The USA Niagara Development Corporation Board of Directors has approved two grants for new mixed-use projects in downtown Niagara Falls, which leverage private-sector investment to facilitate economic development.
A grant of up to $1.7 million was awarded to Plati Niagara Inc. for its $20 million mixed-use Cambria Hotel Niagara Falls project at 311 Rainbow Blvd. The seven-story, 120-room upscale hotel development will also include three new vacation rental residential guest houses that will complement the historic character of Buffalo Avenue’s Heritage District.
A $145,000 grant was also approved for 324 Niagara Street Landlord LLC for its $3.5 million dollar mixed-use rehabilitation project at two historic buildings, 320 Niagara St. and 324 Niagara Street. The board said the buildings represent an important contribution to the late-19th- and early-20th-century urban architecture, commercial history and community development of downtown Niagara Falls.
“USAN continues to support projects that will transform downtown Niagara Falls into a pedestrian, residential and tourist-friendly area,” said USAN Chair Francine Delmonte. “These projects both have historic elements — whether reestablishing a residential block or rehabbing historic properties — that will also add character and vitality to the tourist district.”
