NON-PROFIT FIRM BUYS CENTRAL TERMINAL, HAS REFURBISHING PLANS.
(LOCAL) Rick Stouffer. August 29, 1997
Full Text: COPYRIGHT 1997 The Buffalo News. All rights reserved.
RICK STOUFFER - News Business Reporter
Buffalo's Central Terminal, once considered a gem in the nation's railroad empire but subjected recently to vandalism and false redevelopment starts, finally has an owner who cares.
Central Terminal Restoration Corp., a non-profit firm that is part of the Polish Community Center of Buffalo, has purchased the huge structure and its 18-acre site from B.C.T. Inc., a firm controlled by Samuel Tuchman. The price was a symbolic $1.
"The property has been sold, with the transaction to be completed before Labor Day," said Gregory Davis, Tuchman's attorney.
One stipulation of the deal agreed to Thursday in Buffalo Housing Court was that Tuchman pay half of the back taxes owed on the Paderewski Drive property, roughly $25,000.
A proposal allowing the Polish Community Center to acquire the Paderewski Drive property was first put forth by Fillmore District Councilman David A. Franczyk late in 1996.
"This is a big deal for the neighborhood and for the city," Franczyk said. "We're very encouraged by this development; finally, a long list of destructive private owners, who owned the property and had big dreams but no capital, is ended."
Principals in the non-profit organization that now owns the Central Terminal site include Scott Field, housing director for the Polish Community Center; Tim Tielman, director of the Preservation Coalition of Erie County, and Tom Hryvniak, president of the Broadway Area Business Association.
"We are encouraged that ownership of such a significant city landmark has passed into the hands of local preservationists who have a conscience, a commitment and a sense of community," said Mayor Masiello. Field said the immediate goal for the new owners is to seal and secure the building. Years of neglect had left the majestic 16-story tower a victim to the whims of vandals who thought pieces of the property could be sold elsewhere.
Toward that end, Franczyk is prepared to hand the new owners a $370,000 check, which includes $300,000 in federal preservation funds and $70,000 in community block grant money allocated by Franczyk. The entire amount has been approved by the Common Council.
In 1995, Franczyk persuaded Mayor Masiello to recommit about $300,000 of $1.5 million in federal preservation funds for the Central Terminal.
The sad decline of the Central Terminal dates back more than a decade. Telesco Leasing purchased the property at auction in 1986 but never made significant improvements to the site.
Samuel and Bernard Tuchman arrived on the scene in 1990, taking an option on the property and finally taking it over four years later.
While the new owners are just taking over, Field said they will rely on previous engineering and restoration studies, which point to a complete refurbishment of the Central Terminal costing roughly $55 million. That amount would allow the first floor of the facility to be used possibly for retailing, with upper floors committed to so-called back office uses, such as a call center.
Franczyk said one use for the terminal, as fill for another construction project, never will occur.
"It would cost $16.5 million just to demolish the site -- that will never happen," Franczyk said.