While looking at the SkyscraperCity Forums, I noticed that poster domer248 posted a picture of what the proposed hotels on the Skylon Tower property will look like.
You can read a few of the details at http://www.city.niagarafalls.on.ca/economicoutreach/qnewdev.html
(look for Skylon Hotel – South Tower, Yerich Lands and Skylon Hotel – North Tower, Yerich Lands
The architects also have more information on some of the redevelopment.