"I think things are happening down there despite the threat of a stadium. It’s developing on its own organically," he said.

"How could we pass this up?"

Paladino said his father and a partner started buying properties on and around Louisiana and Ohio streets as early as the 1970s, starting with the current site of the Patrick J. Paladino Memorial Boathouse and the new apartment building at 301 Ohio St., as well as an old gas station across the street.

Even though there wasn't much there yet, the developer was attracted by the proximity to the Buffalo River. "One thing we've watched from other cities, you can never go wrong with water," he said.

That was followed by other purchases, as well as construction of the St. Brigid's Square strip plaza at Louisiana and South Park Avenue, with a Family Dollar store and a gas station and convenience store. "We just saw the potential down there, and how could we pass this up?" Paladino said.