Krog Group Takes Ownership of Trico HQ

Krog moves forward with $80 million mixed use facility

Tom Puckett
May 31, 2017 - 2:49 pm

WBEN Photo - Tim Wenger

Buffalo, NY (WBEN) The Trico Headquarters building has a new owner. The new owner is moving forward with plans for an $80 million mixed use facility.

Krog Group has been the designated developer of the project, and now has closed on the property and will convert the 600,000 square foot buildng into a hotel, apartments and other commercial uses.

"After ten years of hard work on one of the most difficult development projects in the city, I'm pleased to announce the finalization of the real estate transaction so the plans can move forward," says Mayor Brown. "Krog will breathe new life into this vacant building that was threatened with demolition, and will now provide future investment and job growth in Buffalo."

Peter Krog of the Krog Group says he's thrilled to be part of the downtown resurgence. "Trico is an important part of Buffalo's history, but the building had fallen into a state of disrepair. While we still face many construction challenges, we're confident our adaptive re-use plan will return the Trico Building to prominence and serve as a useful and complementary addition to the medical campus."

The project includes Krog partnering with Hart Hotels for construction and operation of the hotel, which is intended to serve the extended stay market, residential apartmetn for medical school and nearby hospitals, commercial and retail space supporting demands of the surrounding health science businesses.

 

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