The sprawling Niagara Falls property that was once home to Marineland has attracted the attention of at least one investor as the province launches a “comprehensive” strategy for investment that will unlock the region’s “full potential.” “There’s an active investor looking at the property as we speak,” David Adames, CEO of Niagara Parks, said of the Marineland site. “So it’s absolutely undergoing a transformation. It’s a unique property.” In an interview with Newstalk 1010 on Monday morning, Adames said the property, which spans hundreds of acres and is exclusively zoned for tourism, is “looking for a new life.” “Stay tuned for the development there,” Adames said. Marineland is just one property that is looking to undergo a massive overhaul in the region. In the province’s master plan for the region, titled Destination Niagara Strategy, it maps out how the region could become a “world-class, multi-day destination primed for increased year-round visitation, expanded international tourism and robust economic growth.” As part of this strategy, the province is looking for an investor to help create “a marquee theme park” in the region, which offers “an exciting new venue where families can create long-lasting memories.” Marineland, Adames said, could be the perfect spot for that type of “family entertainment centre.” Other properties slated for redevelopment include a decommissioned hydroelectric power generating station. The Toronto Power Station, a former hydroelectric power station that overlooks the Canadian Horseshoe Falls, is set to reopen as a five-star boutique hotel. The building will house a free museum and art gallery open for public viewing. Construction begins in “a big way” next month, Adames said, and it is expected to take four years to complete. According to the province, the $300 million redevelopment project was funded entirely through private-sector investment. The Niagara Parks Commission, a self-financed agency of the Ontario Ministry of Tourism, Culture and Gaming, owns and maintains parkland and attractions over a 56-kilometre stretch along the Niagara River, including the Toronto Power Station. “We learned a lot through Niagara Parks when we did the adaptive reuse of the former Rankin Power Generating Station. We opened that as a tourist attraction in 2021,” Adames said. “So, again, we’re going to take that knowledge (and sharing) it with the investor who is redeveloping the Toronto Power Station.” As part of its overall plan, the province said it would like to see the number of visitors to the region double. Officials would like to accomplish this by “leveraging new marquee attractions and increased connectivity to the region to inspire broader audiences to choose Niagara as their next travel destination.” Niagara Falls currently welcomes about 13 million visitors annually and generates about three billion dollars in tourism dollars every year. More casinos, a new observational wheel to offer “a bigger, better and bolder perspective” of Niagara Falls, and expanding regional transit have all been floated as part of a “bold” expansion. “So, lots of development to come, but we’re ready for it,” Adames said.
