Friday, November 9, 2012

Different Developer Buys Woolworth Building

   A downstate developer brought in to facilitate the flagging efforts to rebuild the historic Woolworth Building in Watertown is now buying the structure himself and is moving ahead trying to line up more financing to augment a state grant reserved to rebuild this bit of the city's past.
   David Gallo says his firm is buying the building from Michael Treanor who has done other buildings locally but had not made progress of late on this one.
   One bit of good news is Mr. Gallo doesn't want the City bus stop moved as he feels is would be a convenience for his tenants right where it is.
    Mr. Gallo is expected to provide City Council with an update on his plans at a meeting later this month. I met with him Thursday as he was giving some people a tour of the building which is starting to show signs of degredation.


Anonymous said...

Where is the story link?
Did you bypass the MSN gate with a news story again!

Sounds like Gallo doesn't plan on having Tenants that own cars. In bigger cities, buildings that big, with tenants that don't own cars, are called "projects".

I wonder what "line up more financing" is code for? Free money? If not, I would have called it "get a loan".

Anonymous said...

I can see it NOW they'll end up with it, and wham,bam,chazam, 20 million into another building, with more Welfare tenents.....

Anonymous said...

Great, affordable housing. A good reason to avoid the square. So much for the upscale hotel.

Anonymous said...

Yep more people on the scam, like the former SS building, NOW rented to CREDO, and NCTLC people.