A Buffalo developer who foreclosed on the former AquaFalls site last month is eyeing the nearly vacant rainbow Center mall across the street from his 9 story glass building. Frank Parlato Jr. said Monday he and longtime entertainment promoter peter bennet are "in discussions" with cordish company to take over the site. David Caldwell, director of development for the Baltimore-based real estate developer that leases the three-story build from the city, confirmed his company has been talking to Parlato" , Cordish has been under pressure recently by municipal officials to turn the nearly vacant site around. "There are few things floating around as to his involvement with the Rainbow Centre," Caldwell said
of Parlato. "There are no set plans. We're working on some new things, including something with Mr. Parlato, but we're not really far enough along with anything to make an announcement." At the city's push, workers finished removing signs from the building on Monday indicating that it still houses a factory outlet mall. Built in 1982, the mall currently houses a restaurant on the first floor and an Off-track Betting parlor. However, the parlor plans to relocate within a few months, Mayor Vince Anello said. The city operates the adjacent parking ramp."We were taking down all the signs that had to do with it being a factory outlet mall, as it is not, So we were trying to limit some of the confusion for tourists" calwell said.

Anello said the signs were causing confusion with tourists who demanded thier money back from the city parking attendants after discovering there were no stores in the building.

Parlato and Bennett, a long-time entertainment promoter who handled The Beatles and Michael Jackson, announced plans on Monday for a year- long concert series to bring shows to the Smokin Joe's Family Fun Center at the former Wintergarden site. If they acqUire the Rainbow Centre site, Parlato envisions putting a flea market in the building "just to wake things up a bit" this year until the area can support additional retail space. "

"Somebody's got to have Idea and then has to do it " Parlato said.

Anello said he is going to be aggressive with what happens with that property,"
he will support efforts to develop the property whether through a private partnership or one with the city. I need that property to be an asset for the tax payers of the city of niagara falls," Anello Said.

Caldwell countered concerns that the real estate company has not actIvely been trying to turn the mall around. "We're the ones that are on the line,': Caldwe11 said. 'the market Is changing, hopefully well be able to do something real soon. "