BUFFALO, N.Y. — The Central Terminal Restoration Corporation has taken its latest step in trying to get the near century-old landmark restored and redeveloped.
It involved letting those who have the interest and the means to take on such a job come inside and take a look for themselves.
"We have a master plan now that we've worked on for a year," said the group's executive director, Monica Pellegrino Faix.
"We had about 60 people including developers, potential tenants, architects, and potential investors," she said, regarding the tour held on Thursday, and which our news partners at Buffalo Business First report attracted participants from halfway across the country.
Developers have been told they can take on the entire complex, or bid on individual portions of it.
Current cost estimates to totally restore and develop the terminal and its 12-acre site are close to $300 million.
The time is now
There has been talk of redeveloping the Central Terminal for over 40 years, almost since the last train stopped there in 1979.
So what's different now?
Faix could give you 61 million reasons: One for every dollar the state, the city, and some private donors have pledged toward finally getting something done.
"That certainly is a strong indicator that there's confidence in the opportunity here at the Terminal and in the East Side of Buffalo," she said.
While opinion is often split about spending millions of dollars to preserve aging structures, the concept of restoring the Central Terminal enjoys a great deal of support among Western New Yorkers.
"There is definitely a collectively shared enthusiasm," Faix said. "Everybody has a story about their experience at the terminal, with the terminal, their hopes for the terminal, and with the work that we've done to tie our future with our neighbors. We really see it as a wide opportunity to be something incredibly hopeful for the future."
According to Faix, development teams have until Sept. 30 to submit their ideas, with information regarding their program opportunities and financial capacity, which will then be evaluated in order to create a shortlist who then might qualify to submit more formal proposals.
A developer may be picked by the end of this year or in early 2023.