Hamister May Need More Taxpayer Money to Revive Failed Project

hamister (1)

Mark Hamister needs millions from taxpayers to pay for his hotel.

According to informed sources in the Buffalo development community, Mark Hamister is about $6 million short of the mark in financing for his much-hyped $35.7 million Niagara Falls hotel project on Rainbow Blvd. that was trumpeted by state and local officials more than three years ago as the city’s best hope to revive downtown.

State and local officials only talk about the long-delayed project in short clips, hinting something may happen soon.  Nothing has, and there’s no sign of development activity at the prime parcel at 310 Rainbow Blvd.  Now, according to our sources, Hamister is looking for more state help in the already heavily taxpayer subsidized project for the $6 million he needs to close the deal, money that in fact would amount to his own investment in the project which he apparently doesn’t have available.  Sources suggest part of the problem is the $35.7 million he wants to finance for a Hyatt Place many see as a $19 million project.

hamister

A coming soon sign adorns the site where the Hamister hotel is to be built.

The Hamister hotel story is shrouded in secrecy with none of the key parties, including Hamister, willing to talk about why the project is so far behind schedule that Canadian developer Michael DiCienzo has called for the city and state to void the deal and award development rights to his company, Niagara Falls New York Hotel Management, LLC, so that work could begin soon.

But despite the nearly four-year delay and no sign of anything happening on the Hamister front, state and local officials cling stubbornly to the politically-connected Hamister who was awarded the development rights in a secretive RFP process that required bidders to have the financial resources to complete the deal.  Somehow, Hamister won the rights despite the fact he obviously did not have the financing in place while others, who may have been ready to move forward, were passed over.

Mount_Sinai Hamister

Artist’s conception: The Hamister hotel – shown atop Mt Sinai – was said – when it was first announced – to be the salvation of Niagara Falls – the literal tipping point development.

As I reported last month, DiCienzo, the Canadian developer with a string of successes on both sides of the border, called the failure of the Hamister project “a complete joke,” and Niagara Falls Council Chairman Andrew Touma also expressed frustration, saying the lack of progress “is very disappointing.”  But nothing changes and the Niagara County Industrial Development Agency (IDA) added to the “:joke” last month by granting Hamister a six-month extension on the $4.25 million in tax breaks even after the Hamister group told the IDA that it has yet to arrange financing.  The state has committed a $3.9 million grant (taxpayer money) to the Hamister Group, but despite all the public help, the project remains in limbo.

DiCienzo, whose family has reportedly spent $800 million on development on the Canadian side and is now heavily invested on the U. S. side, upgrading the Holiday Inn to a Sheraton ($34 million), says he’s ready to go to work on the Rainbow Blvd. site if the city tosses Hamister and gives him the green light.  And he’s not alone.  A Buffalo developer, speaking on the condition of anonymity, tells me that he knows of a group of investors ready to pony up $30 million in private money to develop the prime Niagara Falls project if the opportunity presents itself.

It all begs the question of what’s more important:  holding on to the Hamister deal that so far as been an embarrassing disaster for its backers, or pulling the plug and finding developers who are ready to put a shovel into the ground and give downtown Niagara Falls a real development boost, maybe something more than a business hotel.

It is all reminiscent of the Hamister folly of 1992 when he and his partner were going to save the bankrupt Buffalo Sabres for the city by buying the team, only to back out when they couldn’t secure the public money they needed to complete the deal.  Here we are again, 24 years later, with Hamister apparently not willing or able to put any of his own money into the Niagara Falls project and going hat in hand to the state for more taxpayer money.  When will somebody finally blow the whistle on the failed project and turn it over to a developer who actually has the resources to do something at the prime site, something more than put up a sign that something is in the wind.

77 Comments

  1. Kick the bum out and open it up to real developers!

  2. We’re a group of volunteers and starting a new
    scheme in our community. Your web site offered us with useful info to work on. You’ve performed an impressive activity and our entire neighborhood
    will probably be grateful to you.

  3. Hello i am kavin, its my first time to commenting anyplace, when i
    read this piece of writing i thought i could
    also make comment due to this good paragraph.

  4. thank you for a really fascinating read, i hope you would do a follow up article considering i can never go through enough on this topic

  5. I’m not certain where you’re getting your info, but good
    topic. I needs to spend a while studying more or figuring out more.
    Thank you for fantastic information I was in search of this info for my mission.

