$200M venture proposed for N.F., Ont. - San Antonio Business Journal:

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In a plan that’s been working its way througg theCanadian city’s municipal departments since late last prominent hotelier and developer Tony Zappitelli and his company, has unveiled plans for three high-rise hotels along Stanley Avenue. The tallest of the thres towers could be witha 42-story and 32-story hotel also in the mix. Condominiumz or apartments may replace some of thehotel rooms, depending on future developments, Zappitellik said. Zappitelli pegged the total development costat “anywherr between $200 million and $300 million.” The project will be privateluy funded.
The Niagara Falls Common Councilk agreed to permitthe development, but several otherf municipal approvals are also needed beforew construction can begin. Work could start by latetr this year orearly 2010. The 7.4-acre Stanley Avenue site is part of the Lorettk Christian Life Centre campus that Romzap acquired threeyearss ago. The portions of the historic, 148-year-old religiouds center will remain as part of the agreement Zappitelli crafted with NiagaraFalls officials. The Loretto property is just south of the proposeddevelopmeny site.
The site is near the Niagara Fallws Convention and CivicCentre that’s undee construction and due to open in April 2011 and less than one-halvf mile from the Hilton and Niagara Fallsview Casinoo Resort. The project will add severall hundred hotel rooms toNiagarwa Falls’ stock of more than 14,000 hotekl rooms. Niagara Falls has the thire most number of hotel rooms in trailing only Torontoand Vancouver.