Saturday, November 23, 2024
The Ontario government has approved the Niagara Parks Commission’s (NPC) proposal to transform the historic Toronto Power Generating Station (TPGS) into a luxury five-star boutique hotel, located at the edge of Niagara Falls. This redevelopment is set to create high-quality, sustainable jobs and drive economic growth in the surrounding area.
Once completed, the hotel will not only cater to the increasing influx of tourists but will also offer a range of public amenities. These include expansive indoor and outdoor viewing areas with stunning views of Niagara Falls, as well as a free museum and art gallery showcasing local culture and history. The project is poised to become a major new attraction, enhancing the region’s appeal as a world-class tourist destination.
“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.”
A $200 million investment from Society Developments, in partnership with Pearle Hospitality, will transform the long-abandoned hydroelectric power generating station into Niagara Region’s first and only five-star hotel. After sitting vacant for five decades, the site will be repurposed into a premier multi-use attraction.
The new development will feature a state-of-the-art theatre, a variety of dining options, and a host of free activities for visitors, including an art gallery, museum, and public viewing areas offering breathtaking views of Niagara Falls. This ambitious project is set to become a major draw for both tourists and locals, adding a unique cultural and hospitality offering to the region.
“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), a division of the Ministry of Tourism, Culture and Gaming, will maintain ownership of the property. Following approval from the Ontario government and the establishment of a lease agreement, Pearle Hospitality will join as NPC’s newest tenant, bringing its vision to life at this iconic site.
“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.
“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
