Krog Corp. has temporarily suspended work on its $87 million redevelopment of the former Trico Products Corp. manufacturing plant in downtown Buffalo, citing the impacts of the Covid-19 pandemic on the sectors it’s targeting.
The Orchard Park-based developer, which specializes in industrial and brownfield projects, is seeking to convert the 10-story structure into a mixed-use development, with office, residential and hospitality elements.
CEO Peter Krog said the company expects to resume construction at some point, but is “assessing the impact that Covid-19 has had on the commercial real estate market and the hospitality industry due to the travel restrictions and the increase in the number of employees working remotely.”
He did not elaborate. “It’s just on hold for a while and the site is secure,” he said.
