Press Pass: Buffalo development attracting outside investment

Sep 20, 2016

While adaptive reuse of Buffalo's historic structures has become common practice in recent years, the plans for the former Pierce Arrow administration building provide insight into an emerging trend. "The money for this is coming from outside the 716-area code," said  Jim Fink of Business First during his monthly appearance on WBFO's Press Pass.

"It's a trend we're seeing where there are more out-of-town dollars making their into the Buffalo area because the Buffalo economic resurgence is getting a lot of attention in the development community,"said Fink. 

Beyond the $30 million targeted to rehab the Pierce Arrow building, he cites the "off-shore dollars" that are financing the transformation of the former AM&A's department store in downtown Buffalo into a hotel that looks to serve tourists from Asia. 

"Would that have happened five years ago, seven years ago? Probably not."