USAN, City of Niagara Falls: First project funded by Niagara Falls Small Business Property Improvement Grant program completed

Over $500,000 in grants awarded to date

USA Niagara Development Corp. Press Release & Photo

USA Niagara Development Corp. and the City of Niagara Falls announced the first project funded by the Niagara Falls Small Business Property Improvement Grant program (NFSBPIP) is now complete – and more than $500,000 in grants have been awarded to date.

The $5 million program, announced by Gov. Kathy Hochul in November 2023, provides grants of up to 50% of total eligible costs, up to $100,000 per property, to eligible small businesses to foster revitalization of traditional mixed-use business districts. It is funded by the Regional Revitalization Partnership (RRP), a multiyear, $300 million collaborative initiative between New York state’s Empire State Development (the parent entity of USA Niagara Development Corp.), local municipalities and private philanthropic partners.

In July 2025, 324 Niagara Street Tenant LLC received the first grant funded by NFSBPIP to support a new retail business in Niagara Falls. The NFSBPIP provided $39,681 toward the build-out of a tenant space, at 324 Niagara St., for a skincare business, contributing to the activation of the Niagara Street commercial corridor and the city’s downtown as a whole. 324 Niagara St. is part of the historic Tugby-Lennon block at 320-324 Niagara St., which consists of three attached historic structures that were restored and redeveloped in 2022 to create 4,177 square-feet of first-floor commercial space below apartments on the buildings’ second and third floors. As a result of the grant from the NFSBPIP, all three commercial spaces at Tugby-Lennon are now occupied; SkinCare Essentials by Jill is the first occupant of the commercial space at 324 Niagara.

USAN President Anthony Vilardo said, “Gov. Hochul’s goal with the launch of the Niagara Falls Small Business Property Improvement program has always been to reactivate Niagara Falls as a vibrant, pedestrian-friendly city for both residents and visitors. With our first project funded by this grant program complete at 324 Niagara St. – a building that is among the few surviving structures of the dense, mixed-use commercial-residential environment that once characterized Niagara Street – and with $500,000 in additional projects in the pipeline, we are taking the first steps to make that vision a reality.”

Niagara Falls Mayor Robert Restaino said, “We are proud to be a partner with New York state and others to provide resources to small businesses developing in our city. The NFSBPIP is one of many programs the city has opened for business growth and development. We congratulate Savarino Companies for their continued commitment to developing small businesses in our city.”

Savarino Companies President Sam Savarino said, “We are grateful that our Tugby-Lennon historic restoration project has received NFSBPIP funding to complement our own efforts in establishing street-front commercial tenancies. We are also pleased to see the efforts of USA Niagara, Mayor Restaino and the NFC Development Corp. to support and assist further activity and commercial development in downtown Niagara Falls. We are looking forward to the opportunity for further historic restoration and development opportunities in Niagara Falls.”

KeyBank Buffalo Market President Michael McMahon said, “KeyBank is committed to helping communities thrive by supporting small businesses and investing in neighborhood revitalization. The completion of the first project through the Niagara Falls Small Business Property Improvement Grant program is a powerful example of how public-private partnerships like the Regional Revitalization Partnership can drive lasting impact. We’re proud to be part of this collaborative effort that strengthens local economies, creates vibrant commercial corridors and builds a brighter future for Niagara Falls.”

To date, the NFSBPIP has awarded over $500,000 in grant funding to seven projects on Pine Avenue, Main Street, and downtown Niagara Falls that total over $1.1 million in total project costs. The $5 million program provides grants of up to 50% of total project costs, up to $100,000 per property, to eligible small businesses to foster revitalization of traditional mixed-use business districts. The funds to small business and property owners can be used for commercial improvements such as façade restoration and other mixed-use building upgrades. Eligibility is based, in part, on whether a business is located within the designated program district. For additional guidelines or to learn more about how to submit an application, visit the NFC Development Corp. website. The program is funded through the Regional Revitalization Partnership, a $300 million private and public regional co-investment in three interconnected geographic areas: Buffalo, Niagara Falls and Rochester.

Business and property owners who are interested in the program can book office hours with the NFSBPIP administrative consultant, Heike Jacob, from Highland Planning, at https://tinyurl.com/heikejacob, or call her at 585-649-1600.

The total state investment for this program is $3 million, with philanthropic and corporate entities committing to contribute the remaining $2 million toward the total funding amount, to be used for both capital grants and operational support of NFC.

More about USA Niagara Development Corp.: USAN, a subsidiary of ESD, is solely dedicated to the support and promotion of economic development initiatives in Niagara Falls by leveraging private investment and encouraging growth and renewal of the tourism industry in the city. More information is available here.

About NFC Development Corp.: NFC is a not-for-profit corporation created by the City of Niagara Falls to provide programs relieving and reducing unemployment; bettering and maintaining job opportunities; providing aid to attract new business or retain business and industry; assisting/providing aid to small business concerns; receiving grants/loans for the purpose of assisting and aiding small businesses; and entering into necessary covenants, loans and agreements with small businesses, all to stimulate economic development in Niagara Falls.

More about the Regional Revitalization Partnership: The Regional Revitalization Partnership is a $300 million, comprehensive economic development strategy and public-private partnership that maximizes impact and leverages additional investment for Buffalo’s East Side, Niagara Falls and Rochester. This community-driven, collaborative strategy takes a holistic approach to economic development and is designed to build community wealth through multiple paths. The RRP was developed in collaboration with Kathy Hochul and ESD, and is supported by ESL, Max and Marian Farash Charitable Foundation, Five Star Bank, KeyBank/First Niagara Foundation, William & Sheila Konar Foundation, M&T Bank, NBT Bank, John R. Oishei Foundation, Ralph C. Wilson, Jr. Foundation, and partners in the cities of Buffalo, Niagara Falls and Rochester. RRP program implementation is led by the Center for Regional Strategies.