The consultant team, led by HVS and CJL, provided a city and regional economic and market assessment study to assist USA Niagara Development Corporation in encouraging economic development and attracting additional private investment to the area.
The study included development of data on annual visitors and spending and market area demographics for the bi-national area. It also involved specific assessment of various sectors of the real estate market in Niagara Falls, NY, including: hotel, residential, attractions, retail, restaurant and entertainment.
Major recommendations were:
(1) Land assemblage to allow for creation of a highly-concentrated visitor district
(2) Development of a tourist-oriented, restaurant, retail, and entertainment complex within this district
(3) Use of public incentives to encourage development of a upper-upscale, full-service hotel to be located strategically within this visitor district