$350-million five-star hotel begins construction in Niagara Falls

A massive $350-million transformation of the historic Toronto Power Generating Station in Niagara Falls has officially begun construction, and will soon bring the tourist destination its first five-star hotel.

Niagara Parks announced on Thursday, alongside Toronto Power Hotel Inc. and its partners, that construction is now underway on the redevelopment of the designated National Historic Site, which will convert the former generating station that once harnessed the raw power of Niagara Falls into a grand new hotel that will, likewise, tap into the torrential flow of tourists pouring into the popular destination.

Thursday morning's ground breaking overlooking the upper Niagara River was attended by project partners as well as Zee Hamid, Ontario's Minister of Tourism, Culture and Gaming, as crews from Deltera Contracting Inc. move from site preparation activities to full-on, shovels-in-the-ground construction.

The company leading the charge on the Toronto Power Hotel redevelopment, aptly named Toronto Power Hotel Inc., is a partnership between Society Developments, tasked with the construction side of the undertaking, and Pearle Hospitality, the hospitality brand known for popular destinations like the Elora Mill Hotel & Spa.

The project team promises that the redevelopment will restore the property and transform it into a "world-class visitor experience that promises to elevate the entire destination of Niagara Falls."

An imposing landmark along the Niagara River for well over a century, the Toronto Power Generating Station was designed by famed architect E.J. Lennox, the same designer behind Toronto landmarks like Old City Hall and Casa Loma. It operated from 1906 until its decommissioning and subsequent closure in 1974, though it was spared from demolition when it was designated a National Historic Site of Canada in 1983.

 After almost four decades of abandonment, Niagara Parks launched a procurement process looking into private-sector redevelopment of the site back in 2021.

Pearle Hospitality won this contract in fall 2023 and announced plans for its hotel redevelopment, while Niagara Parks would officially be granted a lease approval through the province the following year.

Pre-construction work kicked off in summer 2025, including building a cofferdam along the property's river frontage to support construction within the waterway, while Thursday's announcement marks the next steps toward this long-awaited transformation of a beloved landmark.

The redeveloped Toronto Power Hotel is expected to welcome its first guests in 2029, with the project team promising the property will create up to 900 new jobs in the process.

Once complete, the hotel will boast free indoor and outdoor public viewing areas overlooking the Niagara River, up to five restaurants, a spa, multiple event venues, and even an art gallery and a museum.

Aaron Ciancone, President of Pearle Hospitality, says that the company intends to make the hotel "one of the world's great hospitality destinations and redefine how people experience Niagara Falls."