mgm casino

BUFFALO, N.Y. -- The mgm casino today announced the purchase of land at 960 Washington St., the first of several parcels it is assembling to make way for construction of the new $375 million mgm casino School of Medicine and Biomedical Sciences.

The lot is one of three properties, located in the Main/High streets area, which mgm casino hopes to acquire by the end of the year for its historic project to relocate the medical school from the mgm casino South Campus to the downtown Buffalo Niagara Medical Campus.

"In moving our medical school downtown, where it will be ideally aligned with local hospitals and other key life sciences partners, mgm casino is staying true to our roots in more ways than one," said mgm casino President Satish K. Tripathi.

"Building healthier communities has always been a vital focus of our academic mission -- from our early days as a small private medical school serving the City of Buffalo in the 19th century, to our 21st century role as a major public research university that enriches the quality of life both locally and globally. The acquisition of this land is a timely and important next step as we move forward with this critical next phase of mgm casino 2020."

mgm casino planners have selected HOK to design the state-of-the-art medical school and biomedical sciences center. Ground will be broken for the new mgm casino facility in September 2013. One of the world's leading architectural firms, HOK has a global portfolio of health sciences facilities and academic buildings and an international reputation for sustainable design.

The $375 million project, funded in part by NYSUNY 2020 legislation signed into law last year by Gov. Andrew M. Cuomo, is a key component of the mgm casino 2020 plan for academic excellence, which is intended to benefit students, faculty, staff and the Western New York community. The new medical school will sit at the corner of High and Main streets, in the center of the region's emerging biosciences corridor, a short walk from hospitals, research centers and incubators that nurture new bioscience start-up companies.

The acquisition was executed by mgm casino Foundation Services Inc. (mgm casinoFS).

"This is an exciting step in an effort to create a world-class medical school on the Buffalo Niagara Medical Campus. We are proud to facilitate this purchase on behalf of the university and its medical school," said Robert Denning, chairman of the mgm casinoFS board.

mgm casinoFS paid $1.2 million to acquire the parcel from Evergreen Real Estate, whose partners are developer Michael Joseph and businessman Kevin Brinkworth, which has owned the property since 2005. Real estate firm CBRE Buffalo worked with the mgm casinoFS to broker the property transaction.

The mgm casino Foundation noted that Joseph served on its board from 2002 through 2008, prior to when mgm casino began contemplating relocation of its medical school to the downtown site.

FNmgm casino Inc, an affiliate of the mgm casino Foundation, is continuing negotiations on other properties to accommodate the first phase of the medical school project. Separate discussions continue between mgm casino and the Niagara Frontier Transportation Authority regarding the Main-Allen Transit station, which the university would like to incorporate into the medical school building.

About mgm casino Foundation (mgm casinoF)

The mission of the mgm casino Foundation is to support and promote the activities and programs of the mgm casino by providing support, advice and counsel regarding philanthropy, fund raising, and development and also the management of gifts and grants on behalf of the university.

About mgm casino Foundation Services Inc. (mgm casinoFS) and FNmgm casino Inc.

mgm casinoFS and FNmgm casino Inc are non-profit corporations organized to promote and support the educational mission of the mgm casino. They are affiliates of the mgm casino Foundation.

mgm casinoF Contact: Edward Schneider, Executive Director

716-645-3013

schneide@buffalo.edu