stony Posted May 27, 2016 Share Posted May 27, 2016 (edited) Yes but other property owners are going to be pissed because as a result of the sale price the assessed value of neighboring properties will go up. Well, on a residential street like mine at least. What's that saying about a sinking ship, no wait a rising tide lifts all boats. It won't affect residential properties. And it won't affect the subject and neighboring properties until (if any) renovations are made to the property. That's where the fun starts. There's something here, just not clear as to what it is at the current time. Edited May 27, 2016 by stony Link to comment Share on other sites More sharing options...
zonabb Posted May 28, 2016 Share Posted May 28, 2016 It won't affect residential properties. And it won't affect the subject and neighboring properties until (if any) renovations are made to the property. That's where the fun starts. There's something here, just not clear as to what it is at the current time. What's "here" is obvious if you're following closely what's happening in the city and in policy and this buy has zero to do with sports. It's a good building in an area of investment by not just the Pegulas but other developers (Senecas although case is suck, Paladino's creamery, I think Savarino owns the Lagerhaus bldg, etc). They'll utilize corporate welfare in many forms (PILOT, historic tax credit, capital infrastructure improvement, Buffafoon Billion) to provide a mixed use development consisting of offices and residential. There's no viable sports (Bills, Sabres) use for the building, Pegulas are just another local developer whose name ends in a vowel. Link to comment Share on other sites More sharing options...
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