Mark Croce's Full Plate


Croce says the parking lot purchased from Bashar Issa last week will be developed. That according to an interview in Monday’s Buffalo News:
“I definitely won’t be building a 40-story tower,” Croce said. “But I will build something that makes sense in the context of the location, something that makes the highest use of the property.”
While he declined to get more specific about what he’ll do with the site, he said it won’t remain a parking lot “much longer.”
“I’ve hired an architect and have a bunch of preliminary renderings. I’m at an important juncture moving into development, so I’m going to do it right. I’m not going to waste a prime development site,” Croce said.
While he’s previously said he’d like to develop a boutique hotel downtown, he said that’s not in his plans for the site. And he won’t be putting up a standalone parking deck.
“It will be a building that fills in a lot of gaps and complements the major buildings around it, like City Hall and the new federal courthouse. So it might integrate parking, Class A office space and some entertainment,” Croce said.
Arguably, of the property owned by Croce, the City Tower lot would not rank high on the list of planners' development priorities. He has been buying strategically located parking lots for years.
Croce along with James Jerge purchased the parking lot on the site of the Media Study Building at 207 Delaware Avenue (demolished in 1998) and the historic Hertz Parking Garage at 73-77 Huron Street in October 2003 for $1.8 million.
A partnership of Croce and Uniland Development purchased a surface parking lot at 470 Pearl Street in February 2005 from M&T Bank. The bank asked prospective buyers to submit a re-use plan for the 140-space lot with their offers. The Croce/Uniland team beat out two other development proposals with their plan for a mixed-use commercial and entertainment project. After paying $1.2 million for the lot, the property remains surface parking.
In September 2006, Croce’s Skydeck Corporation purchased four additional parking lots. 297 Washington Street (behind the Ellicott Square Building), 79 W. Mohawk Street (north of the Statler) and 690 Main Street (south of Studio Arena) were purchased from AllRight Parking for a combined $2.65 million.
The restaurateur has been quiet on the development front as of late. His newest venues, Warehaus, since revamped as Bucking Buffalo Saloon, and Laughlin’s, opened in 2004.
Back in January 2007, Croce told Buffalo Rising he views his parking lots as potential development sites. “I look for lots situated around my enterprises, and all of the lots are managed by Standard Parking,” he said. “Everyone thinks I own Standard, but I don't. I run my operations first, and my lots second. I look at my lots as current and future investment opportunities. As the city grows I will look at those lots as prime development sites. Restaurants are the frontrunner to retail. Density will be the signal that those lots are ready for buildings. Critical mass will bring building infill."
Hertz Garage and 204 Franklin Street office building.
His list of talked about, but not started downtown projects is lengthy. Besides the mixed-use project behind Shea’s with Uniland, since 2000 he has talked about converting the six-story Saturn Rings Building at 505 Pearl Street into a mix of office and residential space. In 2002, he started talking about converting the office building at 204 Franklin Street into a boutique hotel or mixed-use entertainment venue. Both properties remain vacant.
Other incomplete projects include conversion of the Hertz Garage into residential units and a plan to bring back the Chez Ami supper club. There have been persistent rumors that he is looking build a new hotel north of his Coliseum complex on Franklin Street.
Apparently the buying binge is not over. Besides the parking lot purchase from Issa last week, he is rumored to have recently bid on a building in the center of his holdings along Pearl Street behind Shea’s.
Now about getting some of these lots filled in…
Saturn Rings Building, 505 Pearl Street.

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gaustad
I applaud Croce for all of his accomplishments and contributions to downtown; an awful lot for one person.
Does anyone know if Croce also owns the white building next door to the Hertz building, on the corner?
These two buildings are prime locations that need to be developed.....
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sonyactivision
He's assembling a very nice collection of lots and buildings for a buyer with deep pockets and a desire to build and build well. How much for the whole schmear? Let the bidding begin...
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mybuffalo
we need a fortune 500 co shiaaat
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Ike
@mybuffalo
so go start one, top companies aren't moving here...time to get cracking
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magnum
Wow, buying all these properties with the money he has collected from the constantly rising parking fees in Buffalo - how nice. Why the city allowed a monopoly in parking is beyond me. To be clear, I think Palidino owns a number of parking lots too. Toronto also has a monopoly on Parking, its all city owned, hence the tax payer owns it. The result is no price gouging during major events, and profits going into the city coffers instead of millionaires who just sit on their assets and delay the cities progress. I just love how things get done in this city. Given all the new sales data for parking lots, I think it time to check the assed value and make sure the right amount of taxes are being collected. I bet all those benefiting from this monopolistic relationship will be leaving me 1 star, so I would like to thank you in advance for proving me right.
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Jas
Croce will continue to do nothing with these lots but run them as parking.
More of his buildings on Huron... http://www.flickr.com/photos/jas23/350865016/in/set-72157594468045421/
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sbrof
yeah I agree that having these parking lots in private hands is only a detriment to the city overall. If streets are a public service then parking the cars should also be centrally managed. Otherwise we get exactly what buffalo has. A Downtown where there is more space dedicated to parking than offices, residences, shops and restaurants combined... People say there isn't anything to do downtown, thats because we demolished the 'stuff' so we could park...
Again, There isn't a parking problem in Buffalo. There is a parking management problem....
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sbrof
As for Croce, I am not going to hold my breath for redevelopment of the parking anytime soon. Nothing against him personally and he runs some great bars (Laughlins was for years my hang out) and the chop house is a fine establishment also but I don't see him as a builder especially considering he has had that lot behind Sheas since before the Queen City Hub Plan was finished... 8 years is a long time to be 'building' something.
I do hope he proves me wrong and I do feel he is trying but maybe getting into the development business was a bit more than he originally anticipated.
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Hospitable
He does own the white building next to the old Hertz garage..
I don't know about him.. I agree with Sony.. he has to be building for a seller. I don't really view him as capable in the hotel/office/residential sector.. he's a restaurant and parking guy.. developing all of those properties in my opinion is a little too far out of the restaurant realm. Don't hold your breath
If he can develop.. why doesn't he, I definately don't see a problem with the local market and by all means the vicinity to Chippewa, theater district, and all the new things going up on Deleware?? HELLO??? Even before the credit crunch.. whats the problem.. he has owned the white buildings and the hERTZ garage for a long time hasn't he?? I blame an incapable team or lack of a development team all together.
I for one will be suprised if anything goes up on the Issa site.. he did have a plan for the old M&T LOT as well.. that got us quite far as you can see.
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tudorguy
It's a shame about the Hertz building and the white building next to it - in most any other city they would be hot properties to convert into something rather than let sit empty. I guess I should just be happy they're still standing and not another "shovel-ready" site, right?
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sbrof
tudorguy.. give it another 3-5 years when the roof collapses.. The longer it sits vacant the closer it gets to Shovel Ready heaven. Buildings just like everything else need critical maintenance but developers, and the city don't feel it worthy of maintenance without reward. Some could say that is justifiable but I don't buy it. You own it, it is now your responsibility to maintain it. It being vacant and not producing some sort of income isn't anyone's fault but your own. Letting it rot and fall down makes it a public problem.
Lets see what the city does to pressure owners like Croce and Paladino in the wake of the Livery to gets buildings like this / the greystone / Main street etc sealed and secure before the next wall falls down.
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MikeInWNY
@magnum Price gouging is a myth created by big government and progressives. Unless someone is holding a gun to your head, there is no price gouging. If the price of parking is too high for you, don't park there or buy the lot and lower the prices.
Historically, virtually every attempt at "price controls" to eliminate "price gouging" has led to supply shortages. Value is determined by supply and desire. Innovation, competition and economic investment is the result of a perceived price being "too high". And lower prices, as the demand falls.
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gaustad
I understand the Hertz building may be a difficult rehab project because of its structure, but there is no reason to just sit on the white building next door; it looks like an abandoned eye sore in the middle of the city.
It has all the right attributes of a loft project with a huge parking garage next door and chip strip right around the corner.
Do something with it!
It is ugly and decaying. It screams out that Buffalo is a loser town on a one way path to nowhere.
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vgs
How the hell do any of you know if Croce is capable of developing these properties? I believe his partner on the property across from Shea's is Uniland. I'd say thats pretty good company. Developers don't build things for the fun of it, it kind of needs to make some biz sense.
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GDC
What is he waiting for????? Time is already right to start converting these empty buildings into living/office spaces. We can definitely use another Boutique Hotel (The Mansion is always booked, why not give people another option?) You can never have enough restaurants, and isn't the current residential spaces all FULL? Why not create more? And as far as office, don't we need more Class A?
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Siafu
Demolition by neglect. Croce is taking plays right out of Paladino's playbook. Coach Carl has taught the grasshopper Croce well.
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GDC
Wow, can't believe he lied to M&T Bank about his plans for an empty lot, beating two other developers. Wonder what those guys had planned and I bet one of them might of actually built something by now if Croce didn't win the bid for that lot.
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sbrof
Well we don't know if he can or not but 8 years to be sitting on something right next to Sheas, with Uniland as a partner, is a long time and doesn't boast well for his reputation. Are there plans? What's the hold up? You can't tell me with the proximity to Chippewa and the Theatres another option for drinks, dinner living wouldn't be sought out.
Plus that site is actually very close to Allentown and since it is practically impossible to rent anyplace in Allentown without bringing a checkbook to view an apt the demand is HUGE on that side of downtown and north. Quality space between Chippewa and Allentown would be a sure fire win. You get all the benefits of Allentown, a 5 minute walk north, and downtown, a 5 minute walk south.
We shall see but as I said, I am not holding my breathe until I see images or shovel in the ground.
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potatogoat
Other business owners downtown HATE Croce. He makes every effort in his power to impede the progress of other businesses. Ask any business owner downtown. Croce single handly put an end to the classic car shows that used to be held on Chippawa on Tuesday nights. There were once very good plans to turn the parking lot behind the crocodile Bar on Delaware into a pedistrian mall with shops, restaurants and a park and Croce put an end to that idea. This man is a menace! He may have opened up a few over-priced restaurants, but look at those building he has left sitting empty. Its a Damn shame!!!!! He could have been the most successful apartment loft developer in the city. He is buying up these other properties and they will sit empty which is a crime because someone else would have developed them. I know a number of Investors who tried to get him to sell 204 Franklin & 505 Pearl street for years. He wont sell them for any price. He is hiolding up progress. If he cant handle developing these properties on his own, he should sell them for a fair price and let our city move forward!!!!
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Andrew
it makes me so mad. I love the hertz building and i'm going to be so mad when the building is demolished by neglect in 5 years. and that enormous parking lot on delaware by that mansion... wtf! delaware is hot right now sell it off to someone who will do something with it please! we dont need 40 story buildings in our downtown to make it a good downtown. WE NEED DENSITY. 5+ stories up to the street creates density.
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OutsidetheBox
Everyone complaining about the condition of some of these buildings, why not do something about it?? Start calling the building inspector today instead of waiting until it needs an emergency demo and then try and scramble and mobilize. Why not be proactive instead of reactive on these things??
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GDC
I would have thought Building Infilll, brings Restaurants, Which will then bring critial mass to create Retail...Not critial mass creates building infill, Doesn't make scense, much like his business scense.
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RRover
mybufalo, M&T Bank is a Fortune 500 Company.
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GDC
Outsidethebox, please, the way this city is run, Croce is buddy's with people in City Hall, we can complain all we want, who is going to do anything? Look at the properties in the 500 Block of Main Street, Rotting Away and nobody does anything. Look at the Main Place Mall (Looking abandoned from the outside, pushing retailers out) nobody steps in to do anything, If you own buildings and are on good terms with people running the city, your property can fall to the ground and you'll be okay. It's so obvious.
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buffadopter
This guy runs the absolute best scams in town. Ticketing people and towing them at his sub par restaurants... any other city that is literally bordering extortion. Not to mention that the tickets are extremly close to the official BPD tickets? Impersonation anyone? The guy literally tickets his own patrons in Darcy Macgee's parking lot while there inside. The guy is really quite the scam but in true buffalo fashion no one calls him out on it.
Also, Daily politicking not only at city hall see here who he and his family make political contributions to.... http://fundrace.huffingtonpost.com/neighbors.php?type=name&lname=Croce . Everyone needs to start following these donations lists.
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buffadopter
This guy runs the absolute best scams in town. Ticketing people and towing them at his sub par restaurants... any other city that is literally bordering extortion. Not to mention that the tickets are extremly close to the official BPD tickets? Impersonation anyone? The guy literally tickets his own patrons in Darcy Macgee's parking lot while there inside. The guy is really quite the scam but in true buffalo fashion no one calls him out on it.
Also, Daily politicking not only at city hall see here who he and his family make political contributions to.... http://fundrace.huffingtonpost.com/neighbors.php?type=name&lname=Croce . Everyone needs to start following these donations lists.
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CPL
RRover, M&T Bank Corp is not a Fortune 500 company. They are however a Fortune 1000 company...
M&T Bank Corp Rank: 509 (Previous rank: 496) CEO: Robert G. Wilmers Address: 1 M&T Plaza Buffalo, NY 14203 Phone: 716-842-5445 Website: www.mtb.com
To the best of my knowledge, Buffalo does not have any Fortune 500 companies.
Correct me if I am wrong...
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Assaroni
Hate to disagree but now is the WORST time to start any development projects. Credit crunch is killing projects from Manhattan to LA... There hasnt been a worse time in 20 years to start building a large project... Its not Buffalos fault or anyones for that matter, the economy is just shitty right now...
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magnum
You bring up a good point Buffaloadopter, how the hell did the city aprove his parking scam is beyond me. Why not make him employ an parking attendant (JOBS). So sad to get a ticket on a cold tuesaday night when I am the only car in a lot for 100. This whole ticket scam has got to stop. Tickets have to be government issued or let me right my own tickets for all the dogs that crap on my front lawn and let me keep the money too.
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sonyactivision
That's the thing about Mark Croce. Any guy that has to tow people from his own properties and bill them aggressively isn't likely to have the means or ability to make anything of these lots. He's a straw pony in every sense of the word and who knows how long he's going to cling to his illusions before relinquishing these properties? The difference between him and Issa is he's local.
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