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REAL ESTATE INVESTOR BUYING AQUAFALLS SITE

A Buffalo real estate investor is in the process of purchasing the AquaFalls property at 360 Rainbow South Blvd.

Frank R. Parlato Jr. plans to buy one of three mortgages on the property, although the deal has not been finalized, City Administrator Daniel S. Bristol said at Monday's City Council meeting.

The property includes the former Occidental Chemical Center and a 40-foot-deep pit in front of it, dug in 1999 as part of a planned world-class underground aquarium.

Parlato is not willing to comment on his plans for the downtown site until the sale has been confirmed, Bristol said.

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