The Buffalo News broke a story this afternoon saying that HSBC will be given 90 more days to make a decision regarding their occupancy of Buffalo’s tallest office building.
Right now there are three options; remain in the HSBC Tower, purchase the ‘Webster Block’ in anticipation of a new build and (the scariest option) move the employees out of the city. If you ask me this is a no brainer, build a shiny new office building across from the arena and HSBC Atrium building. For those thinking a lawsuit would be necessary because a new building wouldn’t fit in with the historic Canalside development, climb out from under your rocks and tell me if the World Trade Center on Baltimore’s waterfront is causing any problems.
A new build would saturate the downtown office market with class A office space in the existing tower. Correct me if I’m wrong but didn’t the owner of the tower claim a move would lower the cost class A space and allow for numerous companies to improve their current set up? To me that sounds like a perfect storm. Two massive office buildings in the city center filled with employees. Hmmm…how can obstructionists find fault with that, I wonder?
To me a new building smack near the water does a few things. I already listed the benefits to the downtown office community, but tell me the Buffalo skyline couldn’t use a little boost from another tower. Not to mention adding some density to a neighborhood that is little more than windswept parking lots. Lastly, this sort of build would boost the potential of the Canalside neighborhood. The 2000 (estimate) employees that will be going lunch or dinner year-round during the week, weekend happy hours and a 30 second stroll to the arena for events certainly screams for some sort of bar/restaurant presence. Where better to build than Canalside. Yet another solution to the $64 million question.
C’mon HSBC make the decision we all know you want to make.