Developers Vie for Niagara Falls MXD

NIAGARA FALLS, NY-The Cuomo administration on Friday announced what it called the next step in the transformation of downtown Niagara Falls, which has been in economic decline since the 1960s. A pair of developers have been selected to propose comprehensive plans to redevelop the remaining 200,000 square feet of the former Rainbow Centre Mall.

New York State has given the nod to Intertrust Development Inc., one of the largest hospitality business owners and developers in Western New York and Niagara Falls, Ontario; and Uniland Development Co., a leading builder, developer and manager of commercial real estate in Western New York. The final choice is slated to be made by year's end.

The announcement came as part of the Cuomo administration's "Buffalo Billion" Western New York investment initiative. "Niagara Falls is one of our state's most valuable tourism assets, drawing visitors from around the globe to see the magnificent falls, and a transformed downtown will help the City of Niagara build on this strength to further revitalize the local economy,” Gov. Andrew Cuomo said Friday. “Through the Buffalo Billion, the state made a commitment to rebuilding Western New York's economy and creating jobs in communities that have seen economic hardship for too many years, and today we are continuing to deliver on that promise."

Proposals for transforming the city-owned property--originally built in 1982 and vacant since 2000--will include detailed financial and development plans, including a relatively high-density, mixed-use redevelopment with active ground-level uses. The property's strategic location between Niagara Falls State Park and the Seneca Niagara Casino make it an important development that could foster relationships between these areas and future development on adjoining parcels.

Intertrust's proposal calls for an upscale, urban mixed-use entertainment development. It would include themed franchised restaurants, a retail plaza, attractions, a hotel and other amenities. Uniland Development's preliminary concept is to transform the structure into a year-round destination. It focuses on redevelopment efforts such as a hotel, themed attraction, retail/restaurant space and expansion of the Niagara Falls Culinary Institute which occupies part of the long-shuttered mall's space.

"The Culinary Institute has been a hit since it opened its doors and we must capitalize on that momentum,” State Sen. George D. Maziarz said Friday. “There are hundreds of thousands of square feet waiting to be redeveloped in the former mall, and the process outlined today should help identify the next big economic development project to be launched in Niagara Falls."

Under an agreement with the City of Niagara Falls, Empire State Development, through its subsidiary USA Niagara Development Corp., is leading the process for selecting the redevelopment plan for the property. It's expected that the Niagara Falls City Council will receive USAN's recommendation on the selection of the preferred developer for the council's final approval by the end of 2013.