38 BUFFALO BUSINESS FIRST

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Building a better WNY ECONOMIC DEVELOPMENT LEADERS TALK ABOUT GROWTH

JIM COURTNEY Regional economic development leaders met last month to discuss factors that contributed to a variety of projects in the eight counties of Western New York. The discussion was part of a roundtable series sponsored by Business First and Hodgson Russ LLP.

BY JAMES FINK son Russ economic development ally LNR Financial Services, which “We are seeing and feeling a vibe [email protected] roundtable. holds the mortgage. The tower’s fate that hasn’t been here before,” said 716-541-1611, @BfloBizJimFink But while many developers have may be known early next year, fol­ Nick Sinatra of Sinatra & Co. never been busier, some long-stand­ lowing a foreclosure auction of a The economic resurgence isn’t With more than $19.5 billion ing issues remain, including the five-story, 700-space parking ramp limited to downtown. In Amherst, in development projects in the fate of One Seneca Tower, down­ on Washington Street connected to financial industries giant Black- region’s pipeline, the past few town’s largely vacant office build­ the building. The ramp may be the Rock Inc. is developing an $80 mil­ years have been “the best of times” ing. The 38-story tower lost one of tower’s biggest asset. lion back-office center in CrossPoint for those in the commercial real its few remaining tenants when UBS One Seneca Tower issues aside, Business Park. In Niagara County, estate and development world. Financial Services signed a lease real estate insiders say the region Bridgestone APM Inc. is spending Whether it’s downtown or the with Uniland Development Co. for has many development strengths. $12.3 million on a new Wheatfield suburbs, the demand for new proj­ the 250 Delaware Building. Among the factors working in the plant. And in Niagara Falls, more ects has not slowed down. The tower was “sold” for $28 mil­ region’s favor are inexpensive real than $129 million in hotel projects That’s the opinion of participants lion at a recent foreclosure auction, estate, strategically located proper­ are under development or in the in the recent Business First/Hodg­ but the winning bidder was actu­ ties and proximity to Canada. pipeline.

R BUILDING VALUE DOWNTOWN

Sources: Business First research and the city of Buffalo $947.6M $20.5M $75.12M $315.21M Value of projects in downtown’s Assessed value of One Seneca Tower Assesed value of HarborCenter, not Assessed value of all privately owned economic development pipeline including the attached Marriott hotel property in the Buffalo Place corridor NOVEMBER 6, 2015 39

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R What is your guess as to R CLOSER LOOK AT THE ROUNDTABLE MICHAEL the total number of projects ZIMMERMAN The Economic Development Industry Roundtable continues a series of Executive discussions with Western New York business leaders. director, over $1 million, and the Throughout the year, decision makers from diverse industries meet for a value of them, that are in the discussion moderated by Business First journalists. Lumber City Excerpts from the conversation are published two weeks later. Development pipeline or recently completed Upcoming topics include nonprofits, health care, agriculture and food Corp. manufacturing and education. in Western New York? Roundtable discussions, sponsored by Hodgson Russ LLP, are held at the law 125 projects, $2 firm’s Pearl Street offices in Buffalo. billion.

COREY NICK SINATRA B. THOMAS MANCUSO WIKTOR Owner/president, ' President, Mancuso Business Executive Sinatra & Company Realty ' Development Group director, County of I’m going to say 100 projects for $2 I’ll throw 90 projects for $1.8 billion R You’re all wrong. In the eight Cattaraugus billion. into the mix. Industrial counties, either completed or in Development the pipeline, 871 projects. And, Agency STEVE WEATHERS MATT WOLFE President/CEO, Erie County General manager, drum roll please, $19.5 billion. I would have Industrial Development Agency Tri­Main Development LLC to say it’s — I’m We talk about the region’s going to throw I would agree with Nick. 114 for $1.98 billion. economic renaissance. From out a number — 64 projects your perspective, has there per billion. JAKE SCHNEIDER CHRISTIAN CAMPOS been any one tipping point or Managing partner, Schneider President, ' Design Architects PC and Schneider TM Montante Development LLC ' a moment in time that helped MICHAEL BARTLETT Development LLC I’m going to say about 150 projects for to turn this region around? Executive director, Hamburg Industrial I’m not going to disagree with these two and a quarter billion. Development Agency Helped us get our economic guys. They know what they’re talking How about 400 for a billion and a about. development swagger back? half? STEVEN CARMINA Partner, Carmina Wood Morris DPC I was going to say about 140 projects for $2.1 billion.

