Empire State Development news and press releases

$42 Million Project will Transform Property into Upscale Hotel - Renderings Here Governor Andrew M. Cuomo today announced Brine Wells Development LLC has been chosen as the developer for the restoration of the historic Hotel Niagara in downtown Niagara Falls, New York. The Hotel Niagara is the oldest standing hotel in Niagara Falls and retains much of the architectural integrity that once made it an iconic piece of the city's skyline. The approximately $42 million project will utilize historic preservation tax credits to transform the property into a full-service, 130-room upscale hotel with restaurants, lounges and banquet facilities. The USA Niagara Development Corporation, a subsidiary of Empire State Development, officially selected Brine Wells Development at its Board of Directors meeting this morning. The property is expected to re-open in spring 2019. Renderings are available here. "Our strategic investments, from parks to infrastructure to the hotel and hospitality industry, are reinvigorating tourism in Niagara Falls, and the return of the Hotel Niagara is the crown jewel of this revival," Governor Cuomo said. "Across the state, we are driving regional economic growth by investing in the unique strengths of each community, and today we continue to move Western New York forward." Read the full press release here.