New Owners = New Life for the Statler?
The Statler Building is on the market with an asking price of $7.5 million. Owner Gerald A. Buchheit has confirmed that the Niagara Square landmark is for sale and that potential buyers, some from out of town, have toured the building. Ellsworth M. Statler built the 19-story, 1,100 room hotel in 1923 as the flagship of his hotel chain. It quickly became the heart of downtown and the center of Buffalo’s business and social scene. In 1984, the final 330 hotel rooms were closed in favor of office space. Much of the building’s original grandeur remains as a number of owners and several renovations have not altered the ambience of the lobby and other public space. The Golden Ballroom, Rendezvous Room and Terrace Room have been restored in recent years for banquets, receptions, and events. The property was briefly considered as a location for the Seneca Nation Indian Casino but instead selected a location in the Cobblestone District. There have been persistent rumors that at least one would-be owner is interested in putting residences in some of the unused floors of the building.
Here's a post about Statler's history.
Photos: CitySky photography by Nate Farnsworth
This really is news! Can you imagine? Hopefully the Barnes Firm will do something with their first floor disaster area on Niagara Square. You'd think that with all the money they put into advertising, they would be able to dress up their offices so they don't look like a third rate motel. Talk about the perfect billboard for a business!
"Good" residences would be wonderful. Think of the old LL Berger's conversion.
"Bad" residences would be a total disaster. Think of the Hotel Lafayette and the neglect factor.
Any news as to what the intended project would be about, WCP?
It depends on who buys it....
Norstar Development has had an interest- they redid the Ellicott Complx on Michigan and are rehabbing the Shoreline Apts. They do upscale also- they recently announced a 20 story residential project for downtown Albany and their parent company does condo developments in Toronto. Business First is also reporting interest in returning a portion of the property to hospitality use.
Keep your fingers crossed for a quality redeveloper- whoever buys it is getting a bargain and will need to invest millions. But where else can you buy a property like this for about $10/sq.ft.?!?!
I'd love to see it return as a four star hotel. But then there might be a glut of hotel space with the Hyatt and Adam's Mark. Is there a need for another swanky hotel in Buffalo?
That's one thing Buffalo is missing - classy, swanky OLD hotels. The Mark Adams is ugly on the outside and tacky on the inside. It belongs near the airport.
I'd love to see the Statler AND the Lafayette return as grande hotels. Probably not economically feasible now, but someday Buffalo will need these beauties.
Ditto that, larry B. I'd love to see both those old hotels return. I attend conferences frequently in Chicago. They are held at the Chicago Hilton and Towers on Michigan Avenue. Its almost a clone of the Statler (Hilton) hotel except larger. That, and the DRAKE HOTEL in Chicago are like sisters of the Statler and Lafayette. Both are very successful 4-star hotels and pricey. The drake serves "High Tea" each afternoon. By the way did you know the Lafayette was designed by the first woman architect in the United States: Mary Bethune? I'd love to see a serious owner get their hands on both of these lovelies.
Mary Bethune is buried in Forest Lawn, and is of course the namesake of the home of UB's Art department for many years (that building, however, has been sold recently)
We unfortunately dont need any more hotels...we wlaready have the lowest ocupancy rate in NY State...so more available rooms would just make it worse for current owners of hotels. It would be such a great mixed use project of Retail, restaurants, conventions space, office space and residential condos and high end apartments. However, it would cost in the 40-50 million range to completely rehab and unfortunately does not make economic sense given our demographic here. It is a real shame because this could make a statement...a big one.
It would be a great conversion to upscale residental spaces with some hotel space, Retail taking over the lobby and outside store fronts would be a nice addition to the growing downtown population. Make this grand old building a place for everyone to enjoy and want to be again. The multi level lobby can be a wonderful shopping plaza as it was decades ago.
I'd check my facts, momo. Buffalo's Hotel occupancy rate is often quite good. If we had a serous convention center in this city it would be through the roof and we would need far more rooms than what are currently available. I wouldn't believe everything that Paul Snyder says. I wonder where we will put a new convention center when the time comes to demolish the old one and open-up that clogged artery eminating from McKinley Circle? I wonder how this would affect the Statler?
qpfxw: are you saying that the Lafayette has been sold? Do you know to whom?
qpfxw: has the Lafayette been sold?
qp was referring to Bethune Hall, the former UB building on Main near the LaSalle light rail station. It has new downstate owners who are planning a mixed-use renovation project.
OK Where are we going to park all of these new residents? They have to carry groceries etc. Plus, this isnt WIlshire Blvd where there is a valet for every resident in the building. Parking will be the only challenge to this redevelopment. Too bad there isnt underground pkng.
PS Buffalos Occupancy rate is not good my friend. Ask Paul Snyder at the Hyatt. We are in the bottom 15 percent in the US. Check your facts
This would make a great location for mix use Hotel and Condo's. Many old hotels around the country are doing this with of course retail shops in the lobbys. Imangine having the Statler Tower as your home address.