Buffalo, NY, October 12, 2025
Entrepreneur Tom Golisano has purchased the historic Buffalo News buildings in downtown Buffalo, aiming to revitalize the site into mixed-use spaces. The renovation plans focus on enhancing the area near KeyBank Center. Local advocates celebrate the acquisition as a win for architectural preservation, promising community benefits alongside a modern retail and office environment. Construction is set to begin in early 2026 as part of Buffalo’s broader push for downtown revitalization.
Buffalo News: Paychex Founder Tom Golisano Acquires Former Buffalo News Buildings
Buffalo, NY – Renowned entrepreneur and philanthropist Tom Golisano has purchased the former Buffalo News buildings in downtown Buffalo from developer Douglas Jemal for an undisclosed amount. The acquisition, announced recently, marks a significant step toward preserving and revitalizing a key piece of the city’s architectural landscape. The iconic structures, which have stood vacant since 2020, are set to undergo extensive renovations to transform into mixed-use spaces featuring offices and retail areas.
The deal comes at a time when downtown Buffalo is experiencing renewed interest in adaptive reuse projects. Golisano, the founder of Paychex and a longtime supporter of Buffalo-area initiatives, plans to focus the redevelopment on enhancing the neighborhood surrounding the KeyBank Center. This area, known for its sports and entertainment venues, stands to benefit from the infusion of commercial and professional spaces, potentially drawing more foot traffic and economic activity.
Local preservation advocates have welcomed the news, viewing it as a victory for maintaining the buildings’ historical and architectural significance. Built in the early 20th century, the structures represent a blend of classical and modern design elements that reflect Buffalo’s industrial heritage. Their vacancy over the past five years raised concerns about potential deterioration or demolition, but Golisano’s involvement signals a commitment to restoration rather than replacement.
Project Details and Timeline
Renovation efforts are scheduled to commence in early 2026, with the goal of creating vibrant, multifunctional spaces that align with contemporary urban needs. The mixed-use development will include office areas suitable for startups, professional firms, and remote work setups, alongside ground-level retail to support local businesses. This approach aims to foster a seamless integration of work, shopping, and community interaction in the heart of downtown.
The buildings’ location near the KeyBank Center, home to the Buffalo Sabres hockey team and various events, positions them ideally for high visibility and accessibility. Improvements may incorporate modern amenities such as energy-efficient systems, open-plan interiors, and public gathering areas to attract a diverse range of tenants and visitors. While specific design plans remain under development, the project emphasizes sustainability and historical respect, ensuring the facades and key features are preserved.
Broader Impact on Buffalo’s Downtown
This acquisition underscores a growing trend in Buffalo toward repurposing historic properties amid economic recovery efforts. The city’s downtown has seen several similar initiatives in recent years, contributing to a resurgence in population and investment. Golisano’s history of philanthropy in the region, including support for education, healthcare, and cultural institutions, suggests the project will prioritize community benefits alongside commercial viability.
By preventing the buildings from further neglect, the redevelopment helps safeguard Buffalo’s unique architectural identity. Historians note that structures like these serve as tangible links to the city’s past as a major industrial hub. The move also aligns with broader goals of urban renewal, where private investment plays a crucial role in complementing public efforts to revitalize aging infrastructure.
Background on the Properties and Previous Ownership
The former Buffalo News buildings have been a downtown fixture for decades, originally serving as the headquarters for the local newspaper. When operations relocated in 2020, the properties entered a period of uncertainty, with Jemal acquiring them for potential redevelopment. Despite initial plans, the buildings remained unoccupied, prompting discussions about their future among city officials and preservation groups.
Golisano’s purchase resolves this limbo, injecting fresh momentum into the site. As a Buffalo native who built Paychex into a national payroll services giant, he has deep roots in the area and a track record of impactful investments. This latest endeavor continues his pattern of contributing to the region’s growth, from sports franchises to charitable foundations.
While details on the financial terms remain private, the project’s emphasis on mixed-use functionality positions it to address multiple needs in Buffalo’s evolving economy. As construction nears, updates on tenant recruitment and design progress are anticipated, keeping the community engaged in the transformation process.
Expected Economic Ripple Effects
The redevelopment is poised to generate jobs during the construction phase and long-term employment through new offices and retail outlets. It may also boost nearby businesses by increasing pedestrian activity around the KeyBank Center. In a city working to balance preservation with progress, this project exemplifies how targeted investments can enhance both heritage and modernity.
Buffalo residents and stakeholders will watch closely as plans unfold, hopeful that the revived buildings will become a cornerstone of downtown vitality. The initiative reflects ongoing efforts to make the city more attractive for residents, workers, and visitors alike.
Frequently Asked Questions (FAQ)
Who purchased the former Buffalo News buildings?
Paychex founder Tom Golisano has purchased the former Buffalo News buildings in downtown Buffalo from developer Douglas Jemal for an undisclosed sum.
What is planned for the buildings after the purchase?
The iconic structures, vacant since 2020, will undergo renovations to create mixed-use space including offices and retail.
What is the goal of the redevelopment?
Golisano, a longtime Buffalo philanthropist, aims to revitalize the area near KeyBank Center.
How has the local community responded to the purchase?
Local historians applaud the move to preserve the buildings’ architectural heritage.
When will construction begin?
Construction is slated to begin in early 2026.
Key Features of the Redevelopment Project
| Feature | Description |
|---|---|
| Purchaser | Paychex founder Tom Golisano |
| Seller | Developer Douglas Jemal |
| Purchase Price | Undisclosed sum |
| Current Status | Vacant since 2020 |
