2/17/2011

Trek to Canal St.

Posted by MJ

The Buffalo News and the LUSJ have both reported on the GLDC deal with Trek Inc of Medina to occupy the top two floors of 57 Canal St.

A Medina company will be moving some of its employees to Lockport, as it leases the second and third floors of the largest building on Canal Street.

Mayor Michael W. Tucker said Wednesday that Trek Inc. will pay $90,000 a year, or $7.50 per square foot, for the top two stories of 57 Canal St.
Also, the city will be selling the smallest building on the block, 79-81 Canal St., to Lockport Cave for $70,000 as a new headquarters for the seasonal tourist attraction.

Trek, founded in Medina in 1968, is expanding its production facilities and needed someplace to move its engineering, and research and development departments, said Cindy Coons, company human resources manager....
The price is cheap but it will cover the build out and after 4 years it will still be completed viable space if Trek decides to not renew the lease. Could be a kick start if bigger plans are put into place.  It is nice to see that they wisely kept the 1st floor free for a business to generate foot traffic (even thought the facade isn't designed for it). The street will need some infill and the street opened to traffic if any sustained foot traffic and street life are desired.

A second article by the LUSJ on the deal and another about a local connection to the Verison project underscore the positives that can be gained from the "negatives" of the area's children moving away for better opportunities. Instill in them a love for their hometown, etc and someday they could return with opportunities.

3 comments:

Rocketboy said...

At this point, I almost don't care what the cost is to get someone into these buildings. The quicker they fill in, the better off long term we will be.

Anonymous said...

im kinda weiry no one has responded here.
Seeing that TREK got in .Seeing that the GLDC is going to build in for them at a cost of $400.000. But TREK lease agreement is only for $90.000 for a 4 year agreement.Do the math thats another $40.000 loss for our governing GLDC.Why is everything in this city done at a loss for our tax payers?
I dont understand this, we always lose when they are involved.
It always sounds like the mafia is involved in Lockports dealings.At the end they get more than what they paid for.And if it falls through we will take pennys on the all mighty dollar

Anonymous said...

Lockport can't even decide what to do with the Canal St. triangle. The handling of that by the City of Lockport has been nothing short of disastrous-one mistake after another, tax breaks up the wazoo for a maker of electrical equipment's research division, so no real benefit to Lockport whatsoever! Oh, and what about the empty Old City Hall and the crumbling and extremely dangerous parking ramp on the corner of Main St. and Pine? The streets have also been looking pretty shabby again, lately, in the downtown area! I could go on, but why bother, since Lockport is losing population pretty steadily and is basically dying!!!

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