L L P A T T O R N E Y S

PARTNERS IN PROGRESS

Our attorneys represent economic development stakeholders across New York State:

³A private developer in the P3-structured, $1.7 billion conversion of a vacant industrial site into a high-tech manufacturing campus ³The owner of a medical office building in conjunction with the formation of a commercial condominium and sale of an entire floor to a state- affiliated nonprofit corporation, representing one of the first and key pieces of the Buffalo Billion Investment Development Plan ³An academic health sciences center working with an industrial development agency and local development corporation in the redevelopment of an urban neighborhood involving more than $100 million in financing ³A global corporation in conjunction with negotiations of a long-term anchor tenant lease agreement for its new 110,000-square-foot world headquarters Learn more at hodgsonruss.com.

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B. THOMAS I think what’s changed around here, saying that to him. I’m just saying that MATT WOLFE it’s organic, for sure. But we had some if you’re outside looking in, that drives MANCUSO Tri­Main devastating blows to hit our region a lot of curiosity and a lot of attention. Mancuso Business Development LLC with the loss of the steel industry. We I think all these other things do play a Development were a blue-collar economy and we factor in this. I think the Group had to reinvent ourselves. And that medical campus When I saw that takes awhile. And that was the tipping has been the question, I was point. I mean, that’s one change; we NICK SINATRA driver of much looking at it, had to forget the old ways and find Sinatra & Company Realty of what else and I think so new ways to create an economy here. has happened I think that if you’re really pushing often what gets around here. for one project — to go back to the a lot of attention The job growth R But that took forever. The original question — I would say the are the things on the medical medical campus, the consolidation we’re doing steel plants closed in 1982. campus has and master plan over on the East now. And I been driving Here we are in 2015, and the Side of Buffalo there around Roswell, think Canalside growth in other that was, in my opinion, the biggest is something renaissance really happened in areas. Just areas catalyst. There’s a lot that’s happened that gets a lot of attention because that are outside the core that have the last five, seven years. That’s in the last 15 years, but if you were to the public gets to go there a lot. But I expanded to other places within point to one specific project that gave can’t help thinking that it goes back several decades of lag time. Buffalo that people now started the community confidence that there to HealthNow and the significant thinking, “Oh, I could go there. I could could be development again, there investment they made when they go to that neighborhood. I can work could be new jobs, high-paying jobs, built that hundred-plus-thousand JAKE SCHNEIDER there. I could start a business in that and then there could be demand for square foot office building. That Schneider Design Architects PC and area.” I think that’s helped Buffalo not residential, I think that’s probably was the biggest new construction Schneider Development LLC be so dependent on just a small area in the biggest. In my opinion, it’s the project in Buffalo in 20-some years. the downtown. Right, because that’s how long it biggest and most important project And what I would argue is an takes to change a city and a region that’s happened in the last 20 years unconventional spot. They made that from one economy to another. to really change the dynamics of R Have we learned to shy big significant commitment to the those communities. community and that investment in away from the magic, or the community. Then Avant followed, STEVEN silver­bullet, projects? and then a lot of things have gone on. CARMINA MICHAEL BARTLETT I can’t help thinking that that was a Carmina Wood Hamburg IDA pretty significant first step. Morris DPC COREY WIKTOR I like to look at the commitment that County of Cattaraugus IDA I would go right the Pegulas have made to Buffalo. CHRISTIAN CAMPOS back to 2004 Because I think that when you I would say yes. And that’s a little TM Montante Development LLC when our firm, talk about coming renaissance, it’s bit of a conundrum. I think Tom our current bricks and mortar but it’s also the and Sally Public look at economic When I was thinking about the tipping firm, was three people. And