There is a new hotel being built above the Falls. We’re not sure which one it is. It is behind the My Cousin Vinnie’s restaurant, beyond all the big highrises above the Falls.
Updated 5:07 pm:
Regular visitor and commenter D said that the new hotel is a Crowne Plaza. The City has some nice photos of the construction from the beginning as well as some renderings of what it will look like. I’ve included a smaller version of one of the renderings below: