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Home > Leadership > Mayor > News Room > Buffalo Brownfield Restoration Corp Saves Trico

Buffalo Brownfield Restoration Corp Saves Trico

AFTER A DECADE OF STEWARDSHIP, BUFFALO BROWNFIELD RESTORATION CORP. SAVES “TRICO” WITH TRANSFER OF OWNERSHIP TO THE KROG GROUP

Closing completed and renovations already underway for $80 million adaptive re-use project

May 31, 2017 – The “designated developer” has now become the “proud owner” of the iconic Trico Headquarter Building on Washington Street, the birthplace of the windshield wiper.  The Krog Group is moving forward with plans for an $80 million mixed-use facility that will complement the Buffalo Niagara Medical Campus and the new University at Buffalo Medical School.  Today, Mayor Byron W. Brown, Chair of the Buffalo Urban Development Corporation and its affiliate Buffalo Brownfield Restoration Corporation, announced that The Krog Group has closed on the property and will convert the 600,000-square-foot building into a hotel, apartments and other commercial uses.

“After ten years of hard work on one of the most difficult development projects in the City, I’m pleased to announce the finalization of the real estate transaction, so the plans can move forward on this important adaptive re-use project at one of Buffalo’s historically significant buildings,” said Mayor Brown.  “Krog will breathe new life into this vacant building that was threatened with demolition, and will now provide future investment and job growth in Buffalo.”

Peter Krog, P.E. and founder of The Krog Group stated, “The Krog Group is thrilled to be part of the continued resurgence of downtown Buffalo and the Buffalo Niagara Medical Campus.  Trico is an important part of Buffalo’s history, but the building had fallen into a state of disrepair.  While we still face many construction challenges, we’re confident that our adaptive re-use plan will return the Trico Building to prominence and serve as a useful and complimentary addition to the Medical Campus.”

The project's components include:

  • Krog will partner with Hart Hotels Inc. for the construction and operation of the project.  They have worked together on several projects throughout NYS.
  • The hotel will also serve the extended-stay market.
  • The project will include residential apartments to meet the housing needs of the medical school and nearby hospitals.  The apartments will feature some of the historic interior structural components of the building.
  • Rounding out the development will be commercial and retail space compatible with and supporting the demands of the surrounding health science businesses.
  • The project cost will be in the $80,000,000 range.
  • Environmental remediation will be done under the NYSDEC Brownfield Cleanup Program
  • The façade will be restored to replicate the original construction, in accordance with State Historic Preservation Office and National Parks standards.
  • The project will return this historic structure to productive use, support other development in BNMC, enhance opportunities for a live-work community, and generate new real property and income taxes.


Transaction Background:

  • As an accommodation to the Buffalo Niagara Medical Campus (BNMC), Buffalo Brownfield Restoration Corporation (BBRC) (an affiliate of Buffalo Urban Development Corporation) purchased the former TRICO Plant #1 at 791 Washington Street in 2007.
  • From 2007 through 2013, BNMC controlled the rights to further develop the property through a Designated Developer Agreement (DDA) with BBRC.  The DDA expired in December 2013.
  • On February 25, 2014, BBRC entered into a Purchase Agreement for The Krog Group to acquire the property after Krog completed the due diligence required to formulate their redevelopment project for the site.

The former Trico complex fills a large portion of the block between Ellicott and Washington streets, north of Goodell Street, and includes five historic industrial buildings built from 1890 to 1954.