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Since ceasing operations in 1974, one of the most grandiose buildings in Ontario has been sitting dormant on the banks of the upper Niagara River overlooking the iconic Canadian Horseshoe Falls… until now, with the announcement to redevelop the historic Toronto Power Generating Station.
First built in 1906 and designed by renowned architect E.J. Lennox, the ornately crafted former hydroelectric power station and National Historic Site supplied electricity for communities across Ontario for close to seventy years. Beginning in the fall of 2021, Niagara Parks launched a three-stage public procurement process to seek private sector investment to redevelop and reimagine this 30,000m² station, which is a splendid celebration of Beaux-Arts architecture reflective of its gilded age. This process followed Niagara Parks’ opening, also in 2021, of the fully restored Niagara Parks Power Station and Tunnel as Niagara’s newest must-see attraction.
This week, Niagara Parks announced it has signed a Letter of Intent with Pearle Hospitality for the redevelopment of the station, which will be a transformational $200+ million private sector investment to establish it as a world-class visitor experience for the Niagara Region. Pearle Hospitality will be both a new tenant and the company managing the site.
Included in the redevelopment plans designed by +VG Architects and The Ventin Group will be Niagara’s first and only five-star boutique hotel, a variety of restaurants, a craft brewery, a wellness and social spa, a museum and art gallery, the E.J. Lennox Theatre, event and programming space, and educational programming.
“Our vision was to take an iconic building which has been closed for decades and restore it to its former glory,” says Brian McMullan, Director of Business Development, Pearle Hospitality. “We are opening it up to the public and giving it renewed life as a multi-purpose facility.”
The entire initiative behind this ambitious plan is to fulfill Niagara Parks mandate to preserve a nationally significant heritage building which in turn will grow tourism in Niagara and Ontario while at the same time generate new revenue for Niagara Parks as a self-funded organization.
The four main project goals established by Niagara Parks for the redevelopment of Toronto Power were the full restoration of the heritage building, the creation of a unique guest experience for Niagara and Ontario, the payment of rent to Niagara Parks while covering all restoration and redevelopment costs, and to create significant capital investment which has extensive economic impact for the entire region.
“In terms of both the building and its location, this will be a unique venue,” says McMullan. “Pearle Hospitality delivers an exceptional hospitality experience and the highest level of customer services from the moment of arrival to departure, and our goal is to transform Toronto Power Generating Station into a truly international destination that local travelers and those from across Canada and around the world will want to experience firsthand.”
Pearle Hospitality is no stranger to restoring heritage properties to their former glory. Founded by the Ciancone family in 1936 and named after the family grandmother Pearle, the Southern Ontario family-owned company now employs approximately 2,000. It has been responsible for world-class guest experiences in Ontario including The Elora Mill Hotel and Spa, The Cambridge Mill, The Ancaster Mill, The Pearle Hotel and Spa in Burlington, Whistle Bear Golf Course in Cambridge, and Spencer’s at the Waterfront, located in Burlington.
“As we work to develop 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,” says McMullan.
The signing of the Letter of Intent officially begins a 120-day due diligence process phase that includes Heritage Studies such as a Heritage Impact Assessment, Cultural Heritage Evaluation Report, and Strategic Conservation Plan, along with Environmental Assessments, Archaeology Assessment, consultations and contract negotiations. The redevelopment of Toronto Power Generation Station is expected to be a multi-year project.
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
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