February 14, 2024 Buffalo Central Terminal’s Development Team Announced

The project adds to several recent multi-million-dollar investments into Buffalo’s East Side.

BUFFALO, NY – The Central Terminal Restoration Corporation (CTRC) and the City of Buffalo have selected the development partners for the $300 million historic reuse transformation of Buffalo’s Central Terminal. CB Emmanuel Realty LLC, The Alexander Company, and Rise Community Capital, will develop the former train station into a mixed-use campus.

“The selected development group brings a combined wealth of experience and a proven track record of revitalizing historic landmarks,” said Empire State Development President, CEO & Commissioner Hope Knight. “After a very thorough national search that brought in a number of quality responses, we are confident that CB Emmanuel, The Alexander Company, and Rise Community Capital will usher in a new era for the Central Terminal and turn this iconic structure into a catalytic anchor for the Broadway-Fillmore neighborhood and East Buffalo and a generational investment in the City of Buffalo.”

This team was selected for alignment with the CTRC’s vision, plan and program; financial capacity and feasibility; diversity, equity, and inclusion goals and strategies; and team structure, as well as experience and capabilities.

“I’m proud to partner with the Central Terminal Restoration Corporation to breathe new life into this historic structure. I commend the hard work of my staff in the Office of Strategic Planning. They worked for the past three years to develop plans for the redevelopment of the Central Terminal, including 59 Memorial Drive,” said Mayor Byron W. Brown. “My administration is dedicated to development and neighborhood building throughout the city of Buffalo.”

A $61 million initial investment from the Regional Revitalization Partnership to support this multiphase, 10-year $300 million project is focused on efforts that build the CTRC’s capacity and prepares the structure and grounds for redevelopment and use for community-minded events and programming.

“Once completed, this space will transform into a bustling lifestyle hub, offering affordable housing, green space and entertainment,” said Tom Kucharski, president and CEO of Invest Buffalo Niagara. “The Central Terminal project, alongside other development areas in Buffalo’s East Side, aims to drive economic growth, preserve our city’s heritage and prioritize equity and inclusion for residents.”

Central Terminal is located in Buffalo’s East Side, which has seen several redevelopment projects in recent years, including the Northland Corridor – a $60 million project that includes the Northland Workforce Training Center (NWTC), which upskills community members for jobs in advanced manufacturing and clean energy. The NWTC produces $10.8M in annual economic impact and over 60 percent of its students are a minority.

East Side Avenues program, a $65M investment, is strategically targeting four main avenues in Buffalo’s East Side to maximize economic impact for those working and living in the community. This includes leveraging Buffalo’s Broadway-Fillmore neighborhood’s dense stock of largely historic commercial buildings for new green space, retail-oriented streets, and improved bike and pedestrian connections.

In terms of housing, this summer the region announced a $23.5M investment for the development of affordable homes on vacant city-owned lots on the East Side. This news came shortly after the completion of Mount Aaron Village, a $20.3 million project that included 59 new affordable apartments and 17 townhomes for 300 residents.

About Central Terminal Restoration Corp.
The historic Buffalo Central Terminal is a prominent feature of Buffalo’s East Side and the Broadway Fillmore neighborhood. The not-for-profit Central Terminal Restoration Corp. (CTRC) has been the caretaker for more than 20 years. The future of the Buffalo Central Terminal is a singular catalytic opportunity to ignite a shared vision for a new future. The community driven Master Plan reestablishes the Terminal as a hub of activity – a beacon that attracts people and investment, celebrates, and fosters community voice and connections that shape broad and equitable revitalization efforts, and contributes to the strong future of the city and region. More information and photos can be found in the CTRC Media Kit.

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