Two old ladies were the headliners for downtown development last year. Mark Croce’s purchase and investment in the Statler and Rocco Termini’s ongoing work at the Hotel Lafayette are significant in themselves. To have both properties rescued from an uncertain future, at the same time, is great news for the city.
Croce purchased the Statler in March. The Niagara Square landmark was tied up in bankruptcy court and would have been mothballed or even demolished if a buyer was not found. Croce’s vision for the property ia to reopen the building’s lower floors for retail, restaurant and banquet use and put residential, hotel and office space into the building’s upper floors as the market allows. [Read more…] about Downtown Development Recap- 2011 Edition