Two Buffalo Businessmen purchased the former Freezer Queen plant in November for $3 Million.

Their plans include:

• Conversion of the existing six-story, 272,000-square-foot food production and storage plant to condominiums, possibly adding two more floors to create luxury penthouse suites;

• A 250- to 400-room, five-star hotel tower, to be built on the tip of the mini-peninsula;

• A residential tower and townhouses on undeveloped areas of the property.

The Queen City team plans to move as “expeditiously” as possible with the hope of beginning the food plant-to-condo conversion by late spring. They are currently interviewing local and national architects for the project.

It sounds like a great plan, but with our local economy the way it is, and being the second poorest city in the country and all, is it really worth the investment or will it wind up another empty structure on the frozen tundra we call a waterfront?