Tag: investment

    New attraction at Cave of the Winds highlights larger redevelopment of Niagara Falls park

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    From 88.7 WBFO:

    A new attraction has opened at the Cave of the Winds in Niagara Falls, offering guests a year-round facility to learn about the natural wonder’s history. It’s also the latest completed project in an overall $70 million investment to update Niagara Falls State Park.

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    Niagara Falls shouldn’t build new convention center for at least 6 years, consultant says

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    From the Buffalo News:

    A Minneapolis consulting firm says Niagara Falls shouldn’t bother erecting a new multi-use facility for sports, conventions and concerts until it beefs up its off-season tourist attractions.

    The draft report, obtained by The Buffalo News, says the city and Niagara County should wait at least six years to wait for investments in new attractions to bear fruit before considering such a facility.

    Council approves application for hotel towers

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    From the Niagara Falls Review:

    City council gave the green light on two, 38-storey and one, 56-storey hotel developments on Robinson Street that represent about $600 million worth of investment.

    Canadian Niagara Hotels, the company behind the project, said each tower will cost between $180 million to $200 million, while the team’s agent, Michael Kirkland, told councillors Tuesday night it’s going to provide about 2,000 permanent, full-time jobs.

    The three towers will provide more than 1,800 hotel rooms, meeting rooms, retail stores, restaurants, on-site surface parking, and parking garages.

    “You’re getting close to what it cost to build the casino way back. You must have real confidence in Niagara Falls,” said Coun. Kim Craitor.

    $7M upgrade at ‘here to stay’ Casino Niagara

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    From the Niagara Falls Review:

    A $7-million upgrade to Casino Niagara expected to be completed by mid November is another example the facility — which originally was meant to be temporary — is “here to stay,” says Niagara Casinos president Richard Taylor.

    “The property was starting to get a little bit tired, and it was in need of a rebuild, and that was sort of the impetus behind all of this, was the need to recreate what this property is, and to give the customers more of what it is that they’re looking for,” said Taylor.

    “But it’s not just this current project. With our partnership with (Ontario Lottery and Gaming Corporation), there’s been a $20-million investment in this property over the last couple of years, on the level upstairs, and a number of the other pieces of infrastructure here. So we’re approaching a $30-million investment at this property within the last couple of years. It’s a significant part of our business, and it’s here to stay.”

    $7M Casino Niagara project underway

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    From the Niagara Falls Review:

    Casino Niagara has started the next phase of a $7-million investment it says will “deliver an elevated” gaming and entertainment experience for all visitors.

    The current phase of the project focuses on a transformation of the second level into a destination for sports fans, food enthusiasts, entertainment seekers and visitors.

    Completion is scheduled for this fall.

    The project includes a $3.5 million spend on infrastructure and redesign for a fresh entertainment experience that greets visitors as they walk through the doors.

    An additional $3.5 million is being invested in technology and gaming, to offer guests the next generation of gaming.

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    Mini makeover for Casino Niagara’s 20th birthday

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    From Niagara This Week:

    Casino Niagara is in line for a little sprucing up.

    Richard Taylor, Vice-President of Operations for Niagara Casinos used the occasion of the gaming facility’s 20th birthday to announce that Falls Management Company would be pumping $7.1 million into new gaming technology and facility improvements

    “This investment will help us lead Casino Niagara into the future with new gaming technology, new dining experiences and an enhanced customer experience,” said Taylor said.

    He made the announcement at an event to mark the milestone for what was the third casino to be established in Ontario when Casino Niagara opened its doors on Dec. 9, 1996.

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    WFOL grows in illuminations, visitors in 2015-16

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    From the Niagara Falls Review:

    This past season provided a “perfect recipe” for the Winter Festival of Lights to “really shine,” says program director Tina Myers.

    “Fabulous” weather, a favourable U.S. currency exchange and the investment of $2 million into lighting, infrastructure and new technology ensured the festival “kicked butt” in 2015-16, she said.

    The festival saw a 43 per cent increase in the number of vehicles that drove through Dufferin Islands this past season between Nov. 21 and Jan. 31.

    That means 61,551 vehicles passed through Dufferin Islands, which saw a large lighting expansion and is the festival’s primary point of interaction with visitors, compared to 43,189 in 2014-15.

    “We broke a record,” said Myers, adding the previous record at Dufferin Islands was 59,000 vehicles in 2006.

    “We are extremely happy about that.”

    Niagara Falls project spurred by Chinese investment

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    From WBFO:

    The Chinese government is supposed to put up the first $100 million toward a billion-dollar development in Niagara Falls, Ontario.
    That’s from Falls Mayor Jim Diodati who leaves for Beijing this morning for talks on the planned project.

    It’s been publicly in the works for months, a mix of residential, tourist and wetlands near the John Daly Thundering Waters Golf Course.

    “A good portion of the land is wetlands as well which obviously is going to be protected. But, there is a good portion of lands directly adjacent to the wetlands that are in a real neat area. But, it’s largely been completely undeveloped,” Diodati explained.

    Hotel Niagara sale expected by end of summer

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    From the Niagara Gazette:

    After May reports that the Hotel Niagara’s sale would finalize in June, undisclosed delays have pushed the closure date to the end of summer.

    In addition, an invitation obtained by the Niagara Gazette this past week advertises a “rare investment opportunity” at the historic Hotel Niagara, with recipients invited to consider the $199,900 purchase price for a fully furnished suite or the possibility of obtaining a limited quantity of $99,900 suites contingent upon a 120-day payment plan. Private tours are being conducted today.

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