The Niagara Falls area has been a hot spot this year. Housing starts are trending higher, and now three towers have been announced!
According to the Canada Mortgage and Housing Corporation, housing starts in the Niagara region are on the rise due to relative affordability. Homes in neighbouring towns and cities are generally more expensive than homes in Niagara Falls, so families have been eyeing the picturesque city as a great opportunity to move-up.
And it looks like Vancouver-based developer, 3Bridges Properties, sees a lot of potential in the historic Loretto Academy site at 6880 Stanley Ave. in the Fallsview Tourism District.
3Bridges, family and friends of Loretto Academy, and government officials recently gathered at the site to celebrate the 50th graduation reunion. This is when the project name was unveiled as “Great Falls” and 3Bridges shared some details about the project.
“We are delighted to be able to introduce what will be three distinctive buildings into the Niagara Falls skyline,” says 3Bridges Properties CEO, Dan Zhang.
Great Falls will be a luxury hotel and condo development consisting of three towers. The south tower will rise 32 storeys, the north tower will be 42 storeys, and the central tower will be 57 storeys. This will definitely make a big impact on the city’s growing skyline. The luxury hotel suites will be on the lower levels and the condo residences will be above.
The existing building will be restored and retained, including the beautiful mansard roof and cupola. 3Bridges is still in the process of assembling their ideal team of interior designers and architects, so renderings are not available yet, and there is no start date for construction at the moment.
“Our corporate vision is building three bridges - of diversified cultures in this multicultural city, of economic development in the area, and of friendship and understanding between Asia and North America,” says Zhang. “By honoring Loretto Academy’s past, we pave the way for a bright future for this landmark address.”
Great Falls is 3Bridges’ first project outside of British Columbia, and they expect it to be a huge draw for the world’s Asian population.
“Many in Asia know about Niagara Falls but haven’t visited this ‘Seventh Wonder of the Natural World.’ When completed, our project should attract millions more visitors from Asia and boost local tourism, and create over a thousand employment opportunities for the Greater Niagara Region,” says Zhang. “As property developers, we expect this venture to contribute to the local economy and community.”
We’re eager to see who 3Bridgers partners with on the Great Falls project, and can’t wait to see the first renderings of the three new towers!