New York buys 11 acres in Niagara Falls for $26M
NIAGARA FALLS, N.Y. (AP) — New York state is spending $25.7 million to buy 11 acres of property in downtown Niagara Falls where it wants to see more development.
USA Niagara Development Corporation’s board of directors on Wednesday approved the acquisition of 32 individual properties held primarily by local businessman Joseph Anderson. The purchase is part of Democratic Gov. Andrew Cuomo’s Buffalo Billion initiative to spur development in western New York.
State officials say they’ll work to secure mixed-use development that will complement nearby Niagara Falls State Park and other resources.
The properties include two hotels, 18 vacant lots, four parking lots, four lots that used to have tourist attractions and four that have commercial buildings. The hotels are expected to stay open.