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Krog Corp. and Hart Hotels Plan Trico Mixed Use Development

The Krog Corp. is partnering with Hart Hotels and proposing a $50 million dollar redevelopment of the vacant Trico complex at Ellicott and Goodell Streets.  Two hotels with a total of 230 rooms, residential, commercial, and retail space are planned.

The future of the complex has been in flux since the Buffalo Niagara Medical Campus (BNMC) and the University at Buffalo purchased the former M. Wile Co. and Trico buildings for $20.09 million in 2007.  Title to the Trico complex was subsequently transferred to the Buffalo Brownfield Restoration Corp., a quasi-public agency.

While the M. Wile Co. building now serves as the UB Downtown Gateway, the 617,000 sq.ft. Trico complex remained unoccupied while BNMC and local preservationists battled over reuse of the site.  The complex was placed on the State Historic Registry in 2000 and the National Historic Registry in 2001.

BNMC was on the verge of applying to the City to demolish much of the Trico complex but was convinced to have further discussions about alternatives with the preservation community.  Representatives from Preservation Buffalo Niagara, members of Campaign for Greater Buffalo and others with preservation, architectural, engineering and redevelopment experience met to look at the structural and environmental reports and recommend reuse options.  A Trico Complex Redevelopment Feasibility Study was released in 2012 to assess existing conditions and potential redevelopment strategies.

Since that time, the BNMC has looked at other sites for a new Innovation Center and let its development rights for the Trico complex expire.  Krog was designated developer for the property in December.

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Krog, with their experience as a partner at the Larkin Center of Commerce — one of Buffalo’s rare buildings that’s actually larger than Trico— is clearly not afraid to take on the reuse of a building with the size and legacy issues such as Trico.

The Buffalo News has the early details on the project which was announced at the Mayor’s State of the City address today:

Officials said 500,000 square feet of the building’s 600,000 square feet of space is usable and will contain a boutique hotel and extended-stay hotel, with about 230 rooms in total. There will also be several 1,200- to 2,000-square-foot apartments, commercial and retail space, as well as an indoor parking garage.

In a statement about the project, officials said the project would respect the historic importance of the building. For instance, they noted that the “loft-style” units will feature some of the current interior structural components.

Construction is expected to start later this spring and be completed by the spring of 2016.

The Buffalo Brownfield Restoration Corp. is expected to review the redevelopment plan when it meets next Tuesday.

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Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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  • I think the building has a old world charm and lot of history related to it. So, it should not be changed. With respect to its design and architecture. People should try to keep it in pristine state. Some also try to completely renovate the building. To read more interesting about real estate visit my site. <a href=”http://www.kevinbradleyrealtor.com/”>homes for sale Georgetown ky</a>