Around this time in the year we were supposed to find out about Wyndham committing to the Statler and Issa getting some cash flow from a European bank…

…not so much.

Instead, his Manchester portfolio is all but pipe dreams and what has been built-is no longer his…

Crain’s Manchester Business has reported that the BSC Group - the development company Issa operates - has seen two of its projects turned over to David Costley-Wood of the Manchester office of KPMG. The projects include the Sarah Tower, a proposed downtown Manchester tower that was supposed to house a hotel and after attempts to sell 130 apartments fell well short of its goal, and the partially-completed Sarah Point that would have included 140 apartments plus a health clinic and retail component.

He’s still giving the Statler project the old college try however…

Issa’s representatives have reached out to Erie, Pa.-based Scott Enterprises, a family-run hospitality company, regarding a partnership with Issa’s BSC Development Buffalo. The deal under discussion would see Scott become the hands-on operator of a proposed 346- room Wyndham hotel.

Issa has told the British press he is negotiating with Gresham Ltd., a London-based lender on a $240 million (U. S.) loan. He has also filed an application with New York State for $20 million in Historic Tax Credits.

I still believe the Statler will get done somehow but god knows how long it will take. Its embarrassing to know that my first blog post about him saving the Statler is in building’s lobby and “Press Release” section of the Statler site.

The fancy websites, the yachts, the pay-to-watch speeches. What an incredible facade.

Note to self: When a rich man from abroad with no development experience in the states and very limited ones in the Buffalo of the UK- Machester- undertakes two large development projects downtown, be more suspicious next time.

Well we’ve all jumped on the Bashar Issa bandwagon and now most of us have jumped completely off it…but perhaps we should leave one foot on it.

The hysterics surrounding his financing of the Statler project falling through might just be an exaggeration. Issa insists he is merely applying for historic tax credits and that wait will take about 90-120 days. That makes sense…although I can’t figure out why he didn’t apply for them in the 1st place.

Issa adds that he is still going hard at making the City Tower a reality through ‘agressive marketing’.

” ‘We haven’t neglected the other proposition at all. We’ve invested heavily into marketing….I am in dialogue with several large hotel chains which are keen to me and the region.” He says wants a 40 percent occupancy before a shovel goes in the ground.”

The reality is that he has spent millions already on renovating the Statler and has an agreement with Wyndham to take up 70% of the tower. He purchased the land parcel for City Tower and has put serious efforts into marketing both his projects through two high-quality websites and even publishing a book about the history of the Statler.

His history is checkered and frustrating at best but I see the Statler project working out just fine by 2010 and although I doubt City Tower will get built at least at the height he wants…it has become clear that downtown has an underserved market that could withstand a couple mid-sized or one large-sized tower…with or without an out of town investor/savior.

Stumbled across a link to the official website of the Buffalo City Tower over on the skyscraperpage.com forums.

Fantastic website. Especially for something that in all likely-hood will not get built.

Looking at new images, they spruced up the design of the building and added a big pole to the top for accent. It looks great. The descriptions of the inside suggest it would be quite the classy experience whether you lived, worked, or visited in that building.

I do believe there is a legitimate market for this tower but after seeing how the Statler Renovation has unfolded in regards to the pace of work and the severe union issues-I would be genuinely shocked if this actually got built.

The building design won an honorable mention for best designed buildings not built. Lolz.

Its my first day back in Buffalo and I’m greeted with the news that Bashar Issa will in all likely hood not build the City Tower due to his construction workers becoming unionized. Newell who apparently is Bashar’s appointed and/or self-appointed hype-man makes this out to be a situation in which unions are holding back Buffalo and poor Bashar, losing lots of money in court to try to sway the pendulum his way-money that could have been spent on his skyscraper.

I’d have to disagree. I saw a bunch of the construction workers hanging outside the Statler a month ago and for the 1st time in my life I thought to myself…”Are these people SERIOUSLY working construction?!?!” Kids my age, younger than me, people who look like they have no clue what they are doing…I was even thinking of working for them after seeing such a sight. He came into town saying promoting the fact that the BSC Group has their own construction company-making it easier to get projects done when it fact it meant he has lots of really cheap, unskilled workers.

If unions are the real reason Bashar can’t do the City Tower then he is clearly a liar in regard to his personal wealth.

And as I’ve said in previous posts-the BSC Group moves as slow as molasses to do any of their proposed projects with only a few being completed in Manchester as of today.

So finish the Statler and accept the fact that in Buffalo, construction workers are unionized-and usually for a reason. If you can accept that, build the City Tower. If not-go back to Manchester and don’t come back.

Hooray for adding some more infamous people/projects to the post-modern history of downtown Buffalo.

Welcome back indeed.

Channel 2 interviewed Bashar Issa and got a sneak peak at the Statler.

I think for any typical person in Buffalo who doesn’t follow development closely or read blogs-this video makes it official that the Stater REALLY is being renovated and REALLY will be brought back to glory.