with them buying the development and say why aren’t point, I think it is the expansion of years old and Sabres, investing in HarborCenter, we recruiting these companies, the historic tax credit program. But, there was a giant now buying the Bills, I think they’ve XYZ? And they don’t understand really, coupled with over the last 10 or depression. I given the people in this community the cost and the time and, really, 15 years, I think the folks in Buffalo mean, there a little bit of a swagger that maybe the opportunity lost that that well and Western New York — also the folks was no new we haven’t had in a while. And I hunting takes. In Cattaraugus outside of Western New York — are build, interest think that’s important, looking at County, our board is seven members, really, really starting to appreciate this rates were bad, how people feel about ourselves and five private sector, who really region as a place to live, work, raise people weren’t investing, it was hard willing to make the investment and understand the side of business. a family. They’re really embracing to get loans. The historic tax credit giving us the exposure nationwide, They’re made up of business owners. it for what it is. But it only works if, slid into view and all of a sudden maybe internationally, to put us on They want to enable the private from the revenue perspective, you’re there was an investment vehicle the map for developers. sector to make their investments. So able to generate the revenues through for developers to put their money we look at the ones and twos and rents. And I think a lot of that was into and to invest in the city while the organic. I go back to that word driven by people’s interest in moving the banks weren’t financing new MICHAEL ZIMMERMAN because that is so prevalent. It’s to this region, certainly moving into build, corporate and medical; they Lumber City Development Corp. helping the person who started a downtown Buffalo. So, for me, I see were financing the historic stuff. machine shop literally in his garage the expansion of the historic tax credit I think it’s hard to pick one specific And when Rocco (Termini) started who now has 64 employees in Olean. program and a lot of the optimism and project. You know, as your list of 871 doing work down here on Ellicott Those are the types of people we excitement about what’s going on in kind of shows us, it’s a thousand Street and then the Webb lofts down want to learn to work with and this region. points of light is really the way it the block, all of a sudden we had a understand. And I think to Steve’s gets done. But Nick, I think you niche that was important to us and point, I echo a little bit the Buffalo hit the nail on the head with the we were involved in in a very small Billion allowed Western New York JAKE SCHNEIDER medical campus as a major project way. All of a sudden it became a big and Buffalo to get a national snapshot Schneider Design Architects PC and because of the impact that has niche for us, which I think started of what’s new here. But I think it’s Schneider Development LLC outside of Buffalo. It’s getting Buffalo everybody’s investment. helping the ones who stuck it out. recognized as a world leader in I’ll take a stab at kind of a global view. It’s the organic developers that have something outside that the rest of I was in Chicago over the weekend, been here for a number of years that the country can look and say, “Wow, and what’s happening in Chicago and STEVE WEATHERS aren’t maybe everyday sexy but have they’re making impressive advances what’s happened in Chicago just blows Erie County IDA committed to Buffalo and Western in that area.” away Buffalo. I mean, you go through New York with their dollars, with I’m probably the only outsider at the that city, it’s a megalopolis. And with their hearts. And that, to me, is table because all of you have been that comes a lot of traffic jams and more important than trying to lure a born and raised here. So all the things issues they’re dealing with that we company from Brazil. you mentioned, as an outsider, people don’t have to deal with. I mean, I like me know nothing about. The one wouldn’t want to live in a city like thing that we would say probably, that, personally. To compare what’s STEVEN CARMINA again, is the Buffalo Billion. That has happening here with what has been Carmina Wood Morris, DPC gotten national attention. And that going on there and what’s happening has never happened before. So I’m not I think the difference is that during now, you can’t even hold a candle. But NOVEMBER 6, 2015 41

