NEWS RELEASE
PROVINCE OF ONTARIO
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The Ontario authorities is giving the greenlight to Niagara Parks Fee (NPC) to redevelop the Toronto Energy Producing Station (TPGS) right into a five-star boutique lodge close to the brink of Niagara Falls, which is able to create good-paying, sustainable jobs and increase native economies within the area. As soon as full, the brand new attraction will accommodate the rising variety of vacationers visiting Niagara and can embrace facilities resembling indoor and out of doors public viewing areas and a free museum and artwork gallery.
“This transformative funding to revive and reimagine the Toronto Energy Producing Station is welcome information for Niagara,” stated Sam Oosterhoff, MPP for Niagara West. “The restoration of this historic monument to our area’s legacy of power innovation is a part of our authorities’s plan to assist Niagara as a key vacationer vacation spot, not solely attracting guests from coast to coast in North America, however from across the globe.”
Funded totally by a $200 million funding by Society Developments in collaboration with Pearle Hospitality, the redevelopment of the historic hydroelectric energy producing station will see the positioning repurposed – after sitting vacant for 50 years – into Niagara Area’s first and solely five-star lodge. The brand new and multi-faceted customer attraction will embrace a theatre and numerous eating places, in addition to cost-free actions resembling a free museum, artwork 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,” stated Stan Cho, Minister of Tourism, Tradition 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 Fee (NPC), an company of the Ministry of Tourism, Tradition and Gaming, will retain possession of the property. With the Ontario authorities’s approval and a lease settlement in place, Pearle Hospitality will develop into NPC’s latest 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,” stated Bob Gale, Chair of the Niagara Parks Fee.
Fast details
The Niagara Parks Fee obtained official approval from the province to enter right into a lease to redevelop the Toronto Energy Producing Station by an Order-in-Council, signed November 7, 2024.
Designed by E.J. Lennox within the Beaux-Arts architectural model, TPGS operated from 1906 till it was decommissioned in 1974. It obtained designation as a nationwide historic web site of Canada in 1983.
Pearle Hospitality, an Ontario-based firm, is behind a number of the province’s high historic-properties-turned-hospitality venues, together with Ancaster Mill within the Niagara Escarpment.
All necessities of the due diligence section have been accomplished this fall, together with public session and the event of a strategic conservation plan.
Quotes
“This project will be transformational for hospitality in Niagara Falls and for the Niagara Region,” stated 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,” stated David Adames, CEO of Niagara Parks Fee. “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
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