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Letter of Intent Signed to Purchase Historic Hotel Niagara

A letter of intent has been signed between Canadian developer Harry Stinson and Matthew Shollar of Reception Hotel & Resorts for the iconic Hotel Niagara that has sat vacant in the heart of Downtown Niagara Falls for several years.

Harry Stinson has struggled to attain financing for his vision of restoring the Hotel Niagara back to its 1920s glory as an independent destination hotel. If a deal is struck, Shollar and his partners intend on pursuing a Raddison flag or comparable flag for the hotel redevelopment. It is estimated that the total project cost will be $27 million with much of it being earmarked for interior restoration and renovation. No longer in the plans as previously reported are dorms to house Niagara County Community College students who are currently staying at the Quality Inn and Suites under a temporary arrangement.

The redevelopment of the Hotel Niagara has proved to be a difficult task as it has changed hands several times over the last 5 years. Maybe the wait is finally over?

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Written by Niagara Falls Guy

Niagara Falls Guy

Buffalo and Niagara Falls are connected as a region. The cities are tied together through an economic, cultural and environmental climate. Not to mention the people that strive to make Western NY a place that is filled with growth and opportunity. Niagara Falls is an international draw that deserves ample coverage when fitting news comes to pass.

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