Niagara Falls, N.Y. (WBEN) - Continued urban renewal efforts along the North end of Niagara Falls' Main Street has landed another project.
Niagara Falls-based developer Ryan Dallavia is undertaking a $1.1 million project that will revive the long vacant building at 2109 Main Street in an apartment-anchored project.
The circa 1900-era, three-story building will house six market rate apartments and some street-level retail.
"We live and work in Niagara Falls," Dallavia said. "I'm willing to take a little bit of a risk."
The project joins a growing list of developments in Niagara Falls' pipeline along the north end of Main Street. Many are from a 38 building portfolio being championed for redevelopment by Mayor Rob Restaino.
Among the projects: Reviving the Rapids Theater and seeing the former Jenss Department Store building turned into a residential-anchored development.
"We do need certain economies of scale," Dallavia said. "We need that critical mass."
Dallavia is working the Niagara County Industrial Development Agency on a tax break package that is critical to the project advancing.
The developer is seeking $419,131 in combined sales tax breaks and a 10-year payment-in-lieu-of-taxes package. The IDA directors are expected to vote on the package on Oct. 14.
"This will be the first of what we hope to be many projects taking place along the north end of Main Street," sad Jeremy Geartz, NCIDA business development manager.
Dallavia said he hopes work can start later this fall and the apartments should be move-in and tenant-ready by next summer.
The early 1900s building is being eyed for an apartment project
The early 1900s building is being eyed for an apartment project