INDUSTRY ROUNDTABLE Sponsored by the days of Bass Pro, we were conversation with the Buffalo it does. But unfortunately we’re not which is a good sign because we’ve beggars. And now we’re choosers. NIagara Enterprise or others? there yet. been losing it. So that’s going to be So I think we’re in a whole different a big factor, if we can start to bring place. I think people from outside people to town. Buffalo was built our city now see that we have a STEVEN CARMINA on the backs of immigration. And STEVE WEATHERS swagger; they see our confidence. I Carmina Wood Morris DPC that was our cheap labor force back Erie County IDA think it just exudes a whole different in our heyday. And we’re certainly I think it’s swung in the other level of appeal to our city. I’ve had that conversation with people not hurting ourselves by welcoming direction, just like Nick said. I think for a year and a half and haven’t heard these people. it’s gone from heavy public to more a word. JAKE SCHNEIDER private, but you still need that. And I’m assuming that even when things Schneider Design Architects PC and B. THOMAS MANCUSO R How frustrating is it? are, if they were like San Antonio, it Schneider Development LLC Mancuso Business Development Group wouldn’t keep us from wanting to get A community doesn’t thrive with one a tax abatement or anything like that. In the 50-plus years we’ve worked project that’s going to really make STEVE WEATHERS It still makes sense, you know, for the helping people fill buildings with that big of a difference. It takes all of Erie County IDA early years of any project. So I don’t businesses to create jobs, we’ve been these projects. And that’s why we’re think it will entirely go away, but I blessed to work in a lot of different It’s not. It’s not for me. But I look at experiencing the kind of success we’re think it’s already turned. communities for public sponsors and it as a professional in my world and having right now. But there are some private property owners. One of the go, “Wow. I’m really missing this game-changer projects you need things we’ve consistently seen is that opportunity. Why has that not come to have. And the medical campus MICHAEL ZIMMERMAN there’s solid community leadership. to light?” Again, I think it needs to certainly is one. SolarCity is one. I Lumber City Development Corp. At the end of the day, it’s really about come to light from people who are think HarborCenter is one. So if you the community. You have to support from this community, who have been The only thing I wanted to circle back want to point to those, you have to the things that make sense in your here and are recognized leaders. to a little bit was Corey started off by have them. Are we reliant on them? community. And you have to build That’s all of you in this room. I’m not talking about a lot of the — I might Do we need them now? No. But are projects and support projects and that recognized leader; you are. But misquote the figure here, but I think they important? Absolutely. What’s make investments that are appropriate having worked around the country it’s 80 percent of the new job growth the next one? for the opportunities you have, the in different parts, I would be all over in the community is from existing challenges you face. If you’re doing trying to say, “How do I assess and go businesses. And I think when we’re community-appropriate, market- R Steve, what’s the next one? after life science manufacturing?” And talking about these bigger projects appropriate projects, you need less probably not the 1,500-, 2,000-person that get a lot of the headlines, we tend public-sector help. That seems to flow jobs. It’s 100, 200, 300. They’re to forget there’s a lot of companies from good community leadership. STEVE technicians. They’re high-paying that are adding five jobs and 10 jobs WEATHERS jobs, and you have that diversity in at a time. And from a perspective Erie County IDA employment. of where do we put our resources R What are some local issues for local development, our time and That’s a good that need to be addressed to opportunity costs, it’s working with question, R Which