Niagara Falls development financing falling into place
From WBFO News:
Across Niagara Falls, there are projects suggesting the tourism boom – and development that feeds off tourists – are here to stay for the long haul.
For the first time, the legendary Wall Street investment bank Goldman Sachs is dipping its treasury into Cataract City development, helping build the Hyatt Place Hotel on Rainbow Boulevard. Mayor Paul Dyster said it opens new avenues for financing more hotels.
“They’ve gotten a reputation for being a very tight-fisted nuts and bolts outfit and I agree with him,” Dyster said. “The fact that they’ve decided to risk this investment in Niagara Falls is a very, very positive thing going forward. I think as a practical matter, their investment here is going to make it easier for others that are financing the next round of projects to get bank financing.”