<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=47E3Jb_1GogIB0X00" alt="https://img.particlenews.com/image.php?url=47E3Jb_1GogIB0X00" width="640" height="360" ></figure>The developer who seemingly bought up half of downtown Buffalo several years ago is now selling off some of that property including the prominent HSBC Atrium Building.2 On Your Side spoke with a downtown development advocate who talked about what he would like to see there as Douglas Jemal seeks to sell that property.Buffalo Business First reported back on April 2 that Jemal sought in a State Supreme Court challenge to have the building's city property tax assessment value lowered from his original purchase price of $9 million down to $2.25 million.That was one of numerous challenges filed for his city properties according to Buffalo Business First.The six-story, 270,000-square-foot office building with the official address of 95 Washington St. is now officially listed for sale or lease with the CRBE commercial real estate firm.While it was originally the home of HSBC Bank employees when built in 1990, there are some ideas of what might work there in the future.Peter Burakowski, executive director of Buffalo Place, realizes it may still be used for offices, but he also feels the prominent open atrium space could be a selling point for other uses with a downtown emphasis."We at Buffalo Place are always looking to increase the residential density of downtown," Burakowski said. "So we would applaud any efforts to include residential in that project in the future. And also, when you look at where that building is located, right next to the (KeyBank Center) hockey arena, Harborcenter, Canalside, the Cobblestone District, it's a great place to add in additional hotel rooms."That might really help address the city's hotel room shortage as the Buffalo Grand Hotel legal stalemate with the owner of that building Harry Stinson just drags on.Burakowski notes there are other nearby factors including the Golisano Institute in the former Buffalo News building, which is right down the street along with other in-progress development."You see how that has brought such vibrancy back to that building after being inactive for a little while," he said. "So I think when you have the transparency of that atrium building, and as it becomes active once again, those things tend build on each other in terms of a sense of momentum."He added: "If you stand at that same corner, you see the buildings at Heritage Point that are taking shape, and it really transforms that pedestrian experience you know as you see those buildings rise."Finally, Burakowski says the HSBC Atrium's adjacent 650-car parking lot would obviously be good for building access parking or other future plans."I can see how that might be attractive to a developer to put new buildings on that property and increase that density of activity," he said.2 On Your Side did not get a response from our messages to Jemal, who reportedly seeks $50 million for this property after buying it in 2022 for $9 million.Jemal, who has been shrinking his Buffalo property portfolio, now only lists Seneca One Tower, Hyatt Regency Hotel, Amherst Wegman's store, Police Apartments, and the relatively new Elmwood-Bidwell Apartments on the website of his company's Washington, D.C.-based company Douglas Development.</div></body>

Block Source: Yahoo!

Misinformation

Clickbait

Old or repetitive news

Explicit content

Location not relevant

The developer who seemingly bought up half of downtown Buffalo several years ago is now selling off some of that property including the prominent HSBC Atrium Building. 2 On Your Side spoke with a downtown development advocate who talked about what he would like to see there as Douglas Jemal seeks to sell that property.

Future use ideas, interest for HSBC Atrium property in Buffalo

NewsBreak

The developer who seemingly bought up half of downtown Buffalo several years ago is now selling off some of that property including the prominent HSBC Atri

Future use ideas, interest for HSBC Atrium property in Buffalo

Comments