Main Street is for everybody

The rebirth of Main Street, Niagara Falls took a huge step forward Thursday with a press conference and open house featuring several properties and introduction of Niagara Development Partners as the chosen entity to build out 100 beds of housing targeting Niagara University students.

Investments mentioned so far, both public and private, total more than $50 million. The two biggest investment commitments so far include $25 million for Niagara University dorms and $18 million for the Jenss Building.

State investment in infrastructure includes $9 million in state Downtown Redevelopment Initiative funding lingering since 2021 and $2.5 million in 2026 state taxpayer funding for roof and facade work on numerous buildings.

NDP’s Abe Bose said his firm’s project should result in dorm rooms being ready in 2029. Plans, pending approval, are for a two-story addition on the back of the building.

Joining him with NDP are Chief Investment Officer Sandy Marks and his wife Kanatsu Yokokawa.

Bose, 54, said he spent most of his development career in New York City. He visited last year and exploded with imagination when he drove down shuttered Main Street. He made a commitment and moved here with his wife around Dec. 1, 2025, learning quickly about our weather.

“It started snowing and it didn't stop for five months” Bose said.

His decision to invest was an offshoot of a childhood visit.

“I came here with my father 40 years ago and I am in awe,” he said. “I have loved it ever since.”

“Seeing the state of not just 2010 and 2018 Main Street, but the other properties as well, damaged by fire, water and years of neglect. It was tough to look at,” he said. “But where others saw blight, we saw and our team saw real potential. We saw historic architecture that just needed capital, vision and some real TLC. I really think this will be a tipping point in revitalization of Niagara Falls.”

As a developer, Bose is realistic. There may be bumps in the road.

“There are always false starts,” he said. “You have to throw stuff on the wall and see what sticks.

“I don’t blame anyone from the past. You have to make an effort. Some efforts don’t go as planned. The only reason people succeed later on is because you see what didn’t work previously.”

The city and the Niagara Falls Urban Renewal Agency acquired 39 parcels on and near Main Street in early 2025. 38 were previously owned by Blue Cardinal Capital, which bought 38 parcels for $3.2 million in 2019 and announced a redevelopment plan that never came to fruition.

Developers Gerald Kelly, James Baptiste, Sam Savarino and Jason Yots are advancing plans to convert the former Jenss Department Store at 1708 Main St. with 33 apartments and a first-floor bazaar, which will feature several small eateries.

The team is finalizing a financing agreement with Community Preservation Corporation⁠, and expects to hear word on state funding relatively soon. It plans to close on the purchase of the building by the end of the year, and is establishing a nonprofit to raise funds for and manage the bazaar.

"It's happening about a year later than we hoped, but about a year earlier than I expected," Yots said.

Yots said the group worked through 5 different financing models. 4 did not work.

“CPC decided to take a chance on us,” Yots said. “The total cost at the moment is $18 million but costs just keep going up.”

The financing package is not a grant but more akin to a bridge loan for construction. It will be included in the state budget in 2027, which is due in April but didn’t pass in 2026 until June.

Yots said when construction is completed, the state loan will be refinanced to a 30-year note.

Baptiste said he signed on to the project by offering in-kind service as an architect. Architect fees on a project of this magnitude could be $400,000 to $500,000. Baptiste said he is proud to earn his share through sweat equity.

He had several drawings available on Friday. In addition to the amenities needed for the apartments planned in the building, Baptiste seemed most excited about the ghost kitchen/bazaar space. 8, 225-square-foot kitchens with storage space, appliances and refrigeration will be available for $1,200 monthly. The target market is smaller businesses starting out.

The front portion of the former Jenss men’s and boy’s store will be a bazaar where some of the tenants may vend food.

Meanwhile, across the street, Chris Ring and Dale Segal were leading tours and discussing their plans for the theatre.

Though initial plans called for a soft opening in November of this year, that is probably a year off. The current focus is on getting a new roof installed before winter, work being undertaken by the city with state funding.

Ring and Segal’s plans include:

1. Installing new flooring.
2. Relocating the bar to the outside walls to create better crowd flow.
3. Building out a commercial kitchen.
4. Installing new sound and lighting.
5. Relocating the green room to an area near the stage. It currently is upstairs behind the balcony.

The Express will continue to offer ongoing coverage on the redevelopment of Main Street as the projects progress.