leads me to one of those companies to kind of strengthen help keep the second line of because I don’t the questions I asked: Are our local base. know what this development moving forward? community we still too reliant on the R is wanting to public sector, the Cuomos, It’s interesting you do. I don’t see JAKE SCHNEIDER mentioned San Antonio. I an effort or the Zemskys of the world? Schneider Design Architects PC and leadership in attended a conference there Schneider Development LLC saying, “You and as I was coming in a taxi Infrastructure. Certainly downtown know ... .” NICK SINATRA our infrastructure is deplorable. I’ve been in economic development Sinatra & Company Realty from the airport, I said, “So in 25 years. The SolarCity projects are I would say the private sector has a nutshell, why is San Antonio great, but 20, 25 years from now, is stepped up the last five years, and MATT WOLFE it the next Bethlehem Steel? And here? What accounts for now we’re leading. Where before Tri­Main Development LLC so I’m a big believer in diversity. My it was the public sector, the IDA this booming economy?” thing is, an outsider looking at this Tying into the last question, are we groups trying to put something into and coming from other parts of the too reliant on the public sector? If we a hole that doesn’t fit, right? And country, we have very affordable know what the government is going say, “OK, look. Let’s just try to throw JAKE energy. We have this reservoir of to do is provide the infrastructure and incentives here and make this work, SCHNEIDER fresh water out here you call Lake provide good schools and public safety, even though the demand isn’t there.” Schneider Design Erie. But I don’t see anybody talking we’ll figure out what it is people want. Now the demand is there, the private Architects PC about going after biotech drug They’ll want to come. We’ll build the sector’s leading, but we still need the and Schneider manufacturing. They’re not going to things that they want. public sector help. Unfortunately, Development LLC go to the Southeast, they’re not going the economics aren’t that good to go to the Southwest. They need I’ve been to where these projects work 100 R Infrastructure: downtown water as their raw material, they need San Antonio a percent without some sort of public flat land, and they need communities couple times, parking, better streets? assistance. And I would love to be that want to build manufacturing too, and I’ve around and lead that next generation plants. I come from California, and wondered about into that world. If you’re in a place that’s not going to happen there. But the same thing. JAKE SCHNEIDER like San Diego, if you’re in a place nobody here is saying, “Is that the next They have a Schneider Design Architects PC and like San Antonio, the economy is just industry sector?” especially with the lot of people Schneider Development LLC booming, the rents are going through advancements that are going on at the moving from south of the border the roof and there’s thousands of Our public utilities underground medical campus. Having worked a lot into San Antonio. And they’re kind jobs coming in there every single are in horrible shape. Every time with the biotech companies, if I were of self-perpetuating in their need to year, then you don’t need the public we do a project we deal with those the business attraction group, I would create housing and expand because assistance as much, right? But issues. The surface infrastructure be all over that. their population is growing. That’s unfortunately, we’re not quite there is bad. I think the city is refocused something we don’t have here. While yet. I hope to get to a point where on that and they’re trying to build we’re creating more jobs, we are not R Isn’t it perhaps the role none of us have to walk into an IDA, good greenways connectors to tie the creating more population. We’re frankly, because that’s going to be a downtown together. So in that sense of the ECIDA to have that inching toward population growth, total win for the community when the infrastructure is weak. There’s 42 BUFFALO BUSINESS FIRST

