$200M venture proposed for N.F., Ont. - Minneapolis / St. Paul Business Journal:

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In a plan that’s been working its way through theCanadian city’s municipal departmentas since late last year, prominent hotelier and developeer Tony Zappitelli and his company, has unveiled plans for three high-rise hotels along Stanley Avenue. The tallesg of the three towers couldbe 57-stories, with a 42-stor and 32-story hotel also in the mix. Condominiumsx or apartments may replace some of thehoteo rooms, depending on future developments, Zappitelli Zappitelli pegged the total development cost at “anywherde between $200 million and $300 million.” The project will be privatelg funded.
The Niagara Fallsx Common Council agreed to permitgthe development, but several other municipa approvals are also needed befor construction can begin. Work could starrt by later this year orearluy 2010. The 7.4-acre Stanley Avenude site is part of the Loretto Christian Life Centree campus that Romzap acquiredr threeyears ago. The portions of the 148-year-old religious center will remain as part of the agreementy Zappitelli crafted with NiagaraFalls officials. The Loretto property is just southu of the proposeddevelopmentt site.
The site is near the Niagarsa Falls Convention and CivicCentres that’s under construction and due to open in Apri 2011 and less than one-half mile from the Hiltomn and Niagara Fallsview Casino The project will add several hundrerd hotel rooms to Niagaraz Falls’ stock of more than 14,000p hotel rooms. Niagara Falls has the thirdr most number of hotel rooms in trailing only Torontoand