The Buffalo Chronicle
Commerce
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Hotel Niagara’s restoration has carried six price tags, from $42 million to $66.6 million. The county tax-break file still says $44 million
Since 2018, the Hotel Niagara restoration has been put at $42 million, $44 million, $56 million, $58.8 million and $66.6 million. The county IDA closed its tax-break deal in April at $43.96…
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UB alum Russell Agrusa signed the last beam of the $111 million engineering hall that will carry his name
Russell L. Agrusa, a 1976 UB electrical engineering graduate and ICONICS founder, gave $20 million toward Agrusa Hall. The steel is topped out on the North Campus, with the state adding $68…
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The Bills stadium’s 6% surcharge has raised $2.88 million for Erie County in two months. None of it stays in the county
The charge on tickets, parking, food and merchandise at Highmark Stadium is passed to the state each April 30. Here is what the 2022 agreement says and what the comptroller calls the…
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Station Twelve opens its first stores Thursday, 11 years after Amherst was promised a new Northtown Plaza
Five stores open at Amherst’s Station Twelve on Nov. 5, 11 years after WS Development bought Northtown Plaza. Here’s what the town was promised, the permit and tax fights along the way,…
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Buffalo Urban League gets $5 million in state aid for Jefferson Avenue headquarters
Gov. Hochul announced $5 million toward the Urban League’s $25 million campus at 1137 Jefferson Ave.
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Young Development buys the land for its $25 million Village Walk senior apartments in East Aurora as plans head to the Planning Commission
Young Development paid $1.2 million for 11 acres on Quaker Road for a 118-unit, 55-and-older complex. The project, which divided residents at a July rezoning vote, goes to the village Planning Commission…
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UB-trained planner Brian Smith wants to turn North Tonawanda’s empty DeGraff hospital tower into senior housing
The UB communication and urban planning graduate runs real estate development for People Inc. His biggest pending test is converting the vacant DeGraff Memorial Hospital bed tower into about 70 senior apartments,…
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After ACV, UB alum Dan Magnuszewski is trying to build Buffalo startups on purpose
The UB computer science graduate helped turn ACV Auctions into Buffalo’s first tech unicorn. With 43North’s competition over and ACV now owned by Copart, he runs the venture studio the 43North Foundation…
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A Buffalo-made battery moves into a West Side apartment building as Dunkirk pauses storage projects
Viridi and Good Carbon say they have installed a 3.75-megawatt-hour, state-backed battery system inside the 105-unit Peace Bridge Place, as Dunkirk’s council passes a six-month moratorium on battery storage applications.
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State innovation summit brings $430,000 startup competition and quantum talk to Buffalo
The two-day NYS Innovation Summit opens Tuesday at the Buffalo Convention Center, where nine finalists will compete for $430,000 and state officials will outline technology priorities.
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Erie County’s IDA has backed $143 million in projects this year, a fifth of 2025’s pace, as its board takes up a 2027 budget
Through September, the ECIDA approved seven projects worth $143.1 million, down from $728 million in 2025, and its fee-funded budget now leans on two bond deals.
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Albany adds $10 million to Buffalo’s East Side Building Fund after 300 applications chased the first round
Thirty-five projects split the first $10 million. With a second round expected, here is how the storefront and mixed-use grants work and who gets priority.
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New York’s quantum study ranks the state second nationally, but finds Western New York’s footprint thin
A new state-commissioned study ranks New York second in the nation for quantum technology, but its regional map shows only a small cluster of activity in Western New York as the state…
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Rich Products cuts 60 Buffalo jobs in a global overhaul while it keeps building on Niagara Street
Rich Products is eliminating about 60 Buffalo jobs in a global restructuring that will see roughly 380 people leave, even as it keeps investing in its Niagara Street campus and the historic…
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Carl Montante, a UB Law alum who practiced law ‘for about a week,’ enters the WNY Business Hall of Fame
Uniland founder Carl J. Montante, a 1967 UB Law graduate, was inducted into the Western New York Business Hall of Fame on Oct. 14. His company is still building, and protesters are…
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Woodhill Capital’s president admits to mail fraud as records detail a $54 million collapse
Richard Teplitsky pleaded guilty Friday to mail fraud in the collapse of Woodhill Capital, which federal prosecutors say took $54.4 million from about 200 investors. Court records show how the equipment-lease notes…
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Salvation Army opens Hope on Main shelter, first piece of a $100 million Main Street redevelopment
The Salvation Army opened an 80-bed family shelter at 954 Main St., the $20.5 million first phase of Hope on Main. Next on the site: 143 affordable apartments and 17 townhouses.
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With Templeton Landing back in city hands, Buffalo weighs a plan for the whole Erie Basin Marina
The Buffalo Urban Renewal Agency controls the Templeton Landing parcel for the first time since 1982. Mayor Sean Ryan says the city will plan the marina area as a whole before seeking…
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Fashion Outlets of Niagara Falls loan goes back to a special servicer after reaching maturity
The roughly $74 million mortgage on the Town of Niagara outlet mall matured this month and moved to Midland Loan Services, months after the Niagara County IDA approved a 10-year tax deal…
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Upstate Niagara’s West Seneca dairy expansion grows to $325 million, with $35 million for on-site power
The cooperative’s third revision adds linear generators because of a lack of available electricity and seeks about $12.7 million in sales-tax breaks. The ECIDA holds a public hearing Tuesday at 3 p.m.
