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Millard Fillmore Hospital Project – Costs balloon by 130 percent

 

NEWS FROM FASCINATING PROJECTS

One of the largest private-sector investments in Buffalo

Reported by Alexander Ehms in Buffalo

29 November 2015 – Buffalo, NY, USA – The demolition of the main portion of the former Millard Fillmore Gates Circle Hospital is only the beginning. Costs have been projected to exceed the $150 million dollar figure. The development project has set its eyes on replacing the imploded hospital with 530 residential units, retail stores, a YMCA branch, commercial office space, and talks of a supermarket grocery store.

In comparison to other local private-sector projects, renovation costs of the Richardson Towers are approx. $60 million. Seneca Gaming Corp. has invested $130 million to construct the Seneca Buffalo Casino. While Uniland Development Co. is currently spending approximately $110 million to build the new 250 Delaware Building.

151129-pmwj41-Ehms-millard-fillmore-IMAGEA project which had originally started with a $63 million dollar price tag, is now expected to cost more than $150 million. Site preparation costs alone account for $16 million in expenses.

$150 million might seem like a big chunk of change, but when you compare this to the Solar City plant being constructed in South Buffalo. The expected $900 million dollar private/public hybrid project makes Millard Fillmore look like a penny in a wishing well.

For more information, click on the following:

http://www.bizjournals.com/buffalo/news/2015/05/19/gates-circle-redevelopment-costs-now-north-of-150.html

http://www.bizjournals.com/buffalo/blog/morning_roundup/2015/11/buffalo-planning-board-to-review-canterbury-woods.html

http://www.bizjournals.com/buffalo/news/2015/07/20/demolition-of-millard-fillmore-gates-circle.html