In a move that could kick-start a development wave along a stretch of Main Street in downtown Niagara Falls, the city is preparing to take over ownership of 39 buildings, including the Rapids Theatre.

The move, which is expected to be completed by this December, will shift the development fate of the properties—mostly commercial structures—from private developers to Niagara Falls.

Taken together, it could help solve a development and urban planning dilemma that has haunted Niagara Falls for the past few decades.

“Our goal is to create a vibrancy along Main Street and help it grow,” said Niagara Falls Mayor Robert Restaino.

“We just have to get these properties into the right hands.”

The development game plan will start with the Niagara Falls Urban Renewal Agency gaining ownership and control of the Rapids Theatre at 1711 Main Street.

Niagara Falls Urban Renewal Agency has a tentative deal in place with Niagara’s Choice FCU, who holds the mortgage on the 800-seat century-old theater.

Approximately $1.74 million has been allocated by Niagara Falls Urban Renewal Agency to buy and renovate the theater. Funds are coming from Seneca Niagara Resort & Casino revenues paid to the city and a $204,000 allocation from the Niagara County Industrial Development Agency’s Cataract Fund program, Restaino said.

Restaino said he hopes to secure a deal with a concert and/or entertainment promoter or a special events operator to take over operations at the Rapids Theatre.

“The potential is there,” Restaino said.

At the same time, Niagara Falls is on pace to close a deal with Bank on Buffalo to secure ownership of 38 Main Street buildings that had been owned by investor Blue Cardinal Development LLC. All 38 are vacant.

Restaino said the city will issue a development RFP (request for proposal) to turn the properties back into occupied buildings.

Initial plans target student housing for Niagara University and Niagara County Community College enrollees.

All of the properties are on a stretch of Main Street between Michigan Avenue and Niagara Avenue.

“Everyone wants this to work,” Restaino said. “It’s time to turn that portion of Main Street around."

Pictures of Niagara Falls

Pictures from both the American and Canadian sides of Niagara Falls.

Gallery Credit: Canva

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