Krog Corp.’s $87 million proposal to convert the former Trico Products Corp. manufacturing building into a mixed-use complex got an initial green light from the Erie County Industrial Development Agency for up to $3.6 million in tax breaks.
The ECIDA’s powerful Policy Committee, which must review all incentives before the board votes, approved Orchard Park-based Krog’s request for property, sales and mortgage recording tax breaks to help the developer finance the ambitious project. Buffalo Mayor Byron W. Brown said both he and Deputy County Executive Maria Whyte, on behalf of County Executive Mark C. Poloncarz, “spoke in strong support” of the incentives, and there were no dissensions on the panel.
Krog plans to redevelop the 617,000-square-foot complex – actually five buildings constructed between 1890 and 1954 – into a 479,475-square-foot combination of residential, hotel, educational, commercial and retail space. Current plans call for a 138-room extended-stay hotel, primarily for Medical Campus patients and visitors, to be run by Krog’s partner, Buffalo-based Hart Hotels Corp. Additionally, the building would house a new Buffalo Culinary School, as part of an expansion of the city’s Emerson School of Hospitality.
There would also be 130 to 150 loft-style, market-rate residential apartments, ranging from 1,200 to 2,000 square feet in size, aimed at Medical Campus employees and graduate medical students, plus commercial office and some retail space to meet Medical Campus and neighborhood needs.
Krog hopes to start work by September, complete the hotel and commercial space by August 2018, and the rest of the project by March 2019.