The Chaudière Falls and Island have been called the crown jewels of the Ottawa River, but for more than a century those jewels have been hidden from view, tucked behind a complex of ugly industrial buildings in Ottawa just upstream from Parliament Hill.

Now, the National Capital Commission is preparing a plan to transform Chaudière Falls and Island, as well as the nearby Victoria Island, to make them more accessible to the public.

The plan still faces a hurdle, because much of the land is owned by the paper manufacturer, Domtar, which while not using the land, has yet to agree to sell it.

"[The site is] extremely important for the capital, Canada's capital. This site, it's crucial. It holds tremendous opportunity," said Marie Lemay, CEO of the NCC.

"The vision of the NCC is to be able to bring the public to the river and the riverfront. The concept … was developed back in 2005, [when we] talked about a vibrant island with mixed use, and a lively development, mixing residential and commercial, and bringing [the area] to life," Lemay said.

For thousands of years, the Chaudière Falls was one of the main portages on the Ottawa River, and the island, a favourite meeting place for First Nation people and early European explorers.

In the 1800s, lumber barons first started to harness the energy of the falls, building timber slides, paper mills and eventually power stations. By the early 1900s, the ring dam was created, and all public access to the site was cut off.

In recent years, most of the land has been owned by Domtar. But, three years ago, the company announced it was shutting down all of its operations there.

It's expected the land could soon be put up for sale, which is exactly what the NCC has been hoping for.

But Domtar has yet to make it official, or name its price.