Niagara Falls' Main Street Business District has new investors moving in. Blue Cardinal Capital, a real estate private equity firm, is acquiring 38 properties in Niagara Falls, 21 of which are located along Main Street.
Public officials have been working to revitalize the city of Niagara Falls for years, efforts that have included the construction of the Niagara Falls International Rail Station and the removal of the Robert Moses Parkway.
Now, Main Street has a main investor in Blue Cardinal who Mayor Paul Dyster said has worked with his administration on a redevelopment plan. More details are expected in the coming weeks.
The parcels, which were sold for $3.2 million, cover over 200,000 square feet of developmental land. Blue Cardinal said they will start a capital maintenance program to stabilize the buildings while they evaluate the best use for each of their newly purchased properties.
