Transformational Private Sector Investment to Restore and Reimagine Historic Toronto Power Generating Station​

• Three-stage procurement process has concluded with Pearle Hospitality named as the successful proponent.
• Redevelopment plans will restore and preserve the iconic heritage building and transform it into a globally significant visitor experience.
• A Letter of Intent has been signed and next steps include a due diligence phase.

Niagara Falls, ON – Niagara Parks is proud to announce the conclusion of the three-stage public procurement process to restore and to redevelop the Toronto Power Generating Station, with Pearle Hospitality named as the successful proponent.

The extensively researched and thoughtful proposal submitted by Pearle outlines a transformational private sector investment of over $200 million that will restore the National Historic Site while creating an unparalleled visitor experience befitting of its location overlooking the iconic Canadian Horseshoe Falls.

Pearle Hospitality brings a depth of experience in the reimagining of notable heritage properties across the province into dynamic, location-defining experiences, such as the Elora Mill Hotel and Spa, the Cambridge Mill, and the Ancaster Mill, demonstrating a meticulous approach to restoration, sense of place and design.

A Letter of Intent has been signed between Niagara Parks and Pearle Hospitality, commencing a 120-day due diligence phase. The due diligence phase will include consultations, the development of heritage studies (Heritage Impact Assessment, Cultural Heritage Evaluation Report and Strategic Conservation Plan), environmental and archaeology assessments (where required) and contract negotiations.

The revitalization of Toronto Power is an opportunity, through private sector investment, to preserve a significant piece of Ontario and Canada’s history and provide it with a new purpose as an all-new visitor experience and demand generator for the Niagara region, Ontario and Canada. While the project offers immediate financial benefits, including providing an additional revenue stream for Niagara Parks, the broader economic impacts of this type of investment and redevelopment are immense.

The redevelopment plans prioritize public access with several indoor and outdoor public viewing areas including a museum, public art gallery, a range of culinary options, Niagara Falls’ first and only five-star boutique accommodation, event and programming space and much more. For more details on the redevelopment plans, please visit niagaraparks.com/torontopower.