NFTA Transporter

Friday, September 27, 2013

Terminals A and B sold

The NFTA Board of Commissioners have approved the sale of waterfront land and property around and including terminals A and B to Gracious Living Corporation, a manufacturer and distributor of outdoor furniture and housewares out of Toronto.

“The sale of this property is a very sound strategic decision that follows Governor Cuomo’s visionary plan for Buffalo’s waterfront,” said NFTA Chairman Howard A. Zemsky. “It provides the NFTA with a global solution for exiting its waterfront property; at the same time helping to create job growth in the region and generate much needed revenue for the NFTA.”

NFTA Commissioner and Chairman of the Property Risk Management Committee Peter G. Demakos said, “I am very pleased that our determination has paid off and we are now in a position to help rejuvenate these two waterfront structures via a private sector capital investment that will stimulate meaningful employment in the region.”

This is Gracious Living’s first U.S. plant and represents an investment of tens of millions of dollars, along with 250 new jobs.

The parcel of property is 49.5 acres, at 901 Fuhrmann Boulevard officially in the City of Buffalo. The Niagara Frontier Port Authority purchased the property from the Ford Motor Company in 1962. The NFTA took it over in 1967. The buildings have been used by Tops Markets, Euro United, Sonwil Distribution, Nano Dynamics and Empire Liquidators, but have been without tenants for the last three years.