Skip to primary navigation Skip to main content

Buyers for Statler ...

   The thinkers in The Buffalo News Opinion corner today have some hope for a downtown icon, and appreciation for one of the areas great art patrons.

- Saving the Statler - Buffalo News Editorial
   Once again, a glimmer of hope flickers at the Statler Towers as yet another potential team steps forward to redevelop the historic landmark on Niagara Square. Businessmen Mark D. Croce and James J. Eagan Statlertowers have offered to buy the building.
   [Local businessmen bid for Statler Towers - Buffalo News, 8/4/10
   But there's much to do to save Ellsworth M. Statler's once-grand flagship hotel, an iconic 18-story structure that spans 800,000 square feet. Croce and Eagan should be encouraged to take on that challenge with a realistic plan the bankruptcy court can approve. ...
   There is some reason for hope in the Croce-Eagan bid, which involves $200,000 in cash and the assumption of about $500,000 in tax debt. Croce is, after all, a well-known and innovative downtown developer with successful restaurants, parking lots and a planned downtown boutique hotel; Eagan is a partner and executive vice president of Midwood Financial Services, a national company that provides financial products to banks, regional brokerage firms and independent brokerage dealers.
   Even these guys are being cautious, wanting to take things "one step at a time," as one of their lawyers aptly put it. Many Buffalonians, who have learned over many decades to take a similarly cautious view of major projects, probably will share that thought.

tagged

Behind the News | Current Affairs | Editorials
comments powered by Disqus