Hamburg, NY The Hamburg Industrial Development Agency (IDA) Board of Directors, through their land development corporation, approved the sale of approximately 64.5 acres of land to Walden Development Group. The sale price is $1.15 million and the contract includes some unique covenants requiring Walden Development to make some key infrastructure improvements to further pre-development of the Lake Erie Commerce Center. This includes extending Lake Erie Boulevard to sub-divide the parcel.
“This transaction will drive investment and creation of jobs in the Town of Hamburg,” said chairman Andrew Palmer. “We have a prime development site that has sat vacant for far too long. This strategic action is the culmination of nearly a year of planning and hard work by the full Hamburg IDA Board.”
Design on the infrastructure is underway and construction is expected to commence in late 2020.
Sean Doyle, executive director of the Hamburg IDA explained that the agreement further aligns The Agency with some key partners in construction, commercial real estate and site selection. “We are transaction oriented. Our close work with Walden Development, Pyramid Brokerage and Invest Buffalo Niagara is literally paving the way to jobs and growing Hamburg’s tax base,” said Doyle. “I anticipate full development of this industrial park within the next three years. This site is very sought after. Investors need more support in the development process, especially with the impact of COVID-19; we are providing that support through these partners.”