DL&W Transportation Terminal QEI: $30MM+
Click Here for the PDF Version: DL&W Cut Sheet
Twinned with Historic Tax Credits Real Estate Leasing Business, Savarino DL&W Development LLC and The Niagara Frontier Transportation Authority (NFTA) are creating what will be a critical component of Buffalo’s transforming waterfront by redeveloping the historic DL&W Train Terminal into a vibrant and inclusive public space and marketplace. This project spurs economic opportuning through new entertainment, interpretive, retail and restaurant concepts, including affordable kiosk spaces for diverse local vendors to incubate their businesses.
Summary:
The former DL&W Terminal is an iconic structure that was considered an innovative design and engineering feat when it opened in 1917. After decades of underuse, the Terminal is being revitalized through a partnership between Savarino DL&W Development LLC and NFTA. NFTA is developing a new light rail station at ground level and Savarino Companies is redeveloping the remainder of the two-story historic trainshed into a diverse , local marketplace (the portion of the project seeking NMTC financing). Savarino Companies is a commercial real estate developer, investor, and property owner and manager with a depth of local experience with Historic Tax Credits and New Markets Tax Credits.
The dynamic, transit-oriented redevelopment will utilize community assets and inspiration to create an inclusive multi-use public space where food, retail, art, music and shared history bring the community together.
Footprint:
The Upper Level of the Train Terminal:
80,000 sq ft. interior space
40,000 sq ft. exterior deck space
Commercial Goods & Services:
Transit-Oriented Development
Fresh food market/grocer
+/- 12 local vendor kiosks for small businesses
+/- 10 permanent retailers, restaurants/bars
Shared kitchen/storage space for vendors
Information Center
Gallery and workshop space for artists
Flexible event spaces and green spaces
Bicycle rental/repair business
Project Readiness:
As part of the 2022 New York State budget, the project received $30 million in grant funding, demonstrating strong public support and commitment to seeing the project reach completion. The DL&W Terminal received Part 1 approval from NYS State Historic Preservation Office and the National Parks Service, so it is designated as a historic structure, enabling access to Historic Tax Credits.
The hardscape construction - including QRE eligible work - has already commenced. Core and shell improvements are commencing early spring 2025. The interior tenant fitouts are anticipated to start in the spring of 2026. Completion and full activation of the terminal and programming is expected in the spring of 2027.
Savarino DL&W Development is partnering with numerous groups to articulate the vision for the project, provide design and engineering to support that vision and ensure that the DL&W Terminal project is engineered for long term financial success:
Azar Design Co. - Design and engineering of Terminal “core and shell” improvements
Eimer Design - Design and engineering of interior spaces and features.
SB Clark - Advisor/consultant NMTC and HTC
Colicchio Consulting - Food, beverage and entertainment feasibility, consulting and planning
Local Projects - Consultant for experiential, historic and interpretive features
26 Productions/Buffalo Iron Works - Event and entertainment consulting
Plante Moran - NMTC and HTC advisory and accounting
KTA Preservation Consultants - Historic preservation consultant
Cannon, Heyman and Weiss - Counsel
Project Narrative:
The vision for the Terminal was informed by extensive public outreach led by Savarino consultant Projects for Public Spaces - which found stakeholders and the public desired a truly accessible public space that fosters community and serves a diverse audience. In addition it was desired that the space offer economic opportunities to small businesses and help fill the gaps in goods and services Downtown. In particular, the Terminal plans to deliver a fresh food market to increase access to groceries that are solely lacking in Downtown Buffalo. There will be several restaurant/bar concepts permanently located within the Terminal, along with a variety of vendor kiosks including food producers and artisan crafts. The kiosks are intended to incubate local small businesses and will offer flexible lease terms and below-market rent.
The DL&W Terminal occupies a strategic location on Buffalo’s waterfront at the confluence of the Buffalo River, the Erie Canal, the Niagara River and Lake Erie, positioned between two emerging downtown districts, Canalside and the Historic Cobblestone District, and located directly across the street from the Key Bank Center for sports and entertainment. As a multi-modal transportation hub, the Terminal will enhance alternative ways to access Downtown including transit, walking and biking. The Terminal links to existing multi-use trails and will include amenities like a bike repair and rental station - a priority voiced by the commmunity. This enhanced accessibility will encourage diverse patronage and bring people Downtown from throughout the City. The Terminal will also be a lively hub for entertainment, offering scalable indoor and outdoor community event spaces that will benefit the local retailers.
The DL&W Terminal was named after the former railroad operator Delaware, Lackawanna and Western Railroad. In 1962, the DL&W Railroad merged with the Erie Railroad, and the majestic terminal was abandoned soon after. The current Terminal owner, NFTA, acquired the complex for maintenance and storage of rail vehicles in 1977, and in 1979 he entrance concourse was demolished during construction of Buffalo’s Metro Rail light rail rapid transit system, leaving the second story portion of the station undeveloped including rail beds and passenger platforms. NFTA is now investing over $50 million to building a new light rail station on the ground level, and extend the Metro Rail, from it’s current norther terminus at the University at Buffalo’s South Campus to the university’s North Campus in Amherst and adding 11 new passenger stations. All work completed thus far has utilized prevailing wages and with MBE and WBE Utilization requirements, as will most of the upcoming work on both levels of the station.
Following a public Request for Proposals process in 2018-2019, NFTA selected Savarino Companies as its development partner for redeveloping the upper level of the historic train shed structure. Savarino Companies has completed numerous mixed-use remediation and redevelopment projects in the region, utilizing federal and New York Historic Tax Credits, New York State Brownfield Tax Credits, and New Markets Tax Credits.
