One Seneca Tower

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Sen. Charles Schumer says M&T Bank's plan to create 1,000 new jobs in downtown Buffalo may help complete the Cars on Main Street project.

Antunovich Associates

Seneca One Tower has its first tenant since being purchased three years. M&T Bank announced today they signed a long term lease in the building to create a tech hub to continue to diversify the region’s economy.

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Since his purchase of Buffalo's tallest building, Washington-based developer Douglas Jemal has promised to bring new life to One Seneca Tower. That rebirth appears to be ahead of schedule. Appearing outside Monday's meeting of the city Planning Board, attorney Adam Walters says the project is moving forward at a "breakneck pace."

The only thing left now is purchasing the building permits, as the city Planning Board yesterday approved the first phase of the vast project to turn Buffalo's tallest building, now known as Seneca One Tower, into a mix of housing, retail and commercial space.

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That towering brown tower at the foot of Main Street in downtown Buffalo may look just as it has for the past few years, but owner Douglas Jemal says change is on the way soon for the troubled landmark

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Buffalo's tallest building has a new owner today, with Washington-based Douglas Development closing a deal to spend just over $12 million for the vacant 38-story One Seneca Tower.

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Douglas Development, the Washington, D.C. developer that has purchased One Seneca Tower, has an impressive history of restoring old buildings. That record, says one observer, also comes with some concerns..

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A Washington, D.C. development company has signed a contract to purchase Buffalo's tallest building.

Since HSBC Bank abandoned One Seneca Tower, prospects have been dim for the city's tallest structure. "By Halloween, you're going to be looking at a 38-story, almost one million-square foot, empty office building in downtown Buffalo," said Jim Fink. The Business First reporter offered his perspective during his monthly appearance on WBFO's Press Pass.

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The planned sale of One Seneca Tower in downtown Buffalo to a New York City businessman has fallen through.

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The One Seneca Tower in Buffalo could soon be transformed into a mixed use complex.

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The prospects for One Seneca Tower, Buffalo's tallest building, remain uncertain. "It's a big development headache," said Jim Fink of Business First during his monthly segment on WBFO's Press Pass. 

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There could be a new owner soon for Buffalo's tallest building, One Seneca Tower

Debt could impede sale of prime downtown parking ramp

Jan 20, 2016

An 814-car parking ramp in downtown Buffalo could be yours if you’re willing to take on the debt.

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Downtown Buffalo's tallest building sold for $28 million Thursday in a foreclosure sale auction.

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The iconic One Seneca Tower is being placed on the auction block today. The 850,000 square-foot building at the foot of Main Street is almost completely vacant. Buffalo's tallest building is currently valued near $15 million.

While development in downtown Buffalo has been booming, there is one large exception to the trend. The city's tallest building, One Seneca Tower, remains largely undeveloped. "Wish I could write some sort of happy ending to this, but I just don't see it," said Jim Fink of Business First on WBFO's Press Pass.

If the speculation proves correct and a portion of the One Seneca Tower is used as a hotel, it will add to the trend of new hotels in the region. According to Jim Fink of Business First, as many as five new hotels could be coming to Amherst in the near future.

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Buffalo's tallest building could have a new lease on life soon. A court-ordered foreclosure auction is set for October 1 for One Seneca Tower.

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The date has been set for the auctioning of One Seneca Tower.

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While the name has changed from HSBC Tower to One Seneca Tower, the vacancy problems continue for the city's tallest building. That topic was addressed during WBFO's Press Pass with Jim Fink of Business First.