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Nov 1, 2011

Imagining the Future of the Niagara Hotel

     Over the last few months the Niagara Hotel also known as Hotel Niagara has been headlining local development news. The latest development in its long history is the transfer of ownership rights to Harry Stinson (Toronto Real Estate Developer) through an arrangement with Jamal Kara, the Vancouver developer who submitted the winning $1.25 million bid.

     Stinson's most prominent development of late is a 51 story hotel and condominium combination located at 1 King Street, Toronto, Canada. Many critics claimed that this structure was physically impossible to construct due to the dimensions of which make it incredibly narrow. However, Stinson defied the critics and in 2005 completed the building in the heart of Toronto's financial district. 
    Having already done the so called "Impossible" in Toronto, will Harry Stinson be able to do what many prospective developers have failed at doing in the heart of downtown Niagara Falls? Well it seems so. Hotel Niagara is already be heavily advertised to prospective investors according to Stinson Development's website. It appears that he is beginning to harness the potential of recent developments in Downtown Niagara Falls and leverage them for further investment. Here is an example from his website referencing the opportunities the soon to be completed Niagara County Community College Culinary Institute creates:


"The (‘off-season’) accommodation needs of the College provide an ideal balance for our cash flow. The Hotel Niagara offers an affordable option for students and staff who prefer privacy, security and convenience (and appreciate that we enforce higher standards)."

     It seems the use of public dollars to finance and subsidize recent developments is beginning to finally pay off. If the Hotel Niagara prospective development is any sign of the future to come, we have a lot to look forward to. Let's all hope for a completed project this time around! Good Luck Harry Stinson ... If you actually complete this project you may be just as glorious and famous as Hotel Niagara!

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