Pegula's buy another vacated building, could it be Pegula's buying land for new stadi

[DetDannyWilliams]

The owners of the Buffalo Sabres and Buffalo Bills have acquired another downtown property near the KeyBank Center, snapping up a two-story red brick building on Michigan Avenue.
Terry and Kim Pegula, through HarborCenter Development LLC, paid $550,000 on Tuesday to buy the 12,560-square-foot Carr Building at 118 Michigan Ave. from Michael R. Madia of Tonawanda.

Earlier this year, the Pegulas bought the Hi-Temp Fabrication building around the corner at 79 Perry St., at the corner of Illinois Street, paying $7 million to the McKendry family for the five-story white block warehouse building that they plan to convert into a mixed-use facility. Labatt USA will move its headquarters to the facility (http://buffalonews.com/2017/04/26/labatt-restaurant-brewery-called-john-labatt-house/), while also opening the new John Labatt House restaurant and test brewery.

http://buffalonews.com/2017/06/13/pegulas-buy-another-downtown-building/
Is it just possible that the Pegula's are buying up land to build a new stadium on...If you look at the map (inside the article) you have KeyBank Center, the building on Illinois St. then there's a big Parking lot right in the middle then there's the new building that the Pegula's just bought and then the Seneca Casino. It's also fits one of the sites that have been rumored of where a new stadium could go?

[Pinkerton Security]

love it

[Ed]

But MitchMurray already reported that the Pegulas don't want a new stadium and will sell the team to a Toronto group.

This must be fake news.

[Night Train]

Restaurants, hotels, lofts, business buildings...the Pegula's may be just investing in other things they have done before. Not every purchase is a piece towards a stadium.

[YardRat]

Yeah, I'm not a financial genius by any means, but buying up viable buildings for $500k to $1mil per pop with the intent of demo-ing them and using the land to build a stadium doesn't seem like a very wise way to go about the process. That's going to add up to stupid money really quickly.

[WagonCircler]

Yeah, I'm not a financial genius by any means, but buying up viable buildings for $500k to $1mil per pop with the intent of demo-ing them and using the land to build a stadium doesn't seem like a very wise way to go about the process. That's going to add up to stupid money really quickly.

So far, he's not demoing anything. He's repurposing them. These acquisitions are not about land, they're about the area surrounding the Perry Projects and Conway Park. Just like the recent development around Ohio Street (RiverWorks, etc.). These acquisitions have been quietly happening by Buffalo developers like Paladino and Sinatra and others for about 5 years now. It's also why the Buffalo Creek Casino expanded recently.

This is not what I'd call a demolition:

http://buffalonews.com/2017/04/26/labatt-restaurant-brewery-called-john-labatt-house/

[SpikedLemonade]

Restaurants, hotels, lofts, business buildings...the Pegula's may be just investing in other things they have done before. Not every purchase is a piece towards a stadium.

NOOOOOOOOO!!!!!!!!!!!!!!

Our saviour can do NO wrong.

He just keeps giving more and more to the charity called The City of Buffalo.

After all, he paid $1.4B for an asset worth less than $1B.

The Dumb Pollack is The Second Coming to the Homers here.

[Dr. Lecter]

NOOOOOOOOO!!!!!!!!!!!!!!

Our saviour can do NO wrong.

He just keeps giving more and more to the charity called The City of Buffalo.

After all, he paid $1.4B for an asset worth less than $1B.

The Dumb Pollack is The Second Coming to the Homers here.
It's funny you call him that and mock him, yet haven't actually seen what he has done to downtown Buffalo and how much better is has gotten since he got here.

Since he took over the sports teams, there are more non sports activities at the stadium and arena too

I know you despise him and everything about him, but he is not Lucifer.

The man has done a lot for the area.

[SpikedLemonade]

It's funny you call him that and mock him, yet haven't actually seen what he has done to downtown Buffalo and how much better is has gotten since he got here.

Since he took over the sports teams, there are more non sports activities at the stadium and arena too

I know you despise him and everything about him, but he is not Lucifer.

The man has done a lot for the area.

I like winners.

[feldspar]

I like winners.

Pick me another one, son.

[Joe Fo Sho]

I like winners.

Not many people who frequent this forum can say that.

[Night Train]

It's funny you call him that and mock him, yet haven't actually seen what he has done to downtown Buffalo and how much better is has gotten since he got here. Since he took over the sports teams, there are more non sports activities at the stadium and arena too
I know you despise him and everything about him, but he is not Lucifer.
The man has done a lot for the area.

Like we care what an Idiot Savant thinks.

[swiper]

Like we care what an Idiot Savant thinks.

The idiot savant thinks so.

[SpikedLemonade]

The results on the ice and on the field since DP bought the team(s) speak for themselves.

If he happens to be redeveloping downtown Buffalo so what?

I root for a NFL football team to win game and not for a tycoon to make more money in real estate.

[YardRat]

So far, he's not demoing anything. He's repurposing them. These acquisitions are not about land, they're about the area surrounding the Perry Projects and Conway Park. Just like the recent development around Ohio Street (RiverWorks, etc.). These acquisitions have been quietly happening by Buffalo developers like Paladino and Sinatra and others for about 5 years now. It's also why the Buffalo Creek Casino expanded recently.

This is not what I'd call a demolition:

http://buffalonews.com/2017/04/26/labatt-restaurant-brewery-called-john-labatt-house/
That was my point. I didn't think they were buying properties and improving them in order to eventually knock them down and replace them with a stadium.

[YardRat]

I get the 'idiot' part, but must keep missing the 'savant' somehow.

[SpikedLemonade]

I get the 'idiot' part, but must keep missing the 'savant' somehow.
The rumour is that before Pinot Gris, I drank a lot of Sauvignon Blanc but the moron spelled it wrong.

I hope that helps.

[stuckincincy]

So far, he's not demoing anything. He's repurposing them. These acquisitions are not about land, they're about the area surrounding the Perry Projects and Conway Park. Just like the recent development around Ohio Street (RiverWorks, etc.). These acquisitions have been quietly happening by Buffalo developers like Paladino and Sinatra and others for about 5 years now. It's also why the Buffalo Creek Casino expanded recently.

This is not what I'd call a demolition:

http://buffalonews.com/2017/04/26/labatt-restaurant-brewery-called-john-labatt-house/


Yup. It's derisively called gentrification by some.

Same thing in Cincy...the wonderful architecture and property turned into garbage by the block busting of the '60's are being refurbished.

[WagonCircler]

Yup. It's derisively called gentrification by some.

Same thing in Cincy...the wonderful architecture and property turned into garbage by the block busting of the '60's are being refurbished.

I wish we could do as well with renovating our old train station as Cincy did with theirs.

[Wally The Barber]

I offered him my barbershop for 4.5 mil

[SpikedLemonade]

I offered him my barbershop for 4.5 mil

If you offered it for $6.5M, the DP would have bought it.