Advanced Search  |  Sitemap  |  Contact Us
  
 

FOLLOW US

Subscription required for full online access

Current subscribers to the Buffalo Law Journal, click here to create an account for full online access.

Not a subscriber? Click here to see subscription options. Questions about your online access? Call us at 716-541-1650.

Bizjournals Legal News

Attorney pleads guilty to three counts Thu, 24 May 2012 23:49:16 +0000
The Funded: Lex Machina, Lam Aviation Thu, 24 May 2012 21:22:58 +0000
Sorin Royer Cooper law firm splits up Thu, 24 May 2012 19:28:42 +0000

Google Legal News

Featured News - Current News - Archived News - News Categories

Help is on the way for Niagara Falls business districts

Mon, Jul 12th 2010 12:00 am
On two fronts, key commercial districts in Niagara Falls are getting some much-needed help.

It's coming in the form of aid being offered by USA Niagara Development Corp. Agency directors agreed to incentive packages that will help with the restoration of a key Third Street property and help the Buffalo Avenue business district, as well.

They agreed to a $55,000 grant to Erdco Development LLC, which is planning to restore a circa 1920s, 13,000-square-foot building at 451 Third St. Erdco is proposing a mixed-use development anchored by eight residential units and four, first-floor commercial units. Two commercial tenants, including a restaurant, may soon move into the building.

Erdco is investing $817,000 in the project.

Besides the USA Niagara grant, the City of Niagara Falls agreed to a $150,000 grant while Erdco applied for a $100,000 grant through a separate USA Niagara program, as well as a $50,000 loan through Niagara Falls' NFC Development Corp.

"Small-business owners and local entrepreneurs are the backbone to any community, and that is certainly the case for Niagara Falls," said Dennis Mullen, USA Niagara and Empire State Development Corp. chairman. "Because this city is on a worldwide stage, making sure our city's neighborhoods and local businesses thrive becomes that much more critical."

He said a similar mind-set was behind USA Niagara's support of the Buffalo Avenue Heritage District Microgrant Program, an initiative that offers incentives for projects involved in preserving, stabilizing and upgrading buildings in the district.

Grants of up to $10,000 are available.

These are not issues that should be taken lightly. Niagara Falls, N.Y., suffers when it is compared to Niagara Falls, Ont. Its cousin across the Rainbow Bridge has seen more than $4 billion worth of new projects take hold in the past 15 years. Even with border-crossing issues, a difficult international economy and an uneven loonie, Niagara Falls, Ont., has found a way to thrive. Last year, it attracted more than 14 million tourists; the number was 8 million on the U.S. side of the border.

By the way, the weather there is the same as in Niagara Falls, N.Y. And just as New York is perceived as being over-taxed, Ontario residents have the same complaint about their provincial government.

That's why Mullen said USA Niagara's mission is so important.

The challenges for Niagara Falls, N.Y., are numerous. And Buffalo Avenue is a prime example.

The street once was lined with a nice collection of buildings and businesses. These days, it's a mere shell.

"USA Niagara continues to target the heart of our commercial district, as well as the historic and commercial portion of our downtown, for intense redevelopment," said Mayor Paul Dyster.

With the exception of the Seneca Nation of Indians and USA Niagara, development has been slow to take hold in the Cataract City.

Erdco is the exception, not the rule.

It will be interesting to see what follows.

Very interesting.

More help for the Falls

Niagara University's Castellani Art Museum will be able to call its satellite location home for at least five more years.

USA Niagara Development Corp. agreed to extend the museum lease for 875 square feet in Conference Center Niagara Falls through 2015. The museum will get the space rent-free, and in return it agreed to exhibit "museum quality" artwork.

Conference Center Niagara Falls will not be charged for any exhibit-related costs.

The museum opened in Conference Center Niagara Falls four years ago and showcases local talent.

The main Castellani Art Museum is on the Niagara University campus.

Open for business

To capture business during the prime summer season, Howard Hanna Holt Real Estate has opened a model/sales office for the Bemus Bay condos.

Bemus Bay features 40 Chautauqua Lake homes in two buildings - named Browning and Columbian - that were designed to resemble early 20th century hotels of the same names that once graced the current condominium site.

Each home includes a private boat slip.

"These are magnificent, lakefront homes," said company President George "Pete" Holt.