Thursday, October 3, 2024 TORONTO — The Ontario government has unveiled its lease agreement with Therme Canada , highlighting the substantial benefits this partnership brings as the province revitalizes Ontario Place into a premier, year-round destination. Key benefits include an estimated $2 billion in revenue contributions from Therme Canada over the lease period and $700 million in upfront capital investments. Of this, $500 million will be dedicated to constructing the Therme Canada facility, while $200 million will be allocated to developing 16 acres of freely accessible public spaces, including shoreline protection, trails, parkland, gardens, gathering spaces, and a new beach.
As part of this transformative project, Therme Canada will establish an all-season, family-friendly waterpark and wellness attraction on the West Island , in addition to creating new publicly accessible spaces. Under the lease terms, the province will retain ownership of the land and has not committed any operational subsidies or capital contributions to the Therme Canada facility. The agreement ensures ongoing revenue for the province through rent payments and contributions to site-wide maintenance.
Therme Canada’s planned 16-acre public park will more than double the size of Trillium Park at Ontario Place, directly addressing public, stakeholder, and Indigenous feedback gathered through consultations. The waterpark and wellness attraction will be a central feature of the broader Ontario Place.
