Ontario region’s first 5-star hotel is officially under construction

Three years after Ontario residents found out that one of the province’s best-known tourist regions is set to–believe it or not–welcome its very first five-star hotel, shovels are officially in the ground. 

This week, construction crews broke ground on a project that will transform the Toronto Power Generating Station, a National Historic Site in Niagara Falls that’s been vacant since 1974, into the town’s first five-star boutique accommodation.  

Historic capture of the Toronto Power Generating Station, courtesy of Niagara Parks Commission

Niagara Parks announced the official groundbreaking on Nov. 12. Financed by Toronto Power Hotel, a partnership between Society Developments and Pearle Hospitality (which operates the Elora Mill Hotel & Spa) to the tune of $350 million, the conversion aims to restore and redevelop the iconic property into a year-round destination that will boast a theatre, restaurants, a museum, an art gallery and a public viewing area that will overlook the falls.

According to a previous Niagara Parks news release, the museum and gallery will be free. 

David Adames, CEO of the Niagara Parks Commission, tells YourCityWithIN that plans include a large spa and about 250 guest rooms. 

“There’s no five-star [hotel] in Niagara right now, and criteria are higher-end finishes and a very high level of service,” he says, adding that the amenities will also attract day-trippers and people looking for a place to eat or explore.   

A view of the current interior, courtesy of Niagara Parks Commission

“The great aspect is that visitors can experience it in different ways, whether they attend a wedding or conference or lunch or dinner or have a cup of coffee or a glass of wine; there will [also] be free public viewing areas and free museums.” 

While five-star hotels tend to boast high rates, he says that people will be able to enjoy it whether they stay the night or not.

“When you go into the Royal York or Ritz-Carlton, you can stop for a cup of coffee or a cocktail or stay overnight,” he says. 

When Niagara Parks announced the project in 2023, it said it had four goals for the property: Restoration of the heritage building, creation of a new guest experience that does not exist in Niagara or Ontario at the moment, payment of rent to Niagara Parks (and coverage of all restoration and redevelopment costs) and economic investment that will benefit both Niagara and Ontario. 

Rendering of the Lobby Lounge, courtesy of Niagara Parks Commission

The historic property, designed by architect E.J. Lennox, is located on the banks of the upper Niagara River, overlooking the Canadian Horseshoe Falls. According to Niagara Parks, the property was built in 1906 and supplied electricity to communities throughout the province until it closed in the mid-70s.

“Redevelopment plans will restore and preserve the iconic heritage building and transform it into a globally significant visitor experience,” the NPC said in a 2023 news release.

Adames says the project should be mostly complete by 2029, with opening likely in 2030.

The hotel is expected to create up to 900 new jobs in the region. 

The groundbreaking comes shortly after Niagara Parks announced that an immersive theatrical production, AVATAR: Guardians of Eywa, a Magic Walk experience inspired by James Cameron’s Avatar franchise, will open in May 2027. 

Dining room rendering, courtesy of Niagara Parks Commission

“It is part of the plan to rejuvenate the Falls. We’re always looking at creating new guest experiences; we had Niagara Takes Flight open in 2025, and we have the children’s garden,” Adames says. 

“It’s another experience that gives visitors a reason to come to Niagara. We welcomed people from 175 countries from around the world last year.”  

The revitalization plan is laid out in the province’s Destination Niagara Strategy, a multi-billion-dollar plan to make one of Canada’s premier tourist hot spots even more of a destination for people at home and abroad. 

The strategy also includes the possible creation of a new theme park, the potential redevelopment of the Ontario Power Generating Station, a new observation wheel, and the revitalization of the Niagara Parks Marina.