Niagara Falls, N.Y. (WBEN) - Niagara Falls Mayor Robert Restaino was joined by a number of local business and community leaders on Thursday to discuss findings from a feasibility study of the proposed Centennial Park complex.
The proposed $200 million project aims to grow a demanding area, and the feasibility study showed a number of potential economic impacts and tourism opportunities for visitors and residents alike.
“There's been a lot of misinformation that's been put out about Centennial Park as a non-viable project. The information we're sharing today dispels the notion that Centennial Park is nothing more than a pipe dream. It is my hope that with this information, we can start talking about Centennial Park beyond just being a concept into a transformative project that will allow us to take control of our own destiny,” said Mayor Restaino during Thursday’s press briefing. “It is also an appropriate project for Downtown Niagara Falls. It complements our current assets, including Niagara Falls State Park and the Seneca Niagara Casino, among others, and our regional, national and international reputation as a world class tourism destination.”
Not only will the proposed park aim to focus on tourism, it will also aim to help bring more sporting events to the area and community involvement, including the potential of bringing a top junior level hockey team to the city. Mayor Restaino is certain this project will see growth.
“We've been talking about transformative projects for decades, and nothing has transpired other than a lot of ideas - some of them good, some of them not so good. This study verifies that we have something really good to pursue in Centennial Park, and the timing is right,” Restaino said. “Building a year-round, multi-purpose facility with a focus on amateur and youth sports, which is one of the fastest-growing segments in the hospitality and tourism industry. There is a strong demand and not enough supply, especially in the Northeast. Couple that with the power of Niagara Falls and you have a transformative project. So we'll continue our advocacy with our state leaders, armed with what we believe is a powerful rationale, particularly from an economic impact standpoint, to warrant the state to consider making this investment in Niagara Falls.”
Among the criteria established for the study included:
- Determining the economic impact through room nights at hotels and motels;
- An assessment of creating year-round jobs versus seasonal employment;
- Establishing how a new venue like this could capitalize on the growth in sports tourism.
Among the key findings of this study include:
- Approximately $52.7 million in direct economic impact during the first five years of operation;
- Approximately 94,411 annual non-local days in the market;
- Approximately 27,298 annual day trip visits;
- Approximately 14,496 annual new room nights.
Restaino strongly feels the feasibility study is the next critical step in the process of working with New York State to consider financially supporting Centennial Park.
“The fact remains: The City of Niagara Falls currently has little to no control over its own destiny. We don't share the full benefits of the resources generated at Niagara Falls State Park. The Power Authority owns valuable property throughout the city, but it's tax exempt. We're thrilled to have the Seneca Gaming Corporation as an anchor in the community, but we also know the saga that continues there with the Revenue Sharing Agreement. Finally, most of our prime real estate in the Central Business District is owned by a private entity that has been all talk and no action for now over 25 years,” he said. “We're grateful to Gov. Kathy Hochul, Assembly Majority Leader Crystal Peoples-Stokes, the other members of our state delegation, USA Niagara for their support of the city.”
While the support from a number of New York State lawmakers appears to be there, Restaino says one of the most important tasks he has to get done is to start taking a look at financing perspectives.
“How do you take something of this size and scope, and finance it? I'm not an expert in that, so my goal will be to get in touch with the experts, call upon the experts to have that conversation so that we can become educated as a community on that. That's really the next most important step,” Restaino explained.
Restaino says the study shows the low-end range for construction is $180 million to a high end of $220 million. The city believes that the number sits somewhere in the middle, close to $200 million.
While he admits he wishes this process could’ve started a couple years back, Restaino is expecting this process to take some time to be completed.
“Once again, first I have to learn, and then once I learn, then I have to go start knocking on the appropriate doors for that kind of support. I think we're probably looking to get things solidified in a year's time, because I think that's what it's going to take to bring all of the partners and friends together,” he said.
Restaino feels people understand the impact of Niagara Falls not just regionally, but also statewide and even nationally. The opportunity to accentuate that in a way that has been examined and well-thought out is exciting to him, and members of the State Legislature.
“There are a lot more people that are rooting for Niagara Falls to turn that corner,” Restaino said. “Yeah, you're going to hear locally some people who like to be stuck in those places, where they've been for a long time. It's comfortable there for them. But I think that if we're going to transform us, we're going to have to do it in that fashion. It's a big project.”
The feasibility study was conducted by Sports Facilities Advisory LLC, based in Tampa, with financial support from USA Niagara Development and National Grid. Sports Facilities Advisory LLC specializes in multi-purpose arenas and venues in the amateur and youth sports sector, and manages 90 venues across the United States with $15 billion in planned projects.