Falls hotel to get funds for retail, restaurant
From the Buffalo News:
A Canadian hotelier currently refurbishing two Buffalo Avenue hotels will receive $1.1 million in city and state money to bring retail and possibly a chain restaurant to one of them.
Faisal Merani plans to spend $3.8 million to expand the restaurant and retail area of his Holiday Inn at First Street and Buffalo Avenue, near the Rainbow Boulevard roundabout downtown.
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Fixing the Falls: Downtown still under development
From the Niagara Gazette:
The DiCienzio family has been doing hotel business on both sides of the border in Niagara Falls for years.
In 2007, the family business, Canadian Niagara Hotels, sold the old Holiday Inn at the corner of Third Street and Rainbow Boulevard to make way for its demolition as part of the expansion of the footprint for the Seneca Niagara Casino and Hotel.
Three years later, the Dicienzios, who own several hotel properties in Niagara Falls, Ontario, returned to the American side with an investment in the former Crowne Plaza Hotel. The Third Street property has since been renovated and re-opened under the Sheraton flagship. Last month, the company opened a TGI Friday’s restaurant inside the hotel on the side facing Old Falls Street.
Michael DiCienzio says favorable Canadian currency rates and other market factors played a role in the family’s decision to invest downtown. He said improvements to the appeal of the area helped as well.
“It’s better since they took out the Wintergarden and developed the Old Falls Street promenade,” DiCienzio said. “You have the anchors at each end with the casino and the park and now everything else can line up in between. It’s absolutely moving in the right direction. There’s no doubt about that.”
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Auction of former Hotel Niagara goes to Vancouver bidder for $1.25 million
From the Buffalo News:
A 30-year-old Vancouver man placed the winning $1.25 million bid for the former Hotel Niagara at an auction Tuesday.
Jamil Kara said he plans to turn the 12-story building at Rainbow Boulevard and First Street downtown into a boutique hotel and condominiums.
Kara, who was one of 10 qualified bidders, said that he has been in the condo and hotel business for about seven years and that his development group owns several high-rises in the British Columbia city.
He said he also was involved in the Film Work Lofts, a recently completed project in Hamilton, Ont.
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Condemnation for Hotel Niagara?
From the Niagara Gazette:
It appears as though the old Hotel Niagara is headed for condemnation.
City council members learned Monday that a recent inspection of the Rainbow Boulevard property revealed several areas of concern, including the lack of electricity, heat and an operational fire protection system inside the building.
Chief Code Enforcement Officer Dennis Virtuoso stopped short of saying the building would be condemned but said representatives from his office would pay a visit sometime today.
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