NIAGARA FALLS, N.Y. — Steps are being taken to make a plan for the redevelopment of a property acquired through the Buffalo Billions initiative in downtown Niagara Falls.
On Thursday the USA Niagara Development Corporation (USAN) announced a request for proposals (RFP) for the redevelopment of property at the intersection of First and Old Falls streets.
The plot of land just under two acres has an appraised value of over $4 million and is two blocks from the entrance of Niagara Falls State Park. The site was acquired through the second phase of New York State's Buffalo Billion initiative in 2019.
“Located on Old Falls Street, the most heavily trafficked pedestrian route in Western New York, presents an exciting development opportunity,” said USAN President Anthony Vilardo. “We envision redevelopment of the site with a high-density mix of uses and active ground-level retail that would contribute to visitor and resident offerings in downtown Niagara Falls.”
After a strategic planning process, this site was chosen to be the first redevelopment target. This RFP is intended to focus on mixed-use development that improves upon the walkability and density of the area and expanding retail available.
“USAN has committed to improving the downtown core through its property acquisitions in 2019,” said City of Niagara Falls Mayor Robert Restaino. “The City looks forward to the results of the RFP on this very important and prime location.”
Analysis has suggested that there is unmet demand along the Old Falls Street area for a major upscale hotel, restaurants and residential units.
The current development on the site will be demolished to allow for development of the site.
Proposals are due on December 10.
