Krog tied to pair of BUDC redevelopments
For the second month in a row, the has named the as the designated developer of one its prime parcels.
The BUDC directors selected Orchard Park-based Krog as designated developer for a 10-acre, vacant parcel in the Buffalo Lakeside Commerce Park. Krog had previously been named designated developer for the same parcel, but let the designation expire when the company it was negotiating with decided to build in Tonawanda instead of Buffalo.
Krog is very familiar with Buffalo Lakeside Commerce Park, having built large facilities there for , and
"We do know the park," said Paul Neureuter, Krog president.
Neureuter declined to identify his company's client, citing confidentiality clauses.
With talks underway, Neureuter said Krog's interest in the 10-acre parcel has increased.
In the meantime, one month after a BUDC affiliate named Krog designated developer for the 617,000-square-foot former Trico plant on Goodell Street, Neureuter said his company is still fine-tuning development plans for the site.
Krog was named designated developer for the property by the Buffalo Brownfield Restoration Corp., a BUDC subsidiary, in mid-December. Neureuter said various plans for the structure are being considered including using a portion of it for a hotel or apartments along with some research and development space that ties in with the . The final development price tag is being determined.
Neureuter said he expects to finalize a sale agreement for the now-vacant Trico building in the coming months.
"My hope is that by sometime in the second quarter we own the building and have started working in there," he said. "Whatever we do there, it will have multiple purposes."
At one point, the Buffalo Niagara Medical Campus was the designated developer of the building but the BNMC let the designation expire last year so Krog could focus on its plans. The BNMC has a deep need for additional space to house medical-based research and development firms and other businesses related to the campus.
Neureuter said it is possible, even likely, that a significant portion of the building will house companies with direct ties to the medical campus.
"We want to be compatible, not competitive with them," Neureuter said. "Our intention is to be a good neighbor."
The actual sale price remains to be negotiated between Krog and the Buffalo Brownfield Restoration Corp. All parties agree the building will need extensive cleanup because of its brownfield site status.
The former Trico building is actually five buildings incorporated into one structure. The buildings were constructed between 1890 and 1954 and have been largely vacant since Trico moved its manufacturing operations to Mexico in the early 1980s.