AMHERST, N.Y. (WKBW) — Douglas Development has purchased the Boulevard Mall in Amherst.
The struggling mall went up for auction in the spring.
Originally, Douglas Development, Sinatra Real Estate and RMS purchased the property in tandem, according to Brian Kulpa, the Amherst Town Supervisor. Kulpa tells 7 Eyewitness News the two have now come to an agreement for Douglas Development to be the sole developer adding that Sinatra is off the project.
Douglas Jemal adds this to his redevelopment portfolio here in Western New York, which also includes Seneca One Tower and the old Buffalo Police headquarters on Franklin Street.
Kulpa says the project is headed in the same direction with no major differences planned.
According to the Buffalo News, Jemal purchased both the Wegmans property and the mall for $30 million.
"Talk about a change over in philosophy from the 50s, 60s and 70s era of Western New York to the current, right?" Kulpa said. He continued, "When the tower was going strong, so was the mall. Both those properties have seen their decline and no they're going through an opportunity for rebirth as we re-imagine them. Douglas Development seems like they are the type of group who could put some real imagination behind some of these projects so we're excited to see where they are going to go."
Sinatra & Company Real Estate released this statement:
Sinatra & Company Real Estate, along with its partners, ultimately decided not to move forward with the acquisition of Boulevard Mall. We therefore transferred our interests to Douglas Development. The terms of the transfer cannot be disclosed. Doug is a man we think highly of, and we wish him tremendous success on the project. Our community is blessed by his keen interest and active involvement here in Western New York.
Meantime, Kulpa adds the Town of Amherst is working to rezone the area they are completing a generic environmental impact statement (GEIS). That report is expected to be finished in December.