INDUSTRY ROUNDTABLE Sponsored by been some progress made. To the happened in the ‘60s and ‘70s? And going back to the East Side, it’s MATT WOLFE city’s credit, people like Brendan going to happen, because the people Tri­Main Development LLC Mehaffy are constantly trying to on the medical campus are going I was just going to say Chris has create ways to find money to do STEVEN CARMINA to settle in those areas and they’re experience with implosion, maybe. those projects. We’ve been working Carmina Wood Morris DPC going to help to repopulate the East on that greenway connector between Side. And I think the money from the Absolutely, for different reasons. Larkinville and the Central Business medical campus, which had been zero B. THOMAS MANCUSO District because right now, there’s investment — there’s been nothing Mancuso Business Development Group two thriving parts of our city and R Are there other issues? going on there. There needs to be an there’s a disconnect. There’s no nice Not much attention has been investment there. There’s got to be A couple of people have suggested way to get from one to the other. So money coming out of that campus that. Isn’t the future some mixed- we’re trying to make it a positive given to the East Side. Are we to support that neighborhood. And use redevelopment for that, I think? experience. focusing too much on one area the same thing in Larkinville. There’s I don’t know who’s going to do it. I really been no economic development don’t think LNR is going to do it. or a couple areas of Buffalo from a residential standpoint. I always NICK SINATRA look at Larkinville as a suburb. The or the region and not enough Sinatra & Company Realty city of Buffalo, people from the ‘burbs NICK SINATRA on the region as a whole? drive there to work and park in the Sinatra & Company Realty Buffalo schools have got to improve. If ramp, go to work and then go home this is going to be sustainable for the If there was a plan announced today, it without ever walking into the city of long term, we have to improve our would take five years for that property JAKE SCHNEIDER Buffalo and enjoying what it has to school districts. And that’s one of the to come online. And who knows how Schneider Design Architects PC and offer. reasons why we’re so involved with long LNR can hold on to it and how Schneider Development LLC Say Yes. I think Say Yes is a fantastic long it takes the process to happen. So program. It has the right solution for I think the East Side is critical. I NICK SINATRA I think people are starting to say, “You it. And I encourage everybody here think it should be added to our list know, let’s just move on and continue Sinatra & to continue to support it, especially of challenges. On the East Side we to work on projects that we’re Company Realty those in the development business, don’t have that infrastructure; a lot working on. And once there’s a plan because who’s going to live in our of it has been torn down. So what we I’m very bullish on the horizon at some point in time, apartments in 10 or 15 years if folks do have is a lot of vacant property. on the near then we’ll see how it affects it.” But who are millennials, your daughter, Another big challenge is what you East Side. I’m at this point, I don’t think it’s in the want to go back out to the suburbs do with the Central Terminal, which a big fan of the immediate future having an impact on because their kids can’t get educated is part of that East Side question. So medical campus downtown development. in the city school districts? And that’s there’s a lot of opportunity and a lot and think a big problem. That is something that of challenges on that East Side. that there’s so we have to handle now because it will much potential JAKE SCHNEIDER bite us in the rear 10 or 15 years down there. We’ve Schneider Design Architects PC and the road. STEVEN CARMINA already seen Schneider Development LLC Carmina Wood Morris DPC a lot of it. But It could be a great asset. It is an asset. there’s 10,000­ I think you’re going to see things It’s just that the time’s not right just COREY WIKTOR plus more jobs happening. I think because we’re yet. But I could see it being a very County of Cattaraugus IDA that are going to come out of there running out of buildings in the city, successful mixed-use addition to that aren’t even there right now, Great point. historic properties, we’re now pushing downtown. It’s strategically located. 