In 2019, the province signed a 95-year lease with a private developer to transform the site further. Plans include an indoor water park, luxury spa, adventure playground, and upgraded concert venue. However, many heritage advocates worry that the original architecture and cultural value will be lost. Meanwhile, the project's estimated cost has ballooned to over $2.2 billion, sparking public criticism.

Today, the Abandoned Ontario Place Theme Park stands at a crossroads. While some areas have been revitalized, much of its original charm remains hidden behind locked gates and crumbling walkways. Whether the redevelopment will honor its historic roots or erase them entirely is still uncertain.

Premier Doug Ford unveiled new redevelopment plans for Ontario Place during a June 24th 2025 press conference in Toronto. As part of the announcement, he revealed a new publicly owned parking facility will be added to the site.

The proposed designs feature five key zones: the Water’s Edge, Brigantine Cove, the Forum, the Marina, and the Mainland area.

“We’re transforming Ontario Place into a world-class destination for families and tourists,” said Ford. “Visitors will have easy access whether arriving by car, GO train, or via the Ontario Line’s Exhibition Station. These investments will keep 5,000 workers employed during uncertain economic times, including those brought on by President Trump’s tariffs, and will strengthen Toronto and Ontario’s tourism industry for generations to come.”