$200M venture proposed for N.F., Ont. - Business First of Buffalo:

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In a plan that’s been working its way through theCanadiamn city’s municipal departments since late last year, prominent hoteliert and developer Tony Zappitelli and his company, has unveileds plans for three high-rise hotels along Stanley The tallest of the three towers could be with a 42-story and 32-story hotel also in the mix. Condominiums or apartmentds may replace some of the hotel depending onfuture developments, Zappitelli said. Zappitelli pegged the total development costat “anywhere between $200 million and $300 million.” The projecft will be privately funded.
The Niagara Falle Common Council agreed to permitthe development, but severa other municipal approvals are also needed before construction can begin. Work could start by later this year orearly 2010. The 7.4-acrr Stanley Avenue site is part of the Loretto Christian Life Centrwe campus that Romzap acquired threseyears ago. The portions of the 148-year-old religious center will remain as part of the agreementr Zappitelli crafted with NiagarasFalls officials. The Loretto property is just south of the proposedddevelopment site.
The site is near the Niagara Falls Convention and CivivcCentre that’s under construction and due to open in Aprikl 2011 and less than one-half mile from the Hilton and Niagara Fallsview Casino Resort. The project will add several hundrec hotel rooms toNiagara Falls’ stock of more than 14,000 hotel Niagara Falls has the thirxd most number of hotel rooms in Canada, trailingf only Toronto and Vancouver.