Update (July 24, 2023): NFR’s offer to the City of Niagara Falls is currently being updated to reflect discussions with the Niagara Falls City Council on the exact parameters of the land to be donated, and the funds to be donated for maintenance, upkeep and other economic development purposes (the current offer, made in discussions with City Council, is for $3.5 million in funds to be donated over 10 years, in addition to land). Maps are currently being updated, but it should be noted that 100% of the land is owned by NFR.
Check back with us in the coming weeks for more details.
Economic Opportunity, Public Amenities
As part of the new $1.48 billion Niagara Digital Campus development, NFR is proposing donating a portion of its existing land to the City of Niagara Falls for public amenities, including a potential public park that is actually closer to the residents who will use the park.
Significantly, 100% of the proposed land to be donated is owned by NFR, so the city would incur no land acquisition costs.
NFR will also donate $350,000 to the city each year for 10 years for upkeep and maintenance of the park, as well as for other economic development efforts.
In addition, NFR has proposed city-owned land on the corner of Third and Niagara Streets as an ideal location for the events center: Near Third Street hospitality businesses, hotels and other commercial locations, and with ample parking—including the Rainbow Mall parking ramp and the Seneca Casino. Utilizing existing parking for the proposed events center would save the city tens of millions in construction costs.
The upshot? Residents of Niagara Falls can get a park and high technology jobs and opportunity while adding to the city’s tax base, rather than adding to the tax burdens and deficits that will saddle future generations.
To view or June 2022 press release on the Urbacon/NFR development proposal, click here.
A Fact Sheet on the project can be downloaded here.
Build ’em both… Let’s make Niagara Falls a gateway to entertainment and technology!
