In 2013 HSBC’s lease will run out at the HSBC Tower in downtown Buffalo. The corporation is looking at numerous options in and around the city in addition to remaining in the tower.
The tower is the tallest building in the city and dominates the skyline. It isn’t pretty but, its tall and is a valuable commodity to the city. One prospect that seems to be high on the bank’s list is a new build near the existing Atrium building across the street from HSBC Arena.
This choice is apparently contingent upon the city deeding a piece of property on the Webster block to the Erie Canal Development Corporation. They, in turn, would sell/lease/whatever the land to HSBC for the new build. I’m not positive, but I’m pretty sure the parking lot across from the Arena is involved in all of this too.
Now, the Common Council has pushed the decision on this parcel of land back. This has drawn the ire of numerous people. The Buffalo News has the full story.
There is a chance that the bank could up and leave the city. Bolting with the major office space they lease plus 4,000 jobs. That’s correct, 4,000 jobs. That is a lot of people in the city every day.
Just think if the Canal Side project is ever completed, all those people could patronize the place.
I don’t see why there are people against this decision. If this is needed to keep those jobs and this massive corporation downtown, then give them the damn land. I understand holding up Bass Pro. It wasn’t ever going to be the silver bullet. But, this is as close to a guarantee than you will find. A brand new build that will likely be as tall as the Atrium, if not taller, will be a major addition to the skyline and the waterfront.
I don’t understand why this only makes sense to me.
This is going to go away because these jerks are going to continue to stall. Then, HSBC is going to go away. Then they are going to have to fit their feet in their mouths when they realize they cost the city 4,000 jobs an untold economic benefits.
Each and every day this city, whether it be sports, development, etc. finds a way to completely disappoint you. This act is growing far too old far too quickly. It is a true shame.