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Court Street building project still possible

Thu, Dec 6th 2007 12:00 am
By JAMES FINK
Business First

The Buffalo Planning Board agreed Tuesday to grant a six-month site-plan extension to lawyer/developer Carl Paladino for a proposed 11-story Court Street building.

The extension was given because Paladino's project remains locked in a series of bitter lawsuits between himself and fellow downtown Buffalo landlord Patrick Hotung, who owns the Main Place Mall-Liberty Building-Main Place Tower complex. The suits center on an offer Hotung made to the City of Buffalo to purchase the same parcel that Paladino is eyeing. Paladino's offer of $700,000 was accepted by Buffalo leaders, but Hotung made a counter offer of $1.25 million that was rejected by the city.

"This project could be a great one for the City of Buffalo," Paladino said. "But, at the same time, I am disgusted with people suing us."

Hotung's lawsuit was rejected in state Supreme Court but was heard last week by the Appellate Division of Supreme Court in Rochester.

Hotung said he wanted the parcel for a 600-space parking ramp to service tenants in his three buildings.

Paladino first proposed constructing a multi-tenant building on the parcel, which sits between Franklin and Court streets in 1988. His current plans call for the $45 million building to have 335,000 square feet and anchored by a series of Class A tenants.

Paladino said he had planned to break ground on the project already, but it remains stalled because of the lawsuits.

"We'd like to get it going in the spring if things work out," Paladino said.