The Gateway Office Building and the 25 acres of prime Lake Erie waterfront land that comes with it has been acquired by a New Jersey-based investment group and the deal could kickstart a proposed $30 million development on the property.
3556 Lakeshore Boulevard Development LLC paid $4 million for the Gateway complex - built in 1960 as the local Bethlehem Steel Corp. headquarters. The property had been owned by R&P Oak Hill LLC and had been brokered by CBRE Upstate New York’s Lida Eberz.
Plans already under review by the Town of Hamburg call for the anchor, seven-story, 164,025-square-foot building to have a mixed-use future with its three office tenants - Nussbaumer & Clarke, RP Oak Hill Building Corp. and Gibraltar Industries Inc. remaining while a mix of at least 35 hotel rooms and apartments along with a sports bar and event center being developed.
In a later phase, some 16 five-story buildings - all with multi-level townhomes - are planned.
