The Ontario government have given its approval to Niagara Parks Commission (NPC) to redevelop the Toronto Power Generating Station (TPGS) into a five-star boutique hotel near Niagara Falls.

Once complete, the new attraction will accommodate the growing number of tourists visiting Niagara 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 reimagine the Toronto Power Generating Station is welcome news for Niagara,” said Niagara West MPP Sam Oosterhoff. “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 redevelopment of the hydroelectric power generating station will see the site repurposed – after sitting vacant for 50 years – into Niagara Region’s first and only five-star hotel. The new facility will include a theatre and various restaurants, as well as cost-free activities such as a free museum, art gallery and public viewing areas overlooking the falls.

The Niagara Parks Commission (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.

NPC received official approval from the province to enter into a lease to redevelop the Toronto Power Generating Station through an Order-in-Council, signed November 7, 2024.

The station operated from 1906 until it was decommissioned in 1974. It received designation as a national historic site of Canada in 1983.

“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 NPC Chair Bob Gale.

Pearle Hospitality is behind some of the province’s top historic-properties-turned-hospitality venues, including Ancaster Mill in the Niagara Escarpment.