Monday, Jan 24, 2005 the Niagara Frontier Transportation Authority’s Board of Commissioners announced that they have ranked the proposal submitted by Buffalo Lakefront LLC first of the three proposals received for the redevelopment of the 120 acre outer harbor property and has authorized staff to negotiate a Memorandum of Intent. The Buffalo Lakefront LLC team comprises Opus East LLC, VOA Associates, Uniland Development, Urban Properties, Paradigm Consulting, BIDCO Marine Group, and Harris Beach, LLP.
Luiz F. Kahl, NFTA chairman said, “This process brought to Buffalo three impressive development groups and has given us the opportunity to select a dynamic team that we now can work with to create and design an economically vibrant and welcoming waterfront that will benefit the entire region. We still have much hard work to do, but today’s action is a giant step in the journey to reincarnate our waterfront.”
The board selected Buffalo Lakefront LLC first for negotiations based on the capacity and experience of the development team, including its ability to provide the private financing which will be required to make this project a success; the financial component of its plan; and its project approach. The proposal encourages a mixed-use development, having major residential and hospitality/entertainment components. It is both economically sustainable and has the potential to generate significant long-term public benefits, increase the tax base and create jobs.
Further, since the plan does not rely on the development of office or industrial space, it does not compete with the Central Business District or adjacent industrial parks. It also addresses site utilization issues and proposes solutions to accessing the property and connecting the waterfront to downtown thus complementing the Central Business District by expanding downtown Buffalo to the waterfront. The plan also addresses the need for permanent public access to the waterfront by dedicating over 20 acres of the site to green space and public use.
The Buffalo Lakefront Team boasts several auspicious players. The Opus group was founded in 1953 and has constructed more that 2,200 office, industrial, retail, institutional, multi-family and mixed-use projects across the country. Their high-profiled portfolio includes the American Express Financial and Grant Park projects in Minneapolis, along with the Camelback Esplanade in Phoenix. They are currently working on five, $200 million mixed-use projects around the country.
VOA, a nationally acclaimed design firm, brings with them a resume of projects from Milwaukee, Cleveland, and Chicago, where they designed the successful Navy Pier project.
Uniland is the largest developer in Western New York with an outstanding local track record of successful development projects including the Niagara Center office building and Crosspoint Business Park.
Going forward the NFTA will convene a Community Advisory Committee whose purpose will be to serve as a “sounding board” for the development team, along with reviewing and discussing design concepts, land use ideas, and providing logistical assistance related to the project as it unfolds.
The NFTA will now begin discussions with the Buffalo Lakefront Development Team to bring about a Memorandum of Intent by the end of the first quarter of 2005, followed by negotiations to reach a Redevelopment Agreement by the end of 2005.
“We’ve selected the team, now we need to work together with all of the stakeholders to help shape the design and scope of the project in a manner that ensures the outer harbor will be developed to its highest and best use,” Kahl said.
The Buffalo Lakefront proposal can be viewed here: (click to view presentation)
