Peg Overdorf loves to talk about waterfront development.

It's just that none of it has anything to do with big-box retail anchors or glitzy nightclubs.

Overdorf's vision is simultaneously more basic and based heavily on accessibility.

Her dream is a five-mile path that begins at Erie Basin Marina and winds its way along the shore of the Buffalo River to just beyond the New York Power Authority ice boom resting spot off Hamburg Street. The path would offer a close-up view of Buffalo's industrial past and present, including almost eye-to-eye views of grain mills.

Sitting in her office at the Father Carmichael Valley Community Center, which she runs, it is difficult not to catch a dose of her enthusiasm. Besides myriad charts planning her riverside walking-biking-running-dog walking trail, there are historical shots of Buffalo that would make many envious - the best of which is a circa 1946 shot of downtown from Lafayette Square looking west to Buffalo City Hall down the Court Street spine.

Building the path is a personal mission for Overdorf. And don't, for one minute, underestimate her.

She's got a track record for making the impossible happen, with the Valley Community Center the most visible sign of her "can do" and "never say die" attitude. She took an underutilized building where Leddy Street and South Park Avenue met and turned it into a mini-city hall where children have a safe haven and can learn and adults have a bingo hall.

"I never underestimate Peg," said Assemblyman Mark Schroeder.

Not that it took much, but Overdorf lobbied him to find state funds for her riverwalk dream. And Schroeder delivered.

The first chunk was $4.7 million to buy and renovate what will be Riverfest Park on Ohio Street, not far from HSBC Arena and Seneca Buffalo Creek Casino. Renovation work has begun on the 2.5-acre parcel, which Schroeder jokingly calls ‘Peg's Park." Once a lot filled with empty beer bottles and knee-high weeds, it's being transformed into a brand-new waterfront showplace.

The park will feature a brick bandshell/pavilion, gazebos and plenty of green space. Work is expected to be complete by Thanksgiving.

"It will be open to anyone, not just people from the Valley or the First Ward," Schroeder said.

Overdorf, meanwhile, said she hopes the park becomes a magnet. She envisions the day when concerts and special events take place there on a routine basis. Next summer's Riverfest has already committed to using the park as its home base.

Also in the works: a two-story building that potentially can house a small restaurant or concession operation along with some meeting space. A few docks and slips - good for short stays - also may be in the works.

"We will need things like that to create revenue streams," Schroeder said.

More important, Overdorf wants to see historical markers put in place to give visitors a snapshot of Buffalo's industrial heritage. The markers should be along the trail.

"It's a story that needs to be told," she said.

Creating the five-mile walkway isn't as complex as one might think. Some walkways already exist, including a little-used one that sits behind the DLW Terminal.

Imagine walking from Erie Basin Marina through the Canal Side project, behind the DLW Terminal and along the Buffalo River to Hamburg Street. You could take in such sites as the grain mills - both the working ones and the mothballed versions - the Cotter fireboat and neighborhoods where Buffalo was really born.

"Is it a challenge," Overdorf admits. "But I see it happening. And a lot sooner than you can imagine."

Don't bet against her.

Real Estate briefs

• As Tops Markets LLC continues its $150 million store renovation program, work at various stores is gradually being completed.

The latest is a complete renovation of a 77,000-square-foot store at 5175 Broadway in Depew. The work was the most extensive done to the store since it opened in 1996.

The store is actually owned by Supermarket Management Inc. as a Tops franchisee.

"This store has served the Depew-Lancaster community well since it opened almost 14 years ago," said Phil Perna, Supermarket Management president.

• What's the going price of an M&T Bank branch?

If it is in Lake Ridge, Va., it's $2.18 million.

That's how much Reston, Va.-based Calkain Cos. was able to get for the branch. The company brokered the sale to a New England-based development group.

"The M&T Bank is well-situated in a grocery-anchored center within a large and diverse residential community," said Rick Fernandez, managing director, Calkain Urban Investment Advisors. "The solid real estate fundamentals and strong credit of the tenant drew a large number of investors."