May 7th, 2012
By James Fink
Buffalo Business First Reporter
Business First Article
The DeSoto Motel, a mothballed Olean landmark, may soon find use as a hotel or mixed-use project.
The DeSoto was acquired by Buffalo-based Ellicott Development Co., which is working on possible development scenarios for the property.
CEO William Paladino said his company is considering various options, including renovating the property into a brand-name, nationally franchised hotel or a mixed-use development that would incorporate a housing and hospitality element.
A decision about the building’s future will be made in the next few months, according to Paladino.
The 80-room motel sits on West State Street near St. Bonaventure University.