Contract to buy properties on site of Buffalo, N.Y. hotel proposal extended
Monday, October 2, 2006
Buffalo, New York — Sam Savarino, CEO of Savarino Companies, the development company to be in charge of building the Elmwood Village Hotel at Forest and Elmwood Avenues in Buffalo, New York has told Wikinews in an exclusive interview that the contract to buy the properties from 1109-1121 on Elmwood Avenue in Buffalo has been "extended," but would not elaborate on how long the extension would last.
"We have extended our agreement to purchase the property and will have it under contract for what we hope is a sufficient period of time," said Savarino.
The hotel would require the demolition of the five properties on Forest and would cause several businesses to relocate or close their doors. The hotel will be 72 rooms and will cost at least 7 to 10 million dollars to build. Wyndham Hotels is expected to be the owner/operator of the hotel. The properites are still owned by Hans Mobius. Two other properties, 605 and 607 Forest might also be part of the proposal, but lawsuits have so far stopped any development from taking place.
Savarino also stated in a recent interview with Wikinews that his company may be "about ready for round two" in the process of resubmitting the hotel proposal to the City of Buffalo's Common Council and Planning Board.
"If we were to go through the re-zoning process again it could be arduous," said Savarino.
In July, Savarino "withdrew" the proposal which is undergoing a "do-over," according to Vice President of Savarino Companies, Eva Hassett.
In related news, several residents around the area of the proposed hotel were speculating that current roadwork to repair and add sewer lines on Forest Avenue were part of the construction process for the proposed hotel. Savarino has denied those claims.
"We are certainly not doing any work on the site nor is any work being performed on our behalf or at our direction [in relation to the hotel]," said Savarino.
So far, the proposal has not been resubmitted to the City's Common Council or Planning board and there is no word on when the proposal will be resubmitted.
Wyndham Hotels, which is owned by Cendant Corporation, has not commented on the proposal despite several attempts to contact them.