Ontario Place Redevelopment: A New Adventure Awaits!

Ontario Place is a famous landmark in the eyes of many. The Ontario government owns the 155 acres that make up this area. In addition, it is a well-known location close to Downtown Toronto and is encircled by a stunning waterfront.

As a theme park, entertainment center, and venue for events, Ontario Place first opened its doors in 1971. The Cinesphere, the Forum, restaurant villages, a marina, and the enormously well-liked Children’s Village playground were some of its most notable features. The evolution of Ontario Place over the course of the last 40 years has contributed to its success. The Molson Amphitheatre, which increased the venue’s seating capacity from 12,000 to 16,000, replaced the original Forum theater during the site’s renovations in the 1980s and 1990s. Additionally, the waterpark was updated and enlarged. The waterpark, Cinesphere, and Echo Beach, an outdoor entertainment venue, were all updated at the start of the 2000s at Ontario Place.

Unfortunately, in spite of these modifications, the annual attendance fell from 3 million visitors in 1971 to just 600,000 in 2011. The difficult decision to close the majority of the park, including the waterpark and amusement rides, was made by the Ontario government in 2012. However, these closures served as a stopgap measure before the site underwent a substantial redevelopment in the future. Plans for redevelopment have been stalled ever since the park was shut down in 2012.

Summer concerts continue to be held at the Budweiser Stage (previously the Molson Amphitheatre), and movie screenings are still available at the Cinesphere on its enormous IMAX screen. However, the majority of the structures and the area around the park have remained empty. With the opening of Trillium Park and William G., the first stage of the revitalization vision was finished in 2017. both of which were constructed on an old parking lot: Davis Trail. Trillium Park, which has 7.5 acres of open space and breathtaking views of Toronto’s waterfront, and William G. The 1.3-kilometer Davis Trail is a lushly forested trail. This trail, which highlighted some of the province’s heritage and culture, was created in partnership with the Mississaugas of the New Credit First Nation.

After that, in 2019, the Ontario Government issued a request for fresh proposals to redevelop the remaining portion of the site. A press conference was recently held to reveal the three successful bidders who will redevelop some of the site. The first is a park for outdoor adventures being built by the Montréal-based Écorécréo Group. Second, Live Nation Entertainment, the Budweiser Stage’s creator, will renovate and improve the location so that it can host events all year long. Therme Group, who will erect a sizable indoor waterpark and spa, comes in third. Throughout the development, the Cinesphere and Trillium Park won’t change.

Near the marina and just south of the Budweiser Stage, Écorécréo Group will erect their outdoor adventure park. The business is renowned for constructing parks in Quebec that are similar. Zip lines, obstacle courses, escape rooms, rock climbing, and other activities are among those listed in the proposal for this outdoor adventure park, which will be similar to their other parks. By 2030, they hope to attract 500,000 visitors annually after opening their section of the park in 2024.

A new concert venue with 20,000 seats and room for an additional 7,000 people on the lawn is what Live Nation plans to replace their current Budweiser Stage with. The venue also intends to host events all year long thanks to retractable walls that would enable indoor use during the winter and outdoor use during the summer. By increasing energy efficiency, enhancing water efficiency, and lowering greenhouse gas emissions, they also intend to make the venue more environmentally friendly.

With options for everyone at any age, including pools, waterslides, relaxing botanical areas, as well as sports performance and recovery services, Therme Group’s plans will provide a family-friendly experience. A total of 8 acres of open space, including parkland, gardens, and beaches, will be available outside of this spa and indoor waterpark for people to enjoy. Therme Group, primarily recognized in Europe for developing resorts and waterparks, has opened its first North American location in Toronto. Therme Group is a collaborator with neighborhood groups bringing programming to Ontario Place that is influenced by the arts and culture. Through galleries and museums, this will enable visitors to engage in immersive art experiences.

The Province will collaborate with the Ontario Science Centre to explore new possibilities for science-related tourism and educational programming at the Cinesphere as the redevelopment of Ontario Place progresses.

Although Ontario Place will undergo many changes, it’s important to remember that the Province is not selling the land, and the Government has pledged to keep the park open all year long, including while construction is taking place. Furthermore, the government is adamant about refraining from developing any condominiums or casinos on this land because they want to preserve it as a location for activities, live music, festivals, events, and much more. For those who are interested in investing in real estate, it’s crucial to understand that the area near Ontario Place will experience a boom in pre-construction condos. The redevelopment of Ontario Place will greatly increase the investment of many investors, so they will want to buy here.

Numerous new jobs will be created as a result of Ontario Place’s transformation and redevelopment, which will also boost tourism. The advantages include the creation of 3,600 new jobs, an increase in local and international tourism to Toronto’s waterfront, with an estimated 5 million visitors annually, new income from lease agreements, and tax advantages for Ontario. Investors should keep a close eye out for any new condominium developments constructed nearby as a result of the area’s anticipated rapid growth over the coming years. Get in touch with one of our Platinum Agents today to find out more about the pre-construction condos that are coming to this area!