Out with the old and in with the new! This National Historic Site that was once a hydropower station in Niagara will undergo an over $200 million upgrade, transforming the building into a world-class destination including a five-star hotel, spa, and brewery.
After a three-stage public procurement process, Niagara Parks announced it will go forward to restore and redevelop the Toronto Power Generating Station, with Pearle Hospitality.
The proposal submitted by the group includes a “transformational private sector investment of over $200 million,” that will transform the site and give it a new purpose. In turn, it would create Niagara Falls’ first and only five-star boutique accommodation, among several other amenities.
“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,” said Brian McMullan, Director of Business Development and Spokesperson for Pearle Hospitality.
“Niagara Falls is already an iconic destination. Our vision for this project will let visitors enjoy the Falls experience in exactly the type of breathtaking hospitality venue that one of Canada’s foremost natural wonders deserves.”
Elora Mill Hotel and Spa, the Cambridge Mill, and the Ancaster Mill are also Pearle Hospitality properties, among many others. That being said, you can expect a classic and elegant interior design.
Niagara Parks released a few renderings of what we can expect to see.
According to the release, the redevelopment will also prioritize public access to its areas which include a museum, public art gallery, craft brewery, and more.
Here’s a full breakdown of what the redevelopment plans include:
- Niagara’s first and only five-star boutique accommodation
- A variety of culinary offerings
- Craft brewery
- Wellness and social spa
- Event and programming space
- Museum and Art Gallery
- Educational programming
- And more
“Overseeing its preservation and transformation from a dormant heritage building of national significance into a brand-new, one-of-a-kind visitor experience for the benefit of local residents and tourists alike, is the embodiment of what Niagara Parks stands for as an organization,” said April Jeffs, Chair of the Niagara Parks Commission.
“This transformational investment will elevate the entire destination of Niagara Falls, solidifying its status as a global tourism icon for generations to come.”
As of now, a Letter of Intent has been signed between Niagara Parks and Pearle Hospitality, which begins a 120-day due diligence phase.
This will include consultations, a Heritage Impact Assessment, Cultural Heritage Evaluation Report and Strategic Conservation Plan, environmental and archaeology assessments, and contract negotiations.
Though we’re a few years away from seeing its full potential, we can’t help but get excited for what’s to come.