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Krog tied to pair of BUDC redevelopments
For the second month in a row, the Buffalo Urban Development Corp. has named the Krog Corp. 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 CertainTeed Corp., Sonwil
Distribution Center and Cobey
Inc.
"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 Buffalo Niagara Medical Campus.
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.