The Ontario government has officially greenlit the Niagara Parks Commission's plan to transform the historic Toronto Power Generating Station into a luxurious five-star boutique hotel, situated near the iconic Niagara Falls. The project is set to be fully funded by a $200 million investment from Society Developments in partnership with Pearle Hospitality.
After remaining vacant for 50 years, the historic hydroelectric power generating station will undergo a complete transformation. The revamped site will feature a range of attractions, including a theater, multiple restaurants, and activities such as a free museum, an art gallery, and public viewing areas that offer stunning vistas of the falls.
The Niagara Parks Commission received formal approval for the project through an Order-in-Council signed on November 7th. The release noted that all due diligence requirements (public consultations and the creation of a strategic conservation plan) were successfully completed this fall.
The Niagara Parks Commission will retain ownership of the property while Pearle Hospitality will become the commission's latest tenant. Pearle Hospitality is known for its transformation of historic properties into premier hospitality venues across Ontario, including the well-regarded Ancaster Mill located in the Niagara Escarpment.
The Toronto Power Generating Station, which operated from 1906 until its decommissioning in 1974, was designated a national historic site of Canada in 1983.
Historic Power Generating Station Set to Become Luxury Hotel Overlooking Niagara Falls