For years... possibly 40 years elected officials of Niagara Falls have hoped for an outside national developer to come in and bring their book of business or their expertise and change Niagara Falls from blight to prosperity. Well established developers as David Cordish, Howard Milstein, and many before them have come here, invested and while they have succeeded in other parts of the country they have done little to nothing to bring similar success to Niagara Falls.
What is it that these seemingly smart and successful people can not over come when they come here and why did they come here in the first place? You would think that they aren't happy with the results of their investments in Niagara Falls. It's hard to imagine that Mr. Milstein is satisfied with his investment. I was recently told that he has invested well over $30,000,000 here, and to the best of my observation nothing that is owned by his local firm Niagara Redevelopment Corporation has an income stream or is yielding any sort of cash flow.
Many people I speak to believe the investors i mention in this blog are only in it for a write off against their other profitable projects in other parts of the country. I don't see it that way, could it be? Possibly but not likely. Most successful business people i speak to strive for success in every venture they pursue, why would it be different here?
It is true that these developers who are very, very successful in other parts of the country do have relationships with the large chain restaurants, retail stores and attractions. However that doesn't mean they will come to Niagara Falls, USA. These chain stores have very specific financial models they need to follow, they may also be public companies and have stock holders to answer to. The bottom line they are in it to make a profit and Niagara Falls, USA does not equal a profit for them at this time, at least the downtown of Niagara Falls.
Do i believe the Cordishes and Milsteins of the world can play a role in the turn around of Niagara Falls? I do, but not until our elected officials do their homework and pay attention to what demographics a city needs to attract the national chains these type of developers can bring. Spending time, money and resources on a project such as the Hope 6 development that is underway certainly is not the answer.
Someone correct me if I'm wrong but i don't believe a Dave and Buster's target customer is someone on public assistance, if it was they would have located here instead of Williamsville, NY.
By recruiting more impoverished people to Niagara Falls certainly won't solve our problems of poverty.
I suggest we look primarily to local businesses to grow our business foundation and we look to develop gated communities in the downtown, homes in the $100,000 plus range that will attract wealthier individuals or couples, not necessarily families (our school need work). These people may purchase as a second home, or summer home. They may work within an hours drive or have businesses in other parts of the state or country.
If our elected officials really do want to make Niagara Falls, USA a great city they need to reach higher, not into the pits of poverty.
"focus on what you want to happen"
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