Three Bridges Group's 'Game-Changer' Development Approved by Niagara City Council

Written by Newsfile

Niagara Falls, Ontario--(Newsfile Corp. - August 22, 2022) - Three Bridges Properties(Group) Corp. revealed details of their recently approved development during last night's closing ceremony of the Niagara 2022 Canada Summer Games; thousands of spectators on-site at Queen Victoria Park and online watched as a grand video hinted at what they called the next big global destination.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/8199/134486_a5d345aaa413fb6f_001full.jpg ^[1]

Displayed on 16ft x 9ft video boards, resounding music and visuals of three striking towers, panorama views of the great Niagara Falls, world-class entertainment facilities, and a historic building rolled across the big screens.

VIDEO: https://vimeo.com/741265439 ^[2]

"The future is coming to Niagara" - the video claims, and it is indeed so.

At the August 9th Niagara Falls City Council Meeting, Niagara 2022 Canada Summer Games sponsor Three Bridges Group received unanimous approval for a mixed-used development located at the site of the former Loretto Academy.

The new complex features three towers of 45, 60, and 39 storeys, and a podium of 3-5 storeys. The approved development includes 1030 residential units, 508 hotel rooms, 150,253 sq.ft. of retail and commercial space, 32,927 sq.ft. of restaurant space, and 11,937 sq.ft. of event space. The existing Loretto Academy heritage building will also be restored and integrated into the project via the commercial podium and winter gardens.

"The applicant is committed to preserving and integrating the Loretto Academy into the proposed development, to return this building to its former glory and to enable the public… access [to] this wonderful building again," said Jeremy Tran, a planning consultant of Three Bridges Group.

Another highlight is that the dwelling units are permitted for vacation rental use.

"They want to make that opportunity, as my understanding, available to potential purchasers," explained City Planner, Julie Hannah.

In a report issued to the council prior to the meeting, staff recommended that Council approve the Official Plan and Zoning By-law amendment. The report states that the development is a modification to an approved high-rise development that conforms to Provincial, Regional, and City policies, as it intensifies land within the Built-Up Area, provides compatible tourist employment uses with residential uses, increases opportunities for cross-border tourism within the Gateway Economic Centre Area, and enhances the vitality and viability of the Fallsview Subdistrict.

Councillor Chris Dabrowski also called the development "impressive" and a "game-changer."

"I don't think we have anything like it in the Fallsview area," he said. "It's a triple threat - it has commercial, it has condo development, it has rentable residential and housing. I'm all for it."

The property is located within the Tourist Commercial zoning, and Council had previously approved in 2012 three standalone towers to be built. This new approval, however, modernizes the 2012 design and creates opportunities for indoor attractions to serve and entertain guests.

At the Canada Games closing ceremony, Three Bridges Group's CEO, Dan Zhang, shared that his team worked hard to incorporate feedback into the mixed-use project.

"We listened to the ideas and comments provided - from the city, the region, the public, our neighbors - and did our best to incorporate them into the development," he said. "Everyone is a part of the amazing project we have today."

When asked about the vision behind the project, Zhang responded, "We want to share the beauty of Niagara Falls on the international stage. We are proud to sponsor the Canada Summer Games, and we hope that one day, Niagara can also host the Olympic Games."

"Our goal for this Niagara Falls project is to attract more international guests to Canada, and to generate higher demand for Canadian tourism," concluded Zhang as he gestured towards the Loretto lands. "The future is coming."

Three Bridges Group's Niagara Falls project was chosen to be showcased at the Dubai Expo earlier this year. Canada's theme - The Future in Mind - served as a platform to promote opportunities from across Canada.

"Expo 2020 Dubai has been an excellent springboard to promote Canada as a global leader, an innovator and a dynamic collaborator that has solutions to offer to the world," said Commissioner General of Canada, Marie-Geneviève Mounier. "Visitors from all over the world discovered what we Canadians already know: Canada is an ideal place for education, immigration, business, investment and tourism.''

Media Details:

Company Name: Three Bridges Properties(Group) Corp.Person Name: Arden FlowEmail: Ardenflow@3bridgesgroup.com ^[3]City, Province: Niagara Falls, OntarioCountry: Canada

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/134486 ^[4]

References

^{^} https://images.newsfilecorp.com/files/8199/134486_a5d345aaa413fb6f_001full.jpg (images.newsfilecorp.com)
^{^} https://vimeo.com/741265439 (www.newsfilecorp.com)
^{^} Ardenflow@3bridgesgroup.com (www.newsfilecorp.com)
^{^} https://www.newsfilecorp.com/release/134486 (www.newsfilecorp.com)