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image owned by Niagara Parks Commission
Fort Erie is surrounded by both the Niagara River and Lake Erie allowing the Town a significant amount of prime waterfront land. The land along the Niagara River/Niagara Parkway running through to Niagara Falls is owned by the Niagara Parks Commission, while the land along Lake Erie is held by both private and public interests. In total, along both beds of water, the Town boasts over 42 kilometers of waterfront land. While parts of the Towns waterfront lands have been built up with commercial and residential developments, there remains significant potential for further development. In the past decade a number of major private developments have been proposed, approved and ultimately terminated along Fort Erie’s waterfront lands.
Miller Creek Marina
The Miller Creek Marina may still come to life, once the Niagara Parks Commission has completed their own market study, but at this time plans for a $120 million transformation are on hold. In 2006, in order to find a solution for a $40,000 annual loss at the marina, the NCP along with the Town of Fort Erie and it's Economic Corporation put out an RFP for redevelopment of the waterfront agencies. The RFP was answered with a $120 million commercial and residential plan by Warren DAC/Sentex Developments. An internal audit at the NCP in 2012 however, found that the RFP process did not meet policy and the development was immediately put on pause. The marina is in need of total revitalization and with 45 acres of flat land laying adjacent their is significant development potential on this waterfront property. Before any commercial development can go to tender for the site, the NCP must complete their own environmental and market demand study in order to determine the full potential of both the marina and surrounding lands.
The marina holds a storied history in Fort Erie, before it's purchase by the NCP in 1957 the land was used as a ship building and repair lot, a metal foundry and a fabrication factory. In the NCP's hands, the 136 slip marina was developed and eventually began to operate at a significant loss.
Bay Beach Condo Project
The Bay Beach condo project was a polarizing development in the Crystal Beach area, set to be built on Town owned, former Crystal Beach resort lands. The proposed 12 storey-87 unit condo project designed by Burlington based developers was touted as a revitalization project for the tourism community which had fallen on hard times when the Crystal beach amusement park pulled out of the area in 1989. New development and new residents for the area would have translated into an increased need for commercial amenities, which could have further transformed the small town. The project officially came to end on January 1, 2014 when the developer pulled out. This project would have seen over $3 million in improvements to the surrounding beach community and Town lands.
New Development in Fort Erie
The most well known development set for construction in Fort Erie is the $400 million Canadian Motor Speedway, the Town's council is also still in support of development at the marina. Residential developments including, Harbourtown at Erie Beach, have recently been successful in getting their waterfront development launched (with units sold) in the Town. By focusing on getting the two above major projects off the ground, Fort Erie will showcase itself as a Town open for business; attracting more potential investors for development.
For more information on waterfront developments in Niagara click here and to learn the value of your waterfront land connect with a Niagara real estate appraiser today.
