NEWS RELEASE
PROVINCE OF ONTARIO
************************
The Ontario government is giving the greenlight to Niagara Parks Commission (NPC) to redevelop the Toronto Power Generating Station (TPGS) into a five-star boutique hotel near the brink of Niagara Falls, which will create good-paying, sustainable jobs and boost local economies in the region. Once complete, the new attraction will accommodate the growing number of tourists visiting Niagara and will include amenities such as indoor and outdoor public viewing areas and a free museum and art gallery.
"This transformative investment to restore and reimagine the Toronto Power Generating Station is welcome news for Niagara," said Sam Oosterhoff, MPP for Niagara West. "The restoration of this historic monument to our region’s legacy of energy innovation is part of our government’s plan to support Niagara as a key tourist destination, not only attracting visitors from coast to coast in North America, but from around the globe."
Funded entirely through a $200 million investment by Society Developments in collaboration with Pearle Hospitality, the redevelopment of the historic hydroelectric power generating station will see the site repurposed – after sitting vacant for 50 years – into Niagara Region’s first and only five-star hotel. The new and multi-faceted visitor attraction will include a theatre and various restaurants, as well as cost-free activities such as a free museum, art gallery and public viewing areas overlooking the Falls.
“Niagara Falls offers a one-of-a-kind opportunity for travellers from around the world and our government believes in its potential as an economic driver for the Niagara Region,” said Stan Cho, Minister of Tourism, Culture and Gaming. “We are proud to support the transformation of the Toronto Power Generating Station into a spectacular hotel that will create a world-class experience for all visitors, helping the region grow as a top-tier international tourist destination.”
The Niagara Parks Commission (NPC), an agency of the Ministry of Tourism, Culture and Gaming, will retain ownership of the property. With the Ontario government’s approval and a lease agreement in place, Pearle Hospitality will become NPC’s newest tenant.
“This is great news for the whole Niagara Region. This project will give the Toronto Power Generating Station a new purpose and identity, while creating new jobs, encouraging tourism sector growth and stimulating the local economy,” said Bob Gale, Chair of the Niagara Parks Commission.
Quick facts
- The Niagara Parks Commission received official approval from the province to enter into a lease to redevelop the Toronto Power Generating Station through an Order-in-Council, signed November 7, 2024.
- Designed by E.J. Lennox in the Beaux-Arts architectural style, TPGS operated from 1906 until it was decommissioned in 1974. It received designation as a national historic site of Canada in 1983.
- Pearle Hospitality, an Ontario-based company, is behind some of the province’s top historic-properties-turned-hospitality venues, including Ancaster Mill in the Niagara Escarpment.
- All requirements of the due diligence phase were completed this fall, including public consultation and the development of a strategic conservation plan.
Quotes
“This project will be transformational for hospitality in Niagara Falls and for the Niagara Region,” said Jim Diodati, Mayor of Niagara Falls. “It will expand and elevate our offering exponentially and will provide a unique and unparalleled opportunity to experience the natural wonder of the falls. Coupled with our culture of service and hospitality, we know we’re about to witness the next steps in our evolution here in Niagara Falls come to life.”
“The redevelopment of Toronto Power embodies the essence of Niagara Parks’ historic mandate as the environmental and cultural stewards of the Niagara River corridor,” said David Adames, CEO of Niagara Parks Commission. “Through private-sector investment, we will preserve a significant piece of Niagara’s history while growing tourism to the region.”
“Our firm was founded with a vision to create landmark, state-of-the-art developments. As we work to redevelop the Toronto Power site, we’re looking forward to applying the best practices we’ve learned through our history of building, redeveloping and operating distinctive and world-class destination properties across Ontario.” – Society Developments/Pearle Hospitality
*************************
