Longer review OKd for Forge site
In what may be a key step to a Buffalo economic development agency acquiring the former Buffalo Forge property, the owners of the land have agreed to extend a pre-sale due diligence period.
The Buffalo Urban Development Corp. has negotiated a 90-day extension with the Howden Group Inc., owners of the 12-acre site that straddles Broadway along Buffalo’s East Side. The due diligence extension now lasts until May 18. It was due to expire on Feb. 17.
Buffalo Urban Development Corp. directors learned of the extension Tuesday morning.
The economic development agency sought the extension to review an environmental assessment of the longtime industrial site. A report commissioned by Benchmark Environmental Engineering & Science said the land, which includes parcels along Broadway, Mortimer and Spring streets, is “an excellent candidate for the New York State Brownfield Cleanup Program.”
“The extension will help us make a decision about whether we ultimately purchase the property,” said Peter Cammarata, Buffalo Urban Development Corp. president auto loan interest rates.
The agency made an initial offer of $60,000 for the land, but negotiations are continuing.
The final price for making the land development shovel-ready and environmentally sound could top $4 million, including removal of long-standing materials from the now-closed foundry.
Buffalo Forge, which dated back to 1877, was considered one of the country’s largest blacksmith equipment manufacturers. The plant, which Howden acquired in 1993, has been closed for more than a decade. Three years ago, Howden demolished the plant and cleared the site.
Depending on the environmental remediation, Temple Community Development Corp., an East Side group led by Rev. Matthew Brown, wants to use the land for a $17 million redevelopment effort that includes the construction of residential units and a community center. The project would serve as a key bridge between downtown’s central business district and the East Side.
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