Templeton Landing: "No 1 of all locations"

BUFFALO, N.Y. (WBEN)......All the lawsuits have been settled and now, Buffalo is turning its development attention to the future of the Templeton Landing property - a prime and picturesque waterfront parcel that overlooks the Erie Basin Marina.

For the first time since California-based Specialty Restaurants built the former Crawdaddy's in 1982, the parcel has reverted back to the Buffalo Urban Renewal Agency. The agency is expected to issue an RFP to the development community seeking options for the property.

"We need to think creatively," said Fillmore District Councilman Mitch Nowakowski " We need to think about the next 30 years."

The RFP may not be issued for a few months, or longer.

Under terms of a negotiated settlement with Specialty Restaurants, they can continue to honor previously-booked special events including a few weddings.

Bob Schell, Pyramid Brokerage of Buffalo president, thinks the Templeton Landing site is a rare development opportunity.

"It is No. 1 of all locations," Schell said. "This is an opportunity on a generational scale."

Schell said it might make more sense to demolish the restaurant and determine a development plan that includes where the building currently stands. Most of the parking lot should remain.

"This is a classic case of 'location, location, location'," Schell said. "How many good sites are there on Buffalo's waterfornt. This would be at the top of the list."

So what might go there?

A hotel.

A mixed-use, residential-anchored building

An apartment or condo building.

Keeping the restaurant there, given its legacy location.

"You need a developer with patience and vision," Schell said.