Buffalo Business Report - Monday, February 24th 2014
According to the AAA, the current average cost for a gallon of unleaded gas is $3.71. In the last two weeks, that cost has risen eight cents.
Krog Corporation's $50 million investment in a mixed-use development of the former Trico complex is poised to bear fruit. Construction is expected to begin this summer, with a partial completion date of 2016. Krog Corp. plans two hotels, apartments, commercial space and a parking garage at Trico. Krog will work with longtime partner Hart Hotels of Buffalo on the hotel projects.
A local investment group has purchased a South Buffalo apartment complex for a reported $1.55 million. The 32-unit complex at 323-331 Southside Parkway, has been acquired by South City Realty LLC.
Mortgage servicer PHH Mortgage Corp. has begun lay-offs at its Amherst location. By July 2nd, 135 people will be losing their jobs.