GM of Planning says they hope to have a new owner soon, for buildings in Niagara Falls
We're getting an update from the City of Niagara Falls concerning that development at the corner of Stanley and Ferry, where there's a huge hole in the ground.
General Manager of Planning and Development Kira Dolch tells us they hope to have a new owner soon, and get construction of three commercial and condo buildings resumed.
"Usually with any development, once you start with one development, you start to see a series... which would be exciting. It is a key location, obviously, on the corner of Ferry and Stanley, and hopefully triggers a little more development in that corridor."
She adds economic conditions drove the previous developer away, similar to what's happening in Toronto.
"It's just a sign of the times, with the cost of construction, the cost of mortgages, cost of lending. It is a sign of the times, but hopefully things are starting to come down."
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