BUFFALO, N.Y. — It is another blow for plans to redevelop the McKinley Mall.
According to Town of Hamburg supervisor Randy Hoak, the town heard from Benderson Development a few weeks ago that they were no longer interested in pursuing the project.
"That was disappointing," Hoak said. "Admittedly, there's challenges with a property like this in an industry that has seen its own challenges being retail. So what we've talked about as the town board is, is really the challenges. In this property and what uses would we like to see in the mall.
"The town board back in 2021 adopted an incentive zoning district for the McKinley Mall, which gave some flexibility to what the property can be used for. However, we quickly learned that there is an additional issue and that lies in the lease agreements of the tenants," the supervisor added.
It's 728,400 square feet of property that only has a few anchor stores. Town leaders plan to keep an eye on the property and its impact on the tax base.
There hasn't been an increase in the tax levy, but an increase in the tax rate.
"If the mall continues to decline and depreciate, they (mall owner) will challenge their their assessment and it could have an impact to taxpayers," Hoak said.