Projects Update

Elite Developments is excited to announce a new project in our portfolio – 4500 Park Street. We recently partnered with the City of Niagara Falls on the groundbreaking of Park Street, a project that reflects Elite Developments’ core pillars of partnership, collaboration, and building with purpose.

Together, we are bringing a 360-unit community to life, with 20% dedicated to affordable and attainable housing, revitalizing downtown, supporting local businesses, and creating meaningful housing solutions.

We extend our sincere appreciation to Mayor Jim Diodati and the City of Niagara team for their trust and collaboration.

The Park Street project has progressed efficiently through several key approval stages, with strong momentum across planning and permitting. The first cycle of the Site Plan Application was submitted on October 10^th, 2025, followed by the receipt of municipal comments on November 4^th, 2025. These comments were addressed promptly, allowing the second Site Plan submission to be completed on November 28^th, 2025.

City of Niagara Falls staff have since confirmed that all Site Plan comments were satisfactorily resolved and, on December 9^th, 2025, initiated preparation of the Site Plan Agreement. With confirmation on the Site Plan drawings in hand, the consultant team has commenced preparation of the Building Permit drawings.

In parallel, a public meeting for the Official Plan Amendment and Zoning By-law Amendment was held on December 9, 2025, where both applications received unanimous Council support. The Notice of Adoption for the Official Plan Amendment and the passing of the Zoning By-law were issued on December 12^th , 2025. The appeal period expires on December 31, 2025, and, assuming no appeals are filed, the Notice of Decision is expected shortly thereafter.

Overall, the project is well positioned to transition into the permitting phase in early 2026, supported by completed planning approvals and coordinated consultant progress.

Our hope is that the 4500 Park Street partnership serves as a flagship example and model for other municipalities to follow, showcasing what’s possible when public and private sectors unite around a shared vision and common goal.

We thank the City of Niagara for their support. Together, we are building more than homes; we are building momentum, opportunity, and a stronger future for Niagara.

Upcoming Milestones:

Foundation Building Permit Submission: Q1 2026
Full Building Permit Submission: Q2 2026

Timelines:

Official Plan Amendment: Q1 2026
Zoning By-law Amendment: Q1 2026
Draft Plan of Subdivision Conditional Approval: N/A
Draft Plan of Subdivision Approval: N/A
Site Plan Approval: Q1 2026
Building Permit Issued: Q2 2026

See more from our groundbreaking here:
https://www.linkedin.com/feed/update/urn:li:activity:7401278996027486209
https://www.linkedin.com/feed/update/urn:li:activity:7401279847148310528
https://www.linkedin.com/feed/update/urn:li:activity:7401642329218121728

All projected timelines are indicative and reflect current market conditions and planning assumptions. As with any development project, these estimates remain subject to change due to evolving regulatory, market, and construction environments. Accordingly, dates should be considered as targets rather than definitive deadlines.