If you've read his books you'll know he wrote stories set in the far north a lot. That was the significance of the installation. I read Lost in the Barrens as a teenager.
At one time there was a ferry that ran from the US to Cobourg. That is what brought the rich from the south to summer in Cobourg and Port Hope.
I think I read one of his books while in school.
I had no idea about the ferry, I assumed it was a train. But that makes sense if it's coming from Rochester. I know they wanted to build a ferry from there to Toronto, but Toronto didn't really think it would be a good idea.