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Tucked away in the south end of the City of Niagara Falls is a one square kilometre piece of property, removed from the main tourist area. City officials purchased the land along Stanley Avenue in the 1970s and then sold off individual plots of land to businesses in an attempt to encourage new companies to invest in Niagara. While the Industrial Park was hit by the recession, the park has seen a resurgence as of late, as a result of small to medium sized businesses.
The surrounding area
The surrounding land around the Stanley Avenue Industrial Park is primarily undeveloped or consists of partially developed lands. While it is removed from the main tourist area, the area consists of older residential and rural residential, the Thundering Waters Golf Club, and the Welland River. There is a substantial residential development occurring at the site of the Thundering Waters Golf Club. For more information on the development, click here.
Recovering from the recession
While the Stanley Avenue Industrial Park flourished in the 1970s and 80s, the recent recession hit the area hard. By 2009, the Industrial Park no longer resembled what it once was at its peak. However, the park has been experiencing resurgent growth. The park's attractive pricing began attracting new business to the area and by 2012, the occupancy was up to 88%, which was predominately comprised of small to medium businesses.
Diverse uses
Referred to as the Niagara Falls Business Park, the area features predominately light and medium industrial uses. Light industrial uses in the park include: manufacturing, warehouse/distribution, machining, processing, and storage facilities. Industrial complexes in the area range from smaller plants to larger manufacturing and warehouse facilities. Manufacturing currently makes up the majority of number of work done in the park.
Continuing growth into the future
New industrial operations will be created in the area through redevelopment of existing improvements or through new construction. There are some infill lots left for acquisition or development in the park, with development not expected to occur in the near future. The Industrial Park represents a key area for real estate investments in Niagara in the commercial sector. To learn more information, connect with a Niagara real estate appraiser today or download my Industrial Market Report of the Niagara Region.