10,000 more people who are going out. I mean, we’re up to Michigan It could provide the best views in to be down there with the medical and we’re pushing out William, Western New York for condos, for school, with the new hospital, with STEVEN CARMINA Clinton and Broadway. All have some hotels, for apartments, offices. It hopefully some biotech companies Carmina Wood Morris DPC really wonderful buildings. They’re would take a deep-pocket investment that we don’t even know about right small, but there are opportunities out team to make it happen and it would I’ve been always a proponent of now that pop out of the research that there. And I think you’re going to see definitely send ripple effects around. neighborhood schools. I think we happens in the medical campus. And some of that happening, especially But nobody’s going to do that without got away from that with the Curtin my hope is that people move down the main roads out of here. I think really studying the market. I thought decision and desegregation. And when there, restaurants start coming in that the Central Terminal is huge. the Pegulas might have some interest that was happening, we were a 75 there. And so my view is to continue And I think part of that is our public in it. They may have shied away from percent white community, 25 percent to work on Main Street and then transportation system. You know, it, but they certainly would be a great black and minorities. And now it’s we’ll push off of the healthy flesh on the whole beltway concept. And why deep-pocket visionary type partner in the other way around in the city of Main Street, off the medical campus aren’t we putting the terminal at the making that happen if they wanted to. Buffalo. And the parents of these kids in that area there, from Jefferson Central Terminal and making that a are four miles away from where they up to Canisius, down through Main hub for train transportation around go to school. And if they don’t have Street, the medical campus. There’s New York state and out of Buffalo? STEVEN CARMINA transportation, they’re not being a lot of opportunity there in the next Carmina Wood Morris, DPC part of their kids’ education. I think JAKE SCHNEIDER five, 10 years. I have been talking the city has been very quick to sell about it because it takes a village. So I hardly consider the building in the Schneider Design Architects PC and off some really great properties and it takes us developers to do bigger central business district. It’s not a Schneider Development LLC schools in these neighborhoods where projects there but it also takes streetscape for me. It’s more important kids can go back to a neighborhood At least they’re talking about it. smaller folks, novice investors, if you that we’re looking at the success of the school. I think what’s missing here will, to go in there and take some revitalization of the AM&A’s Building is putting schools back inside those chance, too. and also doing something with the communities, to expand on what STEVEN CARMINA Main Place Mall, the streetscape along Nick said. But our kids who are now Carmina Wood Morris DPC Main Street. To me, those seem to be getting ready to have children or have more important to get those done Exactly. And I think the parking R Let’s talk about One children, when those kids hit 40 years than it is for me to worry about One problems that we’re having in the old, they’re out. Unless they want to Seneca Tower. What is your Seneca. city are not going to be solved by the take a chance of a lottery for a charter city of Buffalo building a 1,900-car sense of the building? school or pay for private school, which ramp for 5,000 new employees in a lot of people can’t afford. CHRISTIAN CAMPOS the medical campus. Many of those TM Montante Development LLC people are coming from cities where B. THOMAS MANCUSO R Isn’t that history repeating they don’t have cars. They take public Mancuso Business Development Group You’d think that symbolically it transportation religiously and we’re would be something that would really itself? Isn’t it exactly what Well, it’s not going to go away. not giving them the opportunity. resonate. The biggest building in the NOVEMBER 6, 2015 43

INDUSTRY ROUNDTABLE Sponsored by skyline. As far as commercial square JAKE SCHNEIDER being in that building and Children’s JAKE SCHNEIDER footage, it occupies a significant Schneider Design Architects PC and Hospital being completed. Schneider Design Architects PC and amount of the commercial square Schneider Development LLC Schneider Development LLC footage that’s available in downtown I think we have a couple around the The Chinese were developing the Buffalo. Symbolically that should be a NICK SINATRA table. I’m the outgoing generation and AM&A’s Building. Their whole model factor that we would all be concerned Sinatra & Company Realty I’m certainly preparing my staff to take is based on tourism with Niagara about, but we’re not. And I think that over things, but I think right around I’m bullish on Buffalo, obviously. I’m Falls. They’re going to bring Chinese the reason is all the organic growth the table here, you have a lot of young bullish on the next five years. Some of citizens through New York City and that we’re talking about. people who are in leadership roles. these projects take a long time to come then give them a tour, and then bring And just hearing their remarks, I think to fruition. So projects that are put in them to Buffalo and house them here R Are we putting too many we’re in very good hands. motion take two, three, four, five years in this hotel. And their emphasis will eggs in the Pegula basket? to come to fruition. So there’s a lot be on showing them Niagara Falls, in the pipeline right now that it’s all but they will also be based here in STEVEN CARMINA positive. Buffalo while they’re in town. JAKE SCHNEIDER Carmina Wood Morris DPC Schneider Design Architects PC and I agree with that. I’m with Jake. CHRISTIAN CHRISTIAN CAMPOS Schneider Development LLC CAMPOS TM Montante Development LLC I don’t think anybody’s relying on him R Look in your crystal ball and TM Montante In Niagara Falls they’re doing things for anything other than to support the Development LLC tell us what this region is going now to reconnect downtown Niagara sports franchises, which is really what I’m not just Falls to the gorge and the water, he’s done. to look like in five years or so? optimistic about similar to what Buffalo has been doing the progress over the past 10 or 15 years to connect STEVEN CARMINA NICK SINATRA continuing, the city to the waterfront. That’s I’m just really exciting. Carmina Wood Morris DPC Sinatra & Company Realty excited. Because I do pray for his health every day. Four Super Bowl championships. I think that some of the conditions JAKE SCHNEIDER that have been Schneider Design Architects PC and COREY WIKTOR STEVEN CARMINA evolving, we’re Schneider Development LLC County of Cattaraugus IDA Carmina Wood Morris DPC about to see Cultural tourism has made big really interesting I think that with the Pegulas versus A couple Stanley Cups. advances in Buffalo and Western and sort of explosive happenings. A Ralph Wilson, the Pegulas have said, New York. And with Canalside’s lot of young people are choosing to “We have kids. This is a legacy.” So I development, the children’s museum R Economically, how stay in Buffalo or to move into Buffalo. think the kids, the family presence, going down there, I think Canalside When you take young talented people they seem genuine enough. So maybe are is going to look? will eventually be another tourist who I think are not just moving here the monster is — I think Russ Brandon attraction that will draw people. So I because there’s new opportunity said — is dead in Lake Erie. And I think think that it will be more inviting for in terms of jobs, they’re moving that’s where he or she will stay. That’s MATT WOLFE people to visit Niagara Falls, to make a here because there’s tremendous just my take. Tri­Main Development LLC stop in Buffalo or make it part of their opportunity in the sense that they itinerary. I think we’re doing a lot to Good. I think we’ve had some good can get involved in making the things try to tap into that market. And I think growth in the last five years, and I happen that have been happening MICHAEL it will have some impact. BARTLETT see that continuing. I think that if, here — meaning they can take a real as we’ve referenced a few times, the part in shaping the future in Buffalo Hamburg IDA projections for the medical campus, to and Western New York, unlike they R Mike, talking about cultural I think the add another 6,000 or 7,000 jobs in the could in a big city. Now that’s exciting. tourism, are there any plans Pegulas, next eight years or so is really a driver rightfully so, get for what’s going on in the Buffalo R There is a world­famous to nurture that in Hamburg? a lot of credit region. I think that for the next five, 10 for what’s going years, barring something unforeseen, waterfalls about 20 miles on, especially it should be good growth for Buffalo. down the highway. Have we MICHAEL BARTLETT downtown Hamburg IDA around First capitalized enough on that? I think the Penn Dixie site has been Niagara Center. STEVEN CARMINA very aggressive in marketing. They get But I don’t Carmina Wood Morris DPC people on a yearly basis from all over think we can MICHAEL ZIMMERMAN I think the city is going to benefit from the world. However, it is probably one downplay the role that people around Lumber City Development Corp. projects that have been online and of the best-kept secrets from Western this table have had. They just continue have been getting tax abatements. A I think Buffalo and Western New New York. day in and day out, along with people lot of those projects are going to be York is going be a great place to live like Rocco, to go ahead and buy a coming on full tax in assessment, and in the next five or 10 years because building and refurbish it and bring that’s going to help the city -- give Niagara Falls is opening up their COREY WIKTOR life to the communities; Larkinville. the city, I hope they spend it wisely, waterfront. There are great things County of Cattaraugus IDA The Pegulas may be getting all the more cash coming into the city to happening in Lockport. I’m going press, but I think these guys are doing At the end of the day, tourism is a spend on infrastructure and to keep to shamelessly say that there are probably most of the work in bringing huge economic driver in Cattaraugus on improving things around the great things happening in North the city back. And I don’t think we can County. I think we all know city. I think that’s big. It’s going to Tonawanda also that are kind of downplay that. that, synonymous with the word be interesting to see how SolarCity quality-of-life things. There are “Ellicottville.” And nearly 16 percent performs and how successful they are, growing festivals and things like that. of the county’s employment is tied to R Let’s talk about the next how many real jobs they create. IBM, So those are the kinds of things that I a job in tourism. So tourism is just a with the promise of 500 jobs. And I think we’re going to see in five years generation of developers. huge factor. think the next level of finish in the that are going to be an exciting piece Are we nurturing them? medical campus, with the medical of it, too. school being there, I don’t think we really understand what the impact is going to be with all of those students and residents and graduate students