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Falls Council not sure about price for Hamister development

by TSchmitt
Tue, Jul 9th 2013 09:32 am

The Niagara Falls City Council is rethinking giving away a piece of property at a fraction of its value to allow a development group to build a hotel.

The Hamister Group is hoping to acquire the property on Rainbow Boulevard from the city for $100,000 even though the plot is assessed at about $2 million.

But the parking lot has been sitting empty for years and Niagara USA has said it would contribute nearly three million dollars toward the $25 million development.

That project is expected to bring about 70 jobs to downtown Niagara Falls.

 

 

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