Representatives of the Theodore Roosevelt Inaugural Site Foundation and Bank of America gathered in front of the Site’s 641 Delaware Avenue location this afternoon to formalize the long-anticipated transfer of the bank’s former mid-century glass and concrete branch and adjacent property. The property gift will restore the property to its original 1901 boundaries.
Demolition of the building and landscape restoration will begin immediately, with an anticipated completion date of November.
The bank branch, vacant since April 2011, stands on a 6,500 sq.ft. parcel of land on the southwest corner of the property, less than 15 feet from the south side of the TR Inaugural Site. It dominates the historic setting and compromises the Site’s cultural landscape, as well as its visibility and access from Delaware Avenue.
According to Stanton H. Hudson, Jr., president of the TR Inaugural Site Foundation, the gift of the Bank of America property, last assessed at $415,000, represents a “once-in-a-lifetime opportunity” for the place where 42-year-old Theodore Roosevelt was sworn in as the nation’s youngest president, eight days after President William McKinley was shot at Buffalo’s Pan-American Exposition.
“We are exceedingly grateful to Bank of America for its generosity in donating its bank building and property to the TR Inaugural Site Foundation. Once the building is demolished and the landscape restoration is completed, we will benefit from Delaware Avenue access to our significantly expanded parking facility and main entrance off Franklin Street. For the first time ever, we will have the ability to drop off those arriving by school and tour busses a few steps from our universally-accessible visitors’ center. It also will markedly enhance visibility of the Site from Delaware Avenue. The impact will heighten awareness and visitor appreciation of Roosevelt’s inaugural setting and contribute to continued attendance and revenue growth,” Hudson stated.
Speaking on behalf of Bank of America, Buffalo market president Kevin Murphy expressed the bank’s enthusiasm around the donation. “The Theodore Roosevelt Inaugural Site is a great source of pride for area residents, in addition to being an economic driver – helping return the site to its original appearance is the right thing to do, and the latest example of our commitment to the community.”
Under the terms of the donation agreement, Bank of America will maintain a drive-through ATM on Delaware Avenue.
The TR Inaugural Site is the only National Park Service location in Western New York and is managed by the Theodore Roosevelt Inaugural Site Foundation through a unique cooperative agreement.
Since November 2011, the Foundation has been soliciting contributions to pay for the demolition and landscape restoration. The fundraising campaign, “Gateway to Greatness,” has raised more than 60 percent of its goal of $1 million, including leadership gifts from the John R. Oishei, Margaret L. Wendt, and the Cameron Baird Foundations. The 25 trustees of the Foundation, which oversees the raising of approximately half of the Site’s $600,000 annual budget, have made financial commitments totaling more than $100,000 toward the project.
Funds are also being set aside for an outdoor sculpture of Roosevelt that will further enhance the Site’s visibility. The Renaissance Foundation currently has plans to pay the bulk of the cost through its urban public art initiative.
In addition to $800,000 needed to raze the building and restore green space, $200,000 is being sought to launch and sustain a contemporary citizenship initiative.
“We envision the TR Inaugural Site as a virtual village square–a place to enlighten and engage our Western New York community in learning and conversation about the challenges which faced Roosevelt as president and with which we continue to grapple today: environmental conservation, immigration and urban poverty, race and social inequities, big business and labor, and the U.S. role in global affairs,” Hudson said.