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

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In a plan that’s been working its way througy theCanadian city’s municipal departmentss since late last year, prominentr hotelier and developer Tony Zappitelli and his has unveiled plans for three high-rise hotels alonbg Stanley Avenue. The tallest of the three towers couldfbe 57-stories, with a 42-story and 32-stor y hotel also in the mix. Condominiums or apartmentd may replace some of thehotel rooms, depending on futurd developments, Zappitelli said. Zappitellk pegged the total development costat “anywhere betweenm $200 million and $300 million.” The project will be privatelyu funded.
The Niagara Falls Common Councik agreed to permitthe development, but several other municipa approvals are also needed before construction can begin. Work could start by later this year orearluy 2010. The 7.4-acre Stanley Avenue site is part of the Lorettoo Christian Life Centre campus that Romzap acquired threeyears ago. The portions of the historic, 148-year-old religiousx center will remain as part of the agreement Zappitelli crafted with NiagarwFalls officials. The Loretto property is just soutnh of the proposeddevelopment site.
The site is near the Niagara Falls Convention and CivicCentre that’ws under construction and due to open in April 2011 and less than one-halg mile from the Hilton and Niagara Fallsview Casinpo Resort. The project will add severap hundred hotel rooms toNiagara Falls’ stoci of more than 14,000 hotel rooms. Niagara Falls has the thire most number of hotel roomdsin Canada, trailing only Toronto and Vancouver.