  6. Hello! I just wanted to ask if you ever have any trouble
    with hackers? My last blog (wordpress) was hacked and I ended up losing months of hard work due to no backup.

    Do you have any solutions to stop hackers?

  7. Hiya! I know this is kinda off topic but I’d figured I’d ask.
    Would you be interested in exchanging links or maybe guest authoring
    a blog post or vice-versa? My blog goes over a lot of the same
    subjects as yours and I think we could greatly benefit from each other.
    If you might be interested feel free to shoot me an email.
    I look forward to hearing from you! Superb blog by the way!

  8. There is certainly a great deal to find out about this issue.
    I love all the points you’ve made.

  9. I will right away seize your rss as I can not in finding your email subscription hyperlink
    or e-newsletter service. Do you have any? Kindly permit me realize in order
    that I may just subscribe. Thanks.

  10. Thanks for making the honest attempt to discuss this. I feel very strong approximately it and wish to read more. If it’s OK, as you acquire more in depth knowledge, may you thoughts adding extra articles similar to this one with additional information? It could be extraordinarily useful and useful for me and my friends.

  11. You can certainly see your skills in the article you write.
    The sector hopes for more passionate writers such as you who are not afraid to mention how they believe.
    All the time follow your heart.

  12. Heya are using WordPress for your blog platform? I’m new to the blog world
    but I’m trying to get started and set up my own. Do you need any coding expertise to make your own blog?

    Any help would be really appreciated!

  13. Have you ever thought about publishing an ebook or guest authoring on other websites?
    I have a blog based upon on the same subjects you discuss and would really like to
    have you share some stories/information. I know my
    viewers would appreciate your work. If you’re even remotely interested, feel free to shoot me an email.

  14. Thanks for sharing your thoughts about all these things that ive done.
    Regards

  15. Hello just wanted to give you a brief heads up and let
    you know a few of the images aren’t loading properly.
    I’m not sure why but I think its a linking issue.
    I’ve tried it in two different browsers and
    both show the same results.

  16. i love cougars that’s why i love to watch Desperate Housewives and also Cougar Town*

  17. Greetings! Very helpful advice in this particular post!

    It is the little changes that will make the largest changes.
    Many thanks for sharing!

  18. Great post. I was checking continuously this blog and I am impressed!
    Very useful info specially the last part 🙂 I care for such information much.

    I was seeking this certain info for a long time. Thank you and best of luck.

  19. A person essentially lend a hand to make significantly articles I might state. That is the very first time I frequented your website page and up to now? I amazed with the research you made to create this particular publish incredible. Great activity!

  20. I do not even know how I ended up here, but I thought this post was good.
    I don’t know who you are but certainly you’re going to a famous blogger if you
    aren’t already 😉 Cheers!

  21. Hi there, i read your blog occasionally and i own a similar one and i was just wondering if you get a lot of spam remarks?
    If so how do you protect against it, any plugin or anything you can suggest?
    I get so much lately it’s driving me mad so any support is very much appreciated.

  22. I all the time used to read piece of writing in news papers but now as I
    am a user of internet so from now I am using net for articles, thanks
    to web.

  23. Asking questions are actually nice thing if you are not understanding anything completely, however this piece of writing
    offers nice understanding yet.

  24. Hi, i think that i saw you visited my blog so i came to
    “return the favor”.I’m attempting to find things to improve my site!I suppose its ok to use some of your ideas!!

  25. My relatives always say that I am killing my time here at net, however I know I am getting
    know-how all the time by reading such nice
    posts.

  26. I love your blog.. very nice colors & theme. Did you design this website yourself or did you hire someone to do it for you?

    Plz respond as I’m looking to design my own blog and would like to know where
    u got this from. many thanks

  27. Please let me know if you’re looking for a writer for your site.
    You have some really great articles and I think I would be a good asset.

    If you ever want to take some of the load off, I’d love to write
    some articles for your blog in exchange for a link back
    to mine. Please blast me an e-mail if interested. Kudos!

  28. Whoa! This blog looks exactly like my old one!
    It’s on a completely different subject but it has pretty much the same layout and design.
    Outstanding choice of colors!

  29. great submit, very informative. I’m wondering why the
    other specialists of this sector don’t realize this.
    You should proceed your writing. I am sure, you have a huge readers’ base already!

  30. I don’t even understand how I stopped up here, but I assumed this submit used
    to be good. I do not realize who you’re but definitely you’re going to a
    well-known blogger when you aren’t already. Cheers!

  31. Your means of describing the whole thing in this piece of writing is in fact nice, every one can effortlessly know it, Thanks
    a lot.

  32. Wow, fantastic blog layout! How long have you been blogging for?
    you made blogging look easy. The overall look of your web site
    is fantastic, as well as the content!

  33. Thank you for sharing your info. I really appreciate your efforts and I am waiting for your next write ups thanks once
    again.

  34. It’s appropriate time to make some plans for the future and it is time to be happy.

    I’ve read this post and if I could I wish to suggest you some
    interesting things or advice. Perhaps you can write next articles referring to this article.
    I wish to read even more things about it!

  35. Howdy just wanted to give you a brief heads up and
    let you know a few of the pictures aren’t loading properly.
    I’m not sure why but I think its a linking issue. I’ve tried it in two different web
    browsers and both show the same outcome.

  36. Quality articles is the crucial to interest the visitors to
    go to see the web page, that’s what this web
    site is providing.

  37. If some one wants expert view about blogging and site-building afterward i propose him/her to pay a
    quick visit this webpage, Keep up the fastidious job.

  38. I do not even know how I ended up here, but I thought this post was good.
    I do not know who you are but certainly you are going to
    a famous blogger if you aren’t already 😉 Cheers!

  39. Thanks very interesting blog!

  40. Hurrah, that’s what I was seeking for, what a data!

    present here at this webpage, thanks admin of this web page.

  41. Thanks designed for sharing such a fastidious thinking, paragraph is nice, thats why i have read it entirely

  42. Wow! This blog looks just like my old one! It’s on a completely different subject but
    it has pretty much the same layout and design. Great
    choice of colors!

  43. My spouse and I absolutely love your blog and find almost all of your post’s to be exactly I’m looking for.
    Does one offer guest writers to write content
    to suit your needs? I wouldn’t mind composing a post
    or elaborating on a lot of the subjects you write related to here.
    Again, awesome web site!

  44. Buy Plavix In Mexico [url=http://cialtobuy.com ]cheap cialis[/url] Discount Shipped Ups Macrobid Visa Accepted
    Kamagra Oral Jelly Canada
    Nemazole Without Prescription cialis online Clarithromycin Omeprazole Amoxil

  45. I appreciate, lead to I found exactly what I used to be having a look for.
    You have ended my four day lengthy hunt! God Bless
    you man. Have a great day. Bye

  46. Hi my family member! I wish to say that this post is awesome,
    nice written and come with approximately all important infos.
    I’d like to see more posts like this .

  47. I’ve been exploring for a bit for any high quality articles or blog posts in this kind of house .
    Exploring in Yahoo I ultimately stumbled upon this website.
    Reading this information So i’m glad to express that I have an incredibly just right uncanny feeling I
    came upon exactly what I needed. I such a lot unquestionably
    will make certain to do not overlook this website and provides it a glance regularly.

  48. Hello, I would like to subscribe for this blog to take most recent updates, thus where can i do it please help out.

  49. Generally I don’t read article on blogs, but I wish to say that this write-up very forced me to check
    out and do it! Your writing style has been amazed me.
    Thank you, quite great article.

  50. Valuable info. Lucky me I discovered your website by chance, and I’m
    surprised why this coincidence did not happened in advance!
    I bookmarked it.

  51. Wonderful work! That is the type of info that are supposed to be shared
    across the internet. Shame on the seek engines for
    now not positioning this put up upper! Come on over and seek advice from my web site .
    Thanks =)

  52. I’ve been browsing online more than three hours today, yet I never found any interesting article like yours.
    It’s pretty worth enough for me. In my view, if all webmasters and bloggers made good content as you did,
    the net will be a lot more useful than ever before.

  53. This design is spectacular! You certainly know how
    to keep a reader amused. Between your wit and your videos, I was almost
    moved to start my own blog (well, almost…HaHa!) Great job.
    I really enjoyed what you had to say, and more than that, how you presented it.
    Too cool!

  54. hey there and thank you for your info – I’ve certainly picked up anything new from right here.
    I did however expertise a few technical points using this web site,
    as I experienced to reload the site many times previous to I
    could get it to load properly. I had been wondering if your hosting is OK?

    Not that I am complaining, but slow loading instances times will very frequently affect your placement in google and could damage your
    quality score if ads and marketing with Adwords. Well I’m adding this
    RSS to my e-mail and can look out for much more of your respective fascinating content.
    Make sure you update this again soon.

  55. Hello! This is kind of off topic but I need some guidance from an established blog.

    Is it very hard to set up your own blog? I’m not very techincal but
    I can figure things out pretty fast. I’m thinking about
    setting up my own but I’m not sure where to start.

    Do you have any ideas or suggestions? With thanks

  56. What’s up, after reading this awesome post i am also glad to
    share my familiarity here with friends.

  57. It is actually a nice and useful piece of info. I’m satisfied that you simply shared this helpful information with us.

    Please stay us informed like this. Thank you for sharing.

  58. Mre3x1 You made some good points there. I did a search on the subject matter and found most persons will approve with your website.

  59. You are so awesome! I do not think I’ve truly read anything like this before.
    So nice to find someone with original thoughts on this subject.
    Seriously.. thank you for starting this up. This web site is one thing that is required on the internet, someone with
    some originality!

  60. I have learn a few excellent stuff here. Certainly worth bookmarking for revisiting.
    I surprise how so much attempt you set to make the sort of fantastic informative web site.

  61. With havin so much written content do you ever run into any problems of plagorism or copyright violation?
    My website has a lot of completely unique content I’ve either authored myself or outsourced but
    it seems a lot of it is popping it up all over the
    internet without my permission. Do you know any solutions to help prevent
    content from being ripped off? I’d genuinely appreciate it.

  62. I have fun with, cause I found just what I used to be taking a look for.
    You have ended my four day lengthy hunt! God Bless you man. Have
    a great day. Bye

  63. Today, I went to the beach with my children. I found a sea shell and gave it to my 4 year old daughter
    and said “You can hear the ocean if you put this to your ear.” She put the shell to her ear and
    screamed. There was a hermit crab inside and it pinched her ear.
    She never wants to go back! LoL I know this is totally off
    topic but I had to tell someone!

  64. Wow! Finally I got a blog from where I be able to in fact obtain helpful data regarding my study and knowledge.

  65. Can you tell us more about this? I’d want to find out more details.

  66. I all the time used to read article in news papers but now as I am a user of internet so from now I am using net for posts, thanks to
    web.

  67. Having read this I thought it was really enlightening.
    I appreciate you taking the time and effort to put this informative
    article together. I once again find myself personally spending a significant amount of time both
    reading and posting comments. But so what, it was still worthwhile!

  68. Levitra 10 Mg Comprar Super Generac Viagra [url=http://costofcial.com ]online pharmacy[/url] Buy Cialis With No Prescription

  69. Cephalexin For Veternarian Use [url=http://cialgeneri.com ]buy cialis[/url] Priligy Company

  70. Heya i’m for the first time here. I came across this board and I find It truly useful & it helped me out much.
    I hope to give something back and aid others like you aided me.

  71. I have been browsing online more than three hours nowadays, but I by no means found any
    attention-grabbing article like yours. It’s pretty value
    enough for me. In my opinion, if all web owners and bloggers
    made good content as you probably did, the net will probably
    be a lot more useful than ever before.

  72. Very descriptive article, I liked that a lot.
    Will there be a part 2?

  73. It’s appropriate time to make some plans for the future and it is time
    to be happy. I’ve read this post and if I could I desire to suggest you
    few interesting things or advice. Perhaps you can write next articles referring to this article.
    I want to read more things about it!

  74. Very nice post. I simply stumbled upon your blog
    and wanted to mention that I have really enjoyed
    browsing your blog posts. After all I’ll be subscribing on your feed and I
    am hoping you write again very soon!

  75. Attractive section of content. I just stumbled upon your website and in accession capital
    to assert that I get actually enjoyed account your blog posts.

    Any way I will be subscribing to your feeds and even I
    achievement you access consistently rapidly.

  76. Swollen Glands And Amoxicillin [url=http://bestviaonline.com]viagra[/url] Generic Propecia Successful Cialis E Viagra Effetti Collaterali Price For Cephalexin

  77. Viagra Soll Billiger Werden Fedex Shipping Isotretinoin Tablets Low Price [url=http://orderviapills.com]viagra[/url] Comment Obtenir Du Viagra Gratuitement Viagra Migliore

Leave a Reply

Your email address will not be published. Required fields are marked *

*

FOLLOW US ON FACEBOOK

https://www.facebook.com/NiagaraReporter/
 
Scroll Up.wpzoom (color:black;}