NIAGARA FALLS, Ont. — The Ontario government is giving the greenlight to Niagara Parks Commission (NPC) to re-develop the Toronto Power Generating Station (TPGS) into a five-star boutique hotel near the brink of Niagara Falls, Ont., which will create good-paying, sustainable jobs and boost local economies in the region. Once complete, the hotel will accommodate the growing number of tourists 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 re-imagine the Toronto Power Generating Station is welcome news for Niagara,” says 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 re-development of the hydro-electric power generating station will see the site re-purposed — after sitting vacant for 50 years — into Niagara region’s first and only five-star hotel. It will include a theatre and various restaurants.
The NPC 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.
“The re-development of Toronto Power embodies the essence of Niagara Parks’ historic mandate as the environment and cultural stewards of the Niagara River corridor,” says David Adames, CEO of NPC. “Through private-sector investment, we will preserve a significant piece of Niagara’s history while growing tourism in the region.”
