Work begins to turn Niagara Falls power station into C$350m luxury hotel

Niagara Falls' C$350 million hotel redevelopment is expected to create 900 regional jobs by 2029.

For more than half a century, an imposing industrial landmark overlooking the Canadian Horseshoe Falls stood as a reminder of Niagara's remarkable electricity-generating past. Once responsible for harnessing the power of one of the world's most famous waterfalls, the historic Toronto Power Generating Station is now preparing for an entirely different purpose. After decades of inactivity, the century-old structure is being given a new lease on life through a C$350 million redevelopment that will transform it into Niagara Falls' first five-star hotel.

E.J. Lennox designed the 1906 Toronto Power Generating Station on the upper Niagara River in Beaux-Arts style. According to The Spaces, applying this elaborate architectural style to an industrial facility was unusual at the time, making the building an architectural achievement as well as an engineering milestone. The facility supplied electricity to Toronto before ending its generating operations in February 1974. Its historical and technological importance subsequently earned it National Historic Site designation in 1983. Niagara Parks assumed ownership of the property in 2007, preserving the landmark for future generations.

The redevelopment has now officially entered its construction phase. According to Niagara Parks, a groundbreaking ceremony was held on November 12, 2026, with project partners and Ontario's Minister of Tourism, Culture and Gaming, Zee Hamid, attending the event. Toronto Power Hotel Inc. is investing more than C$350 million in the ambitious restoration and redevelopment. The partnership brings together Society Developments, which is leading the construction, and Pearle Hospitality, which will manage and operate the property once completed. Deltera Contracting Inc., part of the Tridel Group of Companies, has been appointed general contractor. +VG Architects and MT Planners are also ensuring the redevelopment retains the building's character.

The proposed hotel will introduce Niagara Falls' first five-star accommodation, combining heritage architecture with contemporary hospitality. As outlined by Niagara Parks, the development will feature four to five restaurants, a wellness and social spa, multiple event spaces, an art gallery and a museum. Free indoor and outdoor public viewing areas will also allow visitors to enjoy the spectacular surroundings without necessarily staying at the hotel. The project is anticipated to reach substantial completion in 2029 and is projected to create up to 900 jobs in the region, providing economic opportunities for local residents and businesses. The Spaces have shared the larger vision of redevelopment which includes working with the historic building and adding architectural interventions that complement it. The restoration is intended to preserve the legacy of Lennox's original design while establishing a contemporary destination.

The hotel redevelopment adds another dimension to Niagara Falls' growing heritage tourism offering. Niagara Falls Tourism already highlights the region's historic power-generating facilities through immersive exhibitions, restored machinery and interactive experiences at the Niagara Parks Power Station. Visitors can also explore its remarkable 2,200-foot underground tunnel, located 180 feet beneath the building, before reaching an observation deck overlooking the Niagara River. The Toronto Power Generating Station's transformation now promises to connect this industrial legacy with luxury tourism. What once powered homes and industries will soon welcome travellers, diners and cultural enthusiasts, ensuring that one of Niagara Falls' most recognisable historic structures remains relevant for generations to come.