The City of Buffalo has officially announced that it is unloading the former Buffalo Police Department Headquarters located at 74 Franklin Street. Mayor Brown stated that the building would go up for sale on Monday, November 26.
Buffalo Police Department recently joined the Buffalo Fire Department at the new joint police and fire public safety headquarters, formerly the Michael J. Dillon U.S. Courthouse.
The sale of the former headquarters is great news for downtown Buffalo, especially if it is picked up by a developer with intentions to convert it into residential units. Downtown Buffalo is desperate for more living accommodations, in the form of rentals, or even more important – condos. Parking lot infill is still happening at a snail’s pace, which means that historic building conversions are essential to the rebirth and longterm vitality of Downtown Buffalo.
The City will be listing the building on the Multiple Listing Service (MLS). Mayor Brown said, “After decades of serving the City as our Police Headquarters, it is time for this building to find a new life with a new owner. As one of the buildings in our Downtown, I am confident that this building will be sold quickly and at a price that reflects the high market demand in the Downtown district where this building is located in.”
As for the fair market value of the building, Mayor Brown points to the $3 million sale of the Post Office building on Washington Street as well as the $7 million+ investment into the nearby Verizon building as examples of the downtown real estate economy on the move.
The City will be allowing interested developers to tour the building, which could qualify for tax credits depending on the future use, as it relates to the Downtown Building Reuse Plan.
Lead image: City of Buffalo