BUFFALO, N.Y. (WIVB) - HSBC bank has set a deadline of Thursday for a land transfer onthe Webster block, in Buffalo.
According to Buffalo Common Council Majority Leader RichFontana, the executive vice president of HSBC North America toldhim Tuesday morning that if a deal is not struck by Thursday,"we're out."
The land in question needs common council approval, so it can betransferred from the city to the Erie Canal Harbor DevelopmentCorporation.
Buffalo Niagara Partnership President and CEO AndrewRudnick would not comment to Senior Correspondent RichNewberg on a Thursday deadline.
He told Newberg, the transfer "needs to be done, we need to doeverything we can to show any perspective investor and tenant inthe canal side project that we are welcoming them, and doingeverything we can to facilitate a positive decision."
Rudnick went on to say, "Major investment opportunities in thecountry and our community are few and far between, given economicconditions."
In a phone conversation with Neil Brazil Newberg was told "weare looking at a range of options and we'll be making anannouncement in due course."
Fontana says the internal process of decision making at HSBCwill happen this week.
Newberg has learned of several other sites in thegreater-Buffalo area that have been under consideration byHSBC.
One of those sites is the old Freezer Queen location, on thesouthern end of Buffalo's outer harbor.
Plans for a $400 million project have included HSBC as theanchor tenant.
Two sites in Amherst have also been under considerationaccording to sources. One at the Crosspoint complex, the other atMuir Woods.
Common Council members are debating whether to just sell theWebster block to Erie Canal Harbor Development Corporation based onreported deadlines that HSBC has set. The bank is said to preferthat site as part of their relocation from HSBC tower.
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