October 13, 2025

Buffalo News Building Sold for $8 Million Mixed-Use Project

Buffalo, October 13, 2025

The historic Buffalo News building has been sold for $8 million to billionaire Tom Golisano, who plans to transform it into a mixed-use development. The renovation will preserve the building’s historical significance while creating office and retail spaces to revitalize downtown Buffalo’s commercial landscape. This deal reflects the growing investment interest in the city and aims to enhance the local economy by attracting diverse businesses and increasing foot traffic.

Buffalo News Building Sold to Billionaire Investor for $8 Million Mixed-Use Project

Buffalo – A prominent investor has purchased the iconic Buffalo News building for $8 million, with plans to transform the historic structure into a mixed-use development featuring office and retail spaces. The acquisition highlights growing interest in revitalizing downtown Buffalo’s commercial landscape.

Details of the Acquisition and Renovation Plans

The deal involves former Buffalo Sabres owner Tom Golisano, a billionaire known for his business ventures and philanthropy. The building, located in the heart of downtown Buffalo, will undergo renovations to preserve its historical significance while adapting it for modern commercial purposes. This mixed-use approach aims to blend office spaces for businesses with retail areas to attract shoppers and visitors.

The $8 million price tag reflects the property’s value as a landmark in the city’s media and business history. Renovation efforts will focus on maintaining architectural features that define the building’s character, ensuring it remains a key part of Buffalo’s skyline. The project is expected to create new economic opportunities by drawing in tenants from various sectors, including tech startups and local retailers.

Preservation and Community Impact

Preserving the Buffalo News building as a historic landmark is a central goal of the renovation. The structure, which has stood as a symbol of local journalism for decades, will not be demolished but instead repurposed to honor its legacy. This approach aligns with broader efforts to protect Buffalo’s architectural heritage amid urban development.

The mixed-use renovations are anticipated to boost the local economy by adding vibrant office and retail spaces. This could lead to job creation and increased foot traffic in the downtown area, benefiting nearby businesses. Golisano’s involvement signals strong confidence in Buffalo’s ongoing commercial resurgence, as the city continues to attract investment and foster growth.

Connection to Philanthropy and Revitalization

Golisano’s philanthropy ties directly into the community revitalization efforts tied to this project. His history of supporting Buffalo-based initiatives, from sports to education, underscores a commitment to the city’s future. By investing in the Buffalo News building, the project contributes to a larger wave of downtown improvements, including infrastructure upgrades and public space enhancements that have been revitalizing the area in recent years.

Background on Buffalo’s Commercial Resurgence

Buffalo’s downtown has seen a notable uptick in commercial activity over the past several years. Factors such as lower real estate costs compared to larger cities, combined with incentives for developers, have drawn investors like Golisano. The Buffalo News building acquisition fits into this trend, where historic properties are being repurposed to meet contemporary demands.

The city’s efforts to promote mixed-use developments stem from a desire to create walkable, multifunctional districts. Such projects not only preserve history but also address modern needs like flexible workspaces and diverse retail options. This $8 million deal exemplifies how private investment can align with public goals for sustainable urban growth.

Local stakeholders view the renovation as a positive step toward maintaining Buffalo’s identity while adapting to economic changes. The building’s transformation into office and retail spaces could serve as a model for other aging structures in the area, encouraging further investment without sacrificing cultural assets.

As Buffalo continues its path toward commercial revival, this acquisition underscores the potential for historic preservation to drive progress. The project’s success will depend on careful execution of the renovation plans, ensuring they balance historical integrity with practical functionality. Overall, the move reinforces Buffalo’s appeal as a hub for innovation and community-focused development.

FAQ

Who purchased the Buffalo News building?

Former Buffalo Sabres owner Tom Golisano acquired the Buffalo News building for $8 million.

What are the plans for the Buffalo News building after the purchase?

The building will undergo mixed-use renovations to include office and retail spaces while preserving its historic landmark status.

How much was the Buffalo News building sold for?

The Buffalo News building was sold for $8 million.

What is the significance of preserving the Buffalo News building?

The deal preserves a historic landmark, adding office and retail space while honoring its role in Buffalo’s media history.

How does this acquisition relate to Buffalo’s development?

Golisano’s philanthropy ties into community revitalization efforts, signaling confidence in Buffalo’s downtown commercial resurgence.

Key Features of the Buffalo News Building Acquisition

Feature	Description
Purchase Price	$8 million
Buyer	Former Buffalo Sabres owner Tom Golisano
Renovation Plans	Mixed-use development with office and retail spaces
Preservation Aspect	Maintains historic landmark status
Community Impact	Ties into philanthropy and downtown commercial resurgence