Newsroom

1/27/2014 11:08:42 AM

The Buffalo News: Progress is ‘swift’ on RiverBend land deal

The Buffalo News

State agrees on purchase of 88 acres from the city

New York State has agreed on terms to buy the 88 acres of city-owned land in South Buffalo that will house a new high-tech and clean-energy complex at RiverBend.

The deal marks what officials call “swift progress” in advancing a monumental project that seeks to transform a former steelmaking site from a brownfield into a green-power economic driver. It comes just two months after the initial announcement of the RiverBend project, indicating seriousness on the part of the state to move forward quickly.

Under a memorandum of understanding reached between city and state leaders and being announced today, the state’s Fort Schuyler Management Corp. will pay the city’s Buffalo Urban Development Corp. $2.5 million to buy the sprawling property along a curve in the Buffalo River.

Once completed, the purchase will clear the way for the state to proceed with plans for what it describes as a “state-of-the-art anchor hub facility” that it has dubbed the Buffalo High-Tech Manufacturing Innovation Hub at RiverBend.

Read More