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Buffalo Business News



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Buffalo Business Report - Thursday, December 18th 2014


Another piece of the Canalside puzzle locks into place tonight.  A 5pm performance by Neon Trees will precede a 530pm ribbon cutting ceremony for “Ice at Canalside.”

The New York Power Authority board has allocated low-cost hydropower to seven local businesses in WNY.  Those companies will receive 1,900 kilowatts of power to support a total of $34 million in capital

Buffalo Business Report - Wednesday, December 17th 2014


At its latest meeting, the Buffalo Planning Board approved revisions to proposals for both a new Tim Hortons on Niagara Street and for a three-story upscale townhouse addition to a historic Delaware Avenue mansion.  Both plans had sparked opposition in their respective neighborhoods.

Lawley Insurance has a pending acquisition for Connecticut-based DFM Insurance Inc.  The deal is

Buffalo Business Report - Tuesday, December 16th 2014


According to Business First, Developer Paul Kolkmeyer is closing on his acquisition of five buildings from businessman David Sweet.  Included in the deals are 3 adjoining properties at 237, 241 and 251 Main Street in Buffalo, as well as the Rand Building and the Main Court Building.  Total cost for those properties is reportedly $11.7 million.  Kolkmeyer pledges to invest

Buffalo Business Report - Monday, December 15th 2014


Although some locations are finally selling unleaded gas for less than $3 per gallon locally, the AAA puts the average cost for the region at $3.01.  The national average per gallon is down to $2.55.

The 6th local Marco's Italian Deli location opens today inside the Genesee Gateway Building.  This location faces out towards Genesee and Oak streets and the Catholic

Buffalo Business Report - Friday, December 12th 2014


Kaleida Health has officially closed on its $120 million HUD loan.  Business First reports the loan will save $50 million in interest payments related to the construction and development of the John R. Oishei Children's Hospital.  Prudential Financial Services is handling the mortgage package.

The Tops Plaza at Union Road and George Urban Boulevard in Cheektowaga and a

Buffalo Business Report - Thursday, December 11th 2014


The Buffalo and Fort Erie Public Bridge Authority has completed an improvement project to widen the bridge approach onto the U.S. plaza.  This will allow for better separation of truck and car traffic making it easier for cars to access inspection booths.

An engine manufactured at the Tonawanda plant for GM is an award winner.  The LT1 Small Block 6.2L V8 that powers the 2015

Buffalo Business Report - Wednesday, December 10th 2014


Another deadline extension for the M&T Bank Corp. and Hudson City Bancorp Inc. merger.  Business First reports top executives of both banking companies said they remain committed to the deal.  M&T is still awaiting approval from federal regulators to close the acquisition, and there's no indication if or when that will happen.  The new deadline for the pending merger is April

Buffalo Business Report - Tuesday, December 9th 2014


Architect/developer Karl Frizlen has designs on converting the vacant St. Thomas Aquinas School into a project anchored by 32 market-rate apartments.  The $5 million project is going before the Buffalo Planning Board and Zoning Board of Appeals in two weeks.  The proposal does not impact the neighboring St. Thomas Aquinas Church.

KeyBank N.A. has inked an agreement with ATM

Buffalo Business Report - Monday, December 8th 2014


The AAA puts the local cost for a gallon of unleaded gas at $3.14 in WNY.  That's seven cents less than the cost last week.  The region's price has fallen fifty cents since this time last year; still Buffalo's average is among the highest of the Lower 48 states.

Catholic Health has been approved to assume ownership of Mount St. Mary’s Hospital.  A

Buffalo Business Report - Friday, December 5th 2014


Business First reports an Amherst shopping center, anchored by a Tops Friendly Market, has been sold at price of $11.9 million.  The plaza at 3035 Niagara Falls Boulevard was sold by Cleveland-based DDR Corp. to Amherst TK Owner LLC.
The song "Looking For Love" in all the wrong places does not apply to Buffalo.  The newest edition of the Census Explorer notes that the

Buffalo Business Report - Thursday, December 4th 2014


As anticipated, the Buffalo Planning Board approved a proposal by the Cincinnati-based Miller-Valentine Group to renovate the former A&P Warehouse on Swan Street.  Business First reports the $26 million-plus project will result in
a building with at least 120 market-rate apartments.

Two months into the new federal fiscal year, the U.S. Small Business Administration's Buffalo

Buffalo Business Report - Wednesday, December 3rd 2014


State Attorney General Eric Schneiderman is asking banks and utilities to waive late payment fees for residents in western New York who were affected by the recent snow storm.  Schneiderman also is directing housing counselors and legal services providers to assist residents in resolving insurance claims or issues with contractors.

The Amherst Industrial Development Agency is considering

Buffalo Business Report - Tuesday, December 2nd 2014


Data from STR of Nashville shows hotel occupancy in Buffalo and Erie County was down a bit in October, but the average daily room rate was up.  Business First reports the hotel occupancy rate in Buffalo and Erie County dropped just 1.2 percent in October of this year, when compared to the occupancy rate from a year ago.  Part of the reason for the drop was the increased inventory

Buffalo Business Report - Monday, December 1st 2014


The AAA reports that the cost for a gallon of unleaded gas in the area has dropped by a dime from this time last week, to $3.21 per gallon.  The national average per gallon is $2.77.  It should be noted that Syracuse motorists are paying $2.98 per gallon - and the pump price of $3.24 per gallon in New York City is the highest in the lower 48 states.

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