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Hotel Niagara Project Starting

Restoration of the Hotel Niagara will officially kick-off today in Niagara Falls.  Brine Wells Development LLC is undertaking the $42 million project. The Hotel Niagara is the oldest standing hotel in Niagara Falls and retains much of the architectural integrity that once made it an iconic piece of the city’s skyline.

Governor Cuomo announced in July 2017 that Brine Wells was designated as “preferred developer” for the restoration of the hotel that fronts on Centennial Circle in downtown Niagara Falls.  Since that time, the developer has been completing its due diligence, finishing design work, securing approvals, and structuring financing while negotiating the development agreement with USA Niagara Development Corporation (USAN).   Brine Wells will pay USAN $1 to purchase the property and will receive an ESD economic development incentive of $3.5 million.  Brine Wells will also secure state/federal historic tax credits.  The project will employ 150 direct, full-time equivalent construction jobs and 67 direct, full-time permanent jobs.

Built in 1924, the 12-story Hotel Niagara was among the city’s finest lodging and banquet establishments and is listed on the National Register of Historic Places.  Although it has long held a prominent spot in the downtown Niagara Falls skyline, decades of deferred maintenance, neglect and multiple changes in ownership resulted in the property’s degradation and eventual vacancy. The Hotel Niagara’s final iteration, a Travelodge, closed in 2007.

Brine Wells Development will transform the property into a full-service, 160-room “upper-upscale” hotel with restaurants, lounges and banquet facilities.

Written by Buffalo Rising

Buffalo Rising

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