Board hears plans for hotel, retail plaza in citys brownfields

OLEAN The long-awaited return of economic activity to dormant industrial land in north Olean inched forward Monday.

The Olean Planning Board took little action that evening on plans for an approximate $17 million redevelopment project submitted by Krog Corp. through its limited liability company, Olean Gateway, for 1404-1406 Buffalo St.

During the boards two-hour meeting, Krog Corp. representatives made a brief presentation the project. Their presentation was followed by board members going through the project application line-by-line for about an hour-and-a-half. At the end of their review, the board began a process to serve as the lead agency completing an environmental review of the project. A SEQR (state environmental quality review) is required for all major construction projects in New York.

Krog Corp., an Orchard Park-based development firm, plans a five-phase project for the almost 60-acre lot. Major elements of the project include the construction of a four-story hotel and neighboring retail complex comprising five buildings. HK Olean Hotel LLC is overseeing the hotels construction and development, while Olean Gateway LLC is overseeing retail complex component of the project. Both limited liability companies fall under Krog Corp.s umbrella.

Krog Corp. representatives focused their presentation on the projects first phase building the hotel and some of the retail spaces, as well as a restaurant. In addition they discussed their planned construction of a new city street leading into the property at the intersection of Buffalo Street and Constitution Avenue, and the installation of new water and sewer utility lines. Other aspects of the project include putting in new sidewalks and a driveway for the neighboring Verizon building.

We dont have any specific tenants yet for the spaces and its premature to discuss any (hotel chains) looking at the hotel, Chris Wood, an engineer from Carmina-Wood-Morris, the Buffalo-based architectural firm designing the project.

Arnie Cubins, a senior project manager from Krog Corp., told the Times Herald after the meeting that his company is currently taking with several retailers interested in leasing space.

Construction is targeted for a May start and would take most of the next year, should the project garner all the approvals it needs from local and state authorities. The remaining four phases would be completed by 2020.

During actual construction, Krog Corp. would put the new city road in and eventually, deed it back to the city, Mr. Wood said.

The hotel and retail complex is the first major project at the site, which has sat unused for decades. The Buffalo Street property is part of the citys brownfields, a 500-acre former industrial area abutting Interstate 86 in North Olean where contamination has impeded redevelopment.

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Board hears plans for hotel, retail plaza in citys brownfields