Ontario Unveils Lease Details for Therme Spa at Ontario Place

The 95-year agreement includes parking provisions and financial commitments, sparking public debate over land use and costs.

The Ontario government has committed to providing 1,600 parking spaces for Therme's spa and waterpark, with a total of 2,500 spaces proposed for Ontario Place.
Therme Canada will pay approximately $2 billion over the lease term, including $1.1 billion in rent and $855 million in maintenance payments.
The lease allows for a 75-year term with an option for a 20-year extension and includes a clause for early termination after 10 years with five years' notice.
Therme is investing $200 million to create 16 acres of public parkland, doubling the size of the existing Trillium Park.
The redevelopment of Ontario Place will include relocating the Ontario Science Centre, expanding concert venues, and maintaining public access to the shoreline.