The developer of a proposed US$150m (€135.6m, £116.4m) waterpark development in Niagara Falls, New York, is eyeing a 2020 completion date for the long-touted project.

A public-private partnership between the Uniland Development Company and the state, the updated Wonderfalls masterplan sees a glass-enclosed waterpark at the heart of a complex surrounded by restaurants and retail to “create a vibrant pedestrian experience”.

“We have spent a lot of time with our consultants creating a unique and special product that is not being offered anywhere in this region,” said Michael Montante, Uniland vice president.

“We are committed to finding the right combination that attracts visitors and gives them more reasons to extend their stay in Niagara Falls.”

State agency USA Niagara selected Uniland for the development, which also includes a hotel tower with 300 bedrooms and is a partial redevelopment of the vacant Rainbow Centre Mall. A separate redevelopment of the Mall will also complement the masterplan, as will the Niagara County Community College Culinary Institute, which will occupy a shared space along First Street and Niagara Street.

"This project fills a couple of different niches," said Niagara Falls mayor, Paul Dyster. "It gives us an attraction that can be marketed 12 months out of the year and it answers the question of what else is there to do in Niagara besides go look at the falls.”

A Uniland spokesperson said following a presentation on the project that the company wanted to complete development “within three years”, though they added the timeline was currently “unpredictable”. Once ground has been broken, the development has been given a two-year timeline. Financing for the project is still being sought.