City and state officials joined developers Thursday to outline roughly $50 million in projected private investment aimed at revitalizing Niagara Falls' historic Main Street corridor, including new housing, commercial development and the restoration of long-vacant buildings.
The announcement marks another step in the city's efforts to redevelop properties that have deteriorated over decades. The Niagara Falls Urban Renewal Agency now controls 38 properties along the corridor, with several redevelopment agreements in place and some construction already underway.
"In a short span of about a year and a half, we now have projects with total projected investment of nearly $50 million in private investment here on Main Street," Mayor Robert Restaino said.
Among the largest proposals is a $25 million development at 2010 and 2018 Main Street that would transform two historic buildings into 100 student housing units for Niagara University.
Abe Bose, principal of Niagara Development Partners, said the project is intended to do more than restore deteriorating buildings.
"It's not just about replacing blighted structures with modern premium student housing and ground floor retail. It's about creating an economic engine that brings foot traffic and daily activity back to this block," Bose said.
The proposed development would feature a mix of studio, two-, three- and four-bedroom units, with the final configuration informed by feedback from students.
Bose said developers hope to begin construction in April or May 2027, with an estimated two-year construction period and an anticipated opening in May or June 2029.
The development will rely on a combination of private investment, construction financing and historic tax credits. While Niagara University is collaborating on the project, Bose clarified that the institution is not a financial partner.
Preserving the buildings' historic character is also a priority. Bose said developers intend to retain the existing facades and much of the interior architecture, including high ceilings and cast-iron columns. Plans could include adding two stories, subject to state and federal historic preservation approvals.
The buildings have suffered significant deterioration, including damage to the roof, but Bose said the conditions are manageable based on his team's previous redevelopment experience.
Other projects are also moving forward along the corridor.
According to Niagara Falls Director of Business Development Morgan Genovese, construction is underway at 2109 Main Street on a mixed-use development featuring six apartments and ground-floor commercial space.
At 1708 Main Street, developers are finalizing plans to transform the former Jenss Department Store into 32 two-bedroom market-rate apartments and a ground-floor commercial bazaar. Construction has also begun on a short-term rental property at 803 Division Avenue.
The former Rapids Theatre is another property included in the city's redevelopment efforts, with officials hoping renewed entertainment activity could help attract additional businesses.
The private development plans are accompanied by public investments, including approximately $10 million through the state's Downtown Revitalization Initiative for streetscape improvements between Ontario and Pierce avenues.
Those plans include improving walkability, strengthening pedestrian connections to Niagara Falls State Park and creating a public plaza outside the Main Street Library.
Empire State Development also provided $2.5 million to support the acquisition of long-dormant properties and help initiate the redevelopment process.
Despite the recent announcements, Restaino acknowledged that revitalizing the entire corridor remains a long-term undertaking.
"It's still a long walk to develop the entire property, and no one's fooled that our job is done here. But we think that our start is an excellent one," Restaino said.
Bose also acknowledged skepticism from residents who have seen previous redevelopment efforts stall. He said the partnership with Niagara University distinguishes the proposed student housing project from earlier attempts.
While several projects have advanced into planning or construction, the largest developments still face financing, approval and construction milestones before the city sees the full impact of the proposed investments.