He was asked about City Tower..

If completed, it would be Buffalo’s tallest building: forty stories of retail and office space.

“On a scale from one to ten with ten being, for sure this is going to happen, we’re going to pour the foundation, to one being no way, where are you on this project,” Boose asked.

“A six,” Issa replied.

Issa says talks are in the works for an anchor tenant. The price tag for the skyscraper; $400 million! Add that to the $100 million to redo the Statler.

He didn’t say 9 or 10 which makes me think he really is being honest about this project. If we wasn’t serious he wouldn’t have purchased the lot and bothered with a 3-D video of the building and a masterplan for the area around it.

Although we are well behind Pittsburgh and Cleveland when it comes to having healthy and vibrant downtowns (yes I said well behind Pittsburgh and Cleveland) we’re getting there. With the City Tower-the potential of our downtown will be well known.

Sadly, Buffalo Biz Journals has been crashing everytime I try to open it over the last couple weeks but through WCP at BRO I was able to see an update on the Statler renovations. From reading it, I’m seeing a trend with the BSC Group’s reputation for failing to deliver up to the potential of the project.

What was once supposed to be a lot of completely renovated hotels into cool contemporary ones has become a simple renovation, keeping much in tact. From what I know, those hotel rooms were cool for the time period they served but they’re a bit outdated and small. Although Issa is stressing the “Art Deco” theme I really think he’s just seeing “Cheaper”.

And what the hell is this “Fourth Finger” idea? Extra office and retail space where the parking garage would have been? Does this mean he’s not to sure about getting the City Tower rented out?

But the addition of more office space than previously mentioned suggests Issa sees the immediate demand for downtown class A office space, which is good. Does it mean the downtown residential market has dissapointed him though?

Shouldn’t complain too much. The Statler was approaching a slow death and Issa-no matter how scaled down or different the project becomes-is adding life to this landmark and making Niagara Square a more prominent location like it should be.

I’m not going to even worry about City Tower right now…just going to focus on the Statler project and once that is completed, we can start contemplating whether or not Buffalo’s newest, tallest skyscraper is going to be a reality or not…although that “Fourth Finger” thing is making me think twice about the tower’s reality.

Listening to Bashar Issa makes my heart melt inside. I keep telling myself not to believe what he says because honestly, its like a dream came true-an outside developer comes here to
1. renovate an iconic downtown building
2. build the city’s tallest skyscraper
3. put more than enough thought into urban design and a careful respect for its surroundings

Now that the elevators in the Statler are being fixed and he is having a suite built inside for his own use whenever he’s in town leads me to believe the Statler project is for real but I refuse to let myself embrace the thought of having a real, new, and very tall skyscraper.

He talks the talk and in Manchester he kind of delivers…but delivers verrrrry slowwwwwly. But that can work easily here. Everything in Buffalo is slow, thats not a compliment at all but at least when we wait for the City Tower we can just remind ourselves of the wait for Bass Pro and it won’t seem so bad.

Slowly (very slowly)but surely, Issa’s “City Tower” is getting closer to becoming a reality. The planning board is looking at it and of course, someone on the board actually objected to it…saying it was too big. Nice.
If Issa can pull off 40 then goshdarnit, let him pull off 40. I’m a bit impatient though and would like to see beams in the ground by 2010. So I wouldn’t mind seeing it go down to 35 or 36…but this building is more important than just its function. It’s a statement about our city…by being the tallest it says that it’s the dawn of a new era for the city and that the past will not continue to tie us down. Buffalo is notorious for settling for less though, still…anything over 30 stories in Buffalo is huge.

Correction: Anything over 5 stories is huge in Buffalo.

There it is! Looks like a transparent HSBC Tower from that angle to be honest with you.
But anyways, its 40 stories, becoming the tallest in Buffalo, with a mix of office, hotel, and condos. Issa apparently will start construction when 40% of the office space is filled.
There are two things that could happen as a result of this building
1. The building draws new tennants from outside of downtown…reaching NYC and Toronto companies…therefore adding new jobs to the area.
2. It completley kills the market for office space in Buffalo, leaving those pesky surface lots to remain for a generation to come

I like the building up close, its materials and initial floors remind me of the new World Bank building in Washington DC.

But in a way it looks like a cross between the Bank of America building that is being built in NYC, and the Erastus Corning Tower in Albany

Reflects the courhouse perfectly though.

This building represents the future of Buffalo…if it gets built, and succeeds, then the psyche of Buffalo can really start to change for the better

If it doesn’t get built then it’s a statement that nothing has changed in Buffalo and we’re doomed to our fate like we always have been.

Issa…don’t fuck up. This is huge. Like…4 super bowl losses-no goal-adelphia communications tower-crawdaddy tower-new peace bridge-UB downtown campus huge.

*Photos from BuffaloRising…always go to them for new development news before me.