From significant neighbourhood milestones to expanding tourism opportunities, there were many investment wins in Niagara over the course of 2015. While news of developments like the FirstOntario Performing Arts Centre hit every news source including the Globe and Mail, there are a number of developments that perhaps may not have received as much press but, illustrate the significant investment appeal of Niagara.
Below are the Niagara investment wins that you may have missed this year.
Saks Off Fifth - Outlet Collection at Niagara
The announcement and subsequent construction of a 32,500 sq. ft. Saks Off Fifth retail space in the Outlet Collection at Niagara shows the strength and appeal of the year-old mall.
Fort Erie Race Track Development (Horse Racing)
A $284 million investment that, once realized, will encompass a hotel/waterpark facility, a 100,000 sq. ft. retail space, an apartment complex, RV park, and two industrial projects. The project will be located on the 338 acres of land adjacent to the Fort Erie Race Track.
Thundering Waters Secondary Plan
Early November saw a $100 million investment in Niagara Falls' Thundering Waters Secondary Plan area. The 400 acre community will cost close to $1 billion to realize and will see the development of a “city within a city.”
Expansion of Brock University’s Goodman School of Business
Brock University has been collecting investments for a $22-million expansion of the Goodman School of Business; major investments include the Province at $10 million, BMO at $500,000 and the Goodman family. The expansion will allow Brock to further solidify its presence as a growing Canadian business school.
Ikea at the Fairview Mall
In August, it was announced that Ikea would be opening up a Pick-Up and Order Point store in the Fairview Mall in St. Catharines. The investment will spur 35 new jobs and will place an anchor tenant in the former Future Shop location.
Niagara College’s Walker Advanced Manufacturing Innovation Centre
This 15,000 sq. ft. facility will function as an applied research facility for advanced manufacturing and innovation projects at Niagara College. Designed by Tillmann Ruth Robinson architects, the building received a $4.2 million Province of Ontario investment as well as a $1.2 million donation from Walker Industries Holdings Limited. Niagara College is currently undergoing a $55-million Capital Vision expansion project.
Atlantic Biodiesel
This Welland based biodiesel production facility was purchased by Luxembourg based Heridge S.a.R.L. in early 2015. The facility, which previously operated as Great Lakes Biodiesel, was worth a reported $50 million. In October of this year, it was reported that the company was looking at expanding, and is considering the former John Deere property in Welland.
East Fonthill Secondary Plan
Ground broke at the East Fonthill Secondary Plan site in November 2014 with Rinaldi Homes' Rosewood Estates, featuring 55 detached homes. Additional commercial development began in 2015 on the 450 acre Secondary Plan area with a new 80,000 sq. ft. neighbourhood shopping centre, anchored by Food Basics, Dollarama, and Tim Hortons.
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