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Uniland “Modifying” 250 Delaware Avenue Project

Uniland Development Company, ensnarled in brouhaha over incentives requested for its proposed mixed-use project at the corner of Delaware Avenue and Chippewa Street, has sharpened its pencils and revised its plans.  The Erie County Industrial Development Agency’s project review committee did not consider the aid request at its regularly scheduled meeting last Monday as the project faced mounting criticism from some over tax abatements for the project and a funding plan for a proposed parking ramp utilizing PILOT Increment Financing. 

Uniland has proposed a 12-story building at 250 Delaware that would reconstruct portions of the Delaware Court Building and contain 204,000 sq.ft. of office space, retail space, a 119-room hotel, and parking for 515 cars.  Delaware North Cos. is expected to lease half of the proposed office space as its new headquarters, moving from the South Tower of Key Center and creating 65 new jobs.

This past week, Uniland officials huddled with staff of the Erie County Industrial Development Agency.  In a brief press release lacking specifics, Uniland says that the “scope of the 250 Delaware Avenue project will be modified and its financial plan revised.  The restructuring has reduced the need for financial assistance.  Given the modifications to the project, incentives requested by Uniland of the IDA will be limited to the standard Industrial Development Agency program.”

Uniland expects to file its revised application with the Erie County Industrial Development Agency next week.  The application had previously tied the IDA incentives to the parking lot financing plan.  It is not known what changes are being made.

Written by WCPerspective

WCPerspective

Buffalo and development junkie currently exiled in California.

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