BUFFALO, N.Y. (WBEN)....Canadian developer Harry Stinson says he has landed a new financial partner and with the cash flow infusion, he hopes to re-open the long shuttered Buffalo Grand hotel later this year.
Stinson confirmed his new partner is former Buffalo resident Perry Davis, who now resides in Tampa and has extensive interests in the real estate, hospitality and entertainment fields.
Stinson and Davis will be in Buffalo Friday afternoon (May 1) to further discuss their plans for the 486-room downtown hotel.
The new deal comes on the 90th day of a 90 day deadline Mayor Sean Ryan gave to Stinson to provide a development plan, including the financial outlay, for the Buffalo Grand, or the city was going to court to gain control of the property, issue an RFP and find a new hotel developer for the property.
Reviving the hotel and its 486-rooms is a top economic priority for Visit Buffalo and the Ryan administration as it could bolster's the city's chances of landing more conventions and special events.
Stinson has made several past pledges about renovating the hotel but, to date, none ever left the initial planning stage.
"I poured everything into this," Stinson in an exclusive interview with WBEN. "This is my future. I can't back off from the hotel."
Stinson bought the then-Adam's Mark Hotel in 2018 and pledged to invest more than $30 million in upgrading the property.
Only a few of the renovations were completed when the hotel shut down in March 2020 because of the Covid-19 pandemic.
The hotel was due to re-open in late December 2021, but a devastating fire that heavily damaged portions of the Buffalo Grand has left the property vacant and vandalized in recent years.
Stinson spent three years trying to secure a $50 million insurance settlement related to the fire. An agreement was reached three years ago, although Stinson declined to say how much he received.
"I spent millions on this hotel," Stinson said.
Reviving the hotel will take at least three phases.
The first phase is having a few floors and limited number of hotel rooms open along with the parking garage and coffee shop.
"Getting the front doors open and lights on is huge," Stinson said.
That phase may be completed by later this year.
The next phase is getting all 486 rooms check-in ready for visitors.
And, the last phase is to renovate the special event space for different uses including holding banquets and, even concerts.
Developer focusing on renovating and reopening downtown hotel
Developer focusing on renovating and reopening downtown hotel
