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Project Name

555 Riverwalk, LLC/TM Montante Development or an entity to be formed

Address

555 Riverwalk Parkway
Tonwanda
New York
14150

Project Details

FTN is a worldwide freight forwarding services provider and subsidiary of FedEx Corp.  FTN is a leading provider of full service customs brokerage, global ocean and air cargo distribution, North American transportation and other value added services involved in shipping goods.

In 2012, after receiving approval for the Excelsior Jobs Program from Empire State Development, and in anticipation of IDA assistance, FTN announced that New York State was the front runner for their "campus" project site search.  The decision to expand in Western New York came after the company investigated sites both in Indiana and Tennessee.  The company is headquartered in Memphis.

The developer is proposing to construct a new 88,000 sq. ft. facility on 14 acres in the Riverview Solar Technology Park for lease to FedEx Trade Networks Transportation and Brokerage, Inc. ("FTN").

The company has outgrown their current space on Ensminger Road which houses their offices and Kenmore Avenue where they lease warehouse space.  Both of these locations are in the Town of Tonawanda.

The new facility being constructed by Mr. Montante will consist of 88,000 sq. ft.; 33,000 sq. ft. will be devoted to office space and 55,000 sq. ft. to warehouse.  The project will pursue Silver LEED certification and will incorporate a new form of solar; Building Integrated Photovoltaic (BIPV) that over the term of the lease will offset approximately 1 million kWh of fossil fuel based electricity.  This is equivalent to consuming 80,000 gallons of gasoline.

FedEx has been approved by Empire State Development Corp. for the Excelsior Job Program which will provide Jobs Tax Credits, Investment Tax Credits, Research and Development Tax Credits as well as a Real Property Tax Credits.

It is anticipated the project will be completed in the first quarter of 2014. 

 

 

Status Details

4/22/2013 - $10,628,000 Lease/Leaseback Resolution Approved