BUFFALO (WBEN) - Mayor Byron Brown with a significant development reveal Wednesday, announcing his recommendation that Douglas Development Corporation take over the 61 Terrace lot.
The city-owned parking lot sits in between the the 190 and Skyway interchange, and it's located across from Seneca One Tower and across the off ramp from Pearl Street Brewery.
The firm wants to construct a nine-story mixed use property, featuring a four-level parking structure, topped with five floors of apartments that will be aimed at workers within Seneca One.
The project is estimated to cost roughly $42 million, and the goal is to have construction completed in about 24 months.
"We have an opportunity for an asphalt, surface lot to become the site of the next key piece of our city's rapidly evolving downtown," said Brown. "I will be asking the Buffalo Common Council and the Buffalo Urban Renewal Agency to name Douglas Jemal and his firm the designated developer for 61 Terrace."