From the Buffalo News:
A 30-year-old Vancouver man placed the winning $1.25 million bid for the former Hotel Niagara at an auction Tuesday.
Jamil Kara said he plans to turn the 12-story building at Rainbow Boulevard and First Street downtown into a boutique hotel and condominiums.
Kara, who was one of 10 qualified bidders, said that he has been in the condo and hotel business for about seven years and that his development group owns several high-rises in the British Columbia city.
He said he also was involved in the Film Work Lofts, a recently completed project in Hamilton, Ont.
Harry Stinson of Hamilton (builder of One King West, Toronto) is a partner in this too.