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Tour convinces Brown to aid Statler project

Thu, Sep 1st 2011 12:00 am

By JAMES FINK
jfink@bizjournals.com | 716-541-1611

A one-hour tour of the Statler City project - formerly Statler Towers - convinced Mayor Byron Brown that he should tap into previously allocated state funds to help developer Mark Croce restore the exterior of the downtown Buffalo landmark.

Brown, late Tuesday afternoon, said he will lead the effort to secure $5.3 million in aid from the Dormitory Authority of the State of New York to help underwrite a series of exterior renovations to the 18-story Statler.

The tour of the building was his first since Croce began a wave of renovations.

"I am absolutely blown away," Brown said. "This is nothing short of amazing."

Croce has taken a historic structure that was facing an uncertain future and a possible date with the wrecker's ball and brought it back to life. More than 50 weddings have been booked for the Statler, along with a long list of corporate and special events.

Before Brown would champion Croce's quest for the state funding, however, he wanted certain assurances, including a viable business plan for the building and proof that Croce was investing his own money in the redevelopment effort. All the conditions were met and then some, according to the mayor.

"This project is happening," Brown said. "Public dollars being spent here are public dollars being well-spent."

Croce plans to bring several restaurants and nightclubs to the Statler. He also envisions other uses for its upper floors that may include residential and office components, as well as a hotel. He paid $200,000 for the Statler after the building had been placed into involuntary Chapter 11 protection.

"This is and remains a works in progress," Croce said.