BUFFALO, N.Y. - A monumental development in the City of Buffalo took another step today. Mayor Byron Brown (D-Buffalo) announced that the city has now sold the rest of the South Buffalo Riverbend site to the state.
That means this long-abandoned land is now ready to become a major high tech energy hub. Two companies are going to build on this land as a part of the Billion to Buffalo economic plan.
One of those companies, owned by well-known businessman Elon Musk, plans to create one of the largest solar power plants in the entire world on this very plot of land. And considering this is exactly where the old Republic Steel mill used to sit, it's a big day in Buffalo.
"Now, it is going to be a site of thriving industry. a site for employment opportunity for the residents of Buffalo, and again, a place where they can live and get great value out of the homes that they have purchased," said Mayor Brown.
The Mayor estimates that home values in surrounding neighborhoods could jump anywhere from 5 to 30 percent. It's estimated that more than 1,000 jobs could be coming to the region because of this development.