Overview

• Finalized renderings released June 24 depict a five-storey, 3,500-space garage spanning the waterfront between Lakeshore Boulevard and Lake Ontario at an estimated $400 million cost.
• A 95-year lease with Therme Group obliges the province to provide 1,600 dedicated parking spaces for the private spa and waterpark complex.
• The broader project has swelled to $2.2 billion and also includes an Indigenous cultural pavilion, public beach, green spaces, a relocated Science Centre and a Live Nation performance venue.
• Local activists and NDP MPP Chris Glover argue the redevelopment prioritizes private development over public parkland and imposes heavy costs on taxpayers.
• Construction is slated to begin in 2026 with phased openings across the site leading to a full launch in 2029.