclosure.

 

build a new downtown stadium next to HARBORCENTER and the First Niagara Center.

 

rename the area Pegulaville.

I think Pegulapolis has a nice ring to it.
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then he can buy the 38 story One Seneca Tower when it's up for auction after the foreclosure.

 

build a new downtown stadium next to HARBORCENTER and the First Niagara Center.

 

rename the area Pegulaville.

The Goo Goo Dolls can do a cover of that Jimmy Buffet song, singin' "Wasted away again down in Pegulaville..."

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The Goo Goo Dolls can do a cover of that Jimmy Buffet song, singin' "Wasted away again down in Pegulaville..."

 

Jesus no. Their simpy song "Better Days" ( which by the way was a rip off of "Life in a Northern Town") singlehandedly killed the Sabres.

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Yeah, that was the reason the Sabres got smoked. :wallbash:

 

Laugh if you will, I'm convinced. :P

 

I want there to be an M. Night Shamalan twist to this whole thing, where Pegula buys the team, and pays Bon Jovi to play the home opener at the new stadium.

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I also lived in Phoenix (Tempe) during this time and Kelly is 100% right on the move of the Suns downtown and it's effects. Phoenix's downtown corridor is now bustling and with light rail and a downtown ASU Campus, there are a ton of things to do there now. Downtown Buffalo, with the Harbor Center as well as the expanding Medical Campus, is on the verge of turning in to something great. Add a football stadium and we could finally have the sort of downtown that we could all be proud of.

 

 

 

I just got back from a week in KC and if you have never been there you would be shocked at the similarities in architecture to parts of downtown Buffalo. Also, I think everyone would be shocked at how nice a downtown KC has and when I was walking around, I kept thinking that there is no reason that Downtown Buffalo couldn't be that nice. I completely agree with you hopeful and also think that there are a number of investors who see the potential for additional growth downtown.

 

KC is the prime example of how to overcome the down turn of the 70's and 80's, and you'd be right in pointing out the model. It's been discussed in circles in WNY. Good catch.

 

retractable roof would be preferable. Maybe that's what you meant though.

 

The new stadium will be retractable, note the word The and not A. It's in the works further than a "stadium committee" is.

 

Jesus no. Their simpy song "Better Days" ( which by the way was a rip off of "Life in a Northern Town") singlehandedly killed the Sabres.

 

Inspirational song and very fitting for this area at the time. Some may not like it, but the Goo Goo Dolls are us, WNY is in there blood and they know full well what WNY has gone through. With that being said, not a fan of their music, but, I have to say again, that song was and will be forever linked to who, what, WNY is.

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