October 07, 2024

Real Estate News

RYPM

The Ontario government has partnered with Therme Canada to create a new water park and wellness resort at Ontario Place in Toronto. This significant project, valued at $700 million, will provide numerous benefits for the people of Ontario.

 Key Benefits for Ontarians: 

  • Expanded Public Spaