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Thread: Will the world end if HSBC moves to Amherst?

  1. #1
    Member Linda_D's Avatar
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    Will the world end if HSBC moves to Amherst?

    Well, since we're preparing for Doomsday, let's at least be realistic. HSBC moving to Amherst is much more realistic than HSBC moving out of the area entirely.

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    Linda, we know that you're not a City person. We know that, many times on here, you've made the tired old "why does everything have to be in the City?" whine.

    But, to answer your question - of course the world would not end. But, it would be a TREMENDOUS blow to downtown Buffalo.

    But, we know that you really don't care about that, so this conversation is really pointless.

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    STILL a loss....

    Quote Originally Posted by therising View Post
    Linda, we know that you're not a City person. We know that, many times on here, you've made the tired old "why does everything have to be in the City?" whine.

    But, to answer your question - of course the world would not end. But, it would be a TREMENDOUS blow to downtown Buffalo.

    But, we know that you really don't care about that, so this conversation is really pointless.
    IT WILL STILL BE A TREMENDOUS BLOW ..to downtown...what happens to the TOWER??...will it become another STATLER??
    P.S. If they move to Amherst...Will my property taxes go down??

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    Member Bioguy231's Avatar
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    It sounds like HSBC is leasing space in the tower. Who owns the tower?
    Government is not the solution to our problem. Government is the problem. Ronald Reagan

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    Member leftWNYbecauseofBS's Avatar
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    Quote Originally Posted by Bioguy231 View Post
    It sounds like HSBC is leasing space in the tower. Who owns the tower?

    Seneca One Realty

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    Tony Fracasso - Admin
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    On a building that large what do they do? Just keep paying basic mothballing expenses until they can find someone to lease it out?

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    Quote Originally Posted by WNYresident View Post
    On a building that large what do they do? Just keep paying basic mothballing expenses until they can find someone to lease it out?
    I think it is the only property they have...looks like investors setup the company just for this building. So they could walk away if the write off is the right size.

    I wonder how much was paid for the building....

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    Member Linda_D's Avatar
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    Quote Originally Posted by therising View Post
    Linda, we know that you're not a City person. We know that, many times on here, you've made the tired old "why does everything have to be in the City?" whine.

    But, to answer your question - of course the world would not end. But, it would be a TREMENDOUS blow to downtown Buffalo.

    But, we know that you really don't care about that, so this conversation is really pointless.
    What's pointless is blaming government for HSBC leaving the area -- when it hasn't indicated it was even considering that. It has considered moving to Amherst, though.

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    they have 24 months

    with only 24 months to work with the city is impossible. winter is 4 months away then 3 months of bad construction weather. To get this done plans will have to be drawn up quick. ground breaking before this winter gets bad so the foundation work can start. that way they can get the iron workers framing the building during the winter.
    a building that big will not be built in a few months it will take almost all of the 24 months to get this built if they are smart they will apply for permits downtown and in Amherst and see who moves fast enough to get this done. our only hope is that they don't have NYC and Chicago doing the same thing. could be its a four way race to see who gives the OK fastest
    the way buffalo moves it could be last place for the city unless someone can convince council it's now or never
    One good thing about growing old is your secrets are safe with your friends they can't remember them either

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    Quote Originally Posted by therising View Post
    Linda, we know that you're not a City person. We know that, many times on here, you've made the tired old "why does everything have to be in the City?" whine.

    But, to answer your question - of course the world would not end. But, it would be a TREMENDOUS blow to downtown Buffalo.

    But, we know that you really don't care about that, so this conversation is really pointless.
    downtown buffalo needs a death blow - something to shake it out of the 1960's, which it has been trying to recreate ever since the 1970's.

    It is time to move on into the 21st century - more accurately, the second decade of the 21st century.

    Buffalo should be divided into 5 to 10 autonomous government units. Existing activity centralized in downtown should be encouraged to spread out to the 5 to 10 districts.

    Take a ride through the neighborhoods - it is all getting worse, not better. The central business district is the only place in Buffalo where economic activity is vibrant. that activity needs to be diversified into the neighborhoods.

    Or, then again, Buffalo could just keep doing what it has been doing for the last 40 years - chasing an archaic vision and continuing to fall into the abyss.

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    Let me second the motion on the death blow. I almost wish the land deal didn't go through. Let HSBC take their marbles and go to Amherst or Annapolis or Antarctica. Right now, downtown Buffalo is hanging on by a thread - take HSBC out of the picture and what's left?

    What's that about having to hit rock bottom before you see the light?

    I'm so sick of this city being operated like a Chinese Fire Drill - tell our idiot mayor and all of his patsies to quit being a bunch of wussies and start playing hardball. This endless barrage of pussyfooting around with big companies is downright embarrassing.

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    Member NBuffaloResident's Avatar
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    Quote Originally Posted by nogods View Post
    downtown buffalo needs a death blow - something to shake it out of the 1960's, which it has been trying to recreate ever since the 1970's.

    It is time to move on into the 21st century - more accurately, the second decade of the 21st century.

    Buffalo should be divided into 5 to 10 autonomous government units. Existing activity centralized in downtown should be encouraged to spread out to the 5 to 10 districts.

    Take a ride through the neighborhoods - it is all getting worse, not better. The central business district is the only place in Buffalo where economic activity is vibrant. that activity needs to be diversified into the neighborhoods.

    Or, then again, Buffalo could just keep doing what it has been doing for the last 40 years - chasing an archaic vision and continuing to fall into the abyss.
    More or less, I agree. Except for the over-generalization of the neighborhoods. Grant St, Amerst St, and Elmwood Ave are alive and well right now. Grant is on the "up and coming" list, to be more exact.
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    Quote Originally Posted by ghosthunter View Post
    Let me second the motion on the death blow. I almost wish the land deal didn't go through. Let HSBC take their marbles and go to Amherst or Annapolis or Antarctica. Right now, downtown Buffalo is hanging on by a thread - take HSBC out of the picture and what's left?

    What's that about having to hit rock bottom before you see the light?

    I'm so sick of this city being operated like a Chinese Fire Drill - tell our idiot mayor and all of his patsies to quit being a bunch of wussies and start playing hardball. This endless barrage of pussyfooting around with big companies is downright embarrassing.
    Just hanging on by a thread? I'd say downtown is much stronger today than it was 10 years ago, even 20 years ago. Maybe you should visit or pay attention to what's happening down there. There's still plenty of work to do, and it may never be a regional shopping destination again, but there has been a lot of good things that have been developed and much more planned- both public and private investment.

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    Quote Originally Posted by WestCoastPerspective View Post
    Just hanging on by a thread? I'd say downtown is much stronger today than it was 10 years ago, even 20 years ago. Maybe you should visit or pay attention to what's happening down there. There's still plenty of work to do, and it may never be a regional shopping destination again, but there has been a lot of good things that have been developed and much more planned- both public and private investment.
    Oh please, I'm there almost everyday. Yes, during the week, it's busy, but try going there on a Saturday or Sunday. Looks like a ghost town. I've been to many cities where weekends are just as vibrant as workdays. In downtown Buffalo, on Saturday afternoon, you will see a couple groups of Asian tourists with cameras posing in Niagara Square. That's about it. Please don't tell me I don't know what I'm talking about - I absolutely do.

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    Quote Originally Posted by leftWNYbecauseofBS View Post
    I think it is the only property they have...looks like investors setup the company just for this building. So they could walk away if the write off is the right size.

    I wonder how much was paid for the building....
    I think Seneca One is actually owned by a REIT. They paid either 80 or 90 Million for it just a few years ago. Then they put it on the market within months of buying it. By the time the leases expire (HSBC and Philips) they will have gotten their equity out of it; then they can walk from it.

    The only loser is the lender. And, as I said in a different thread, I see it as a huge opportunity to have Buffalo attract a major company HQ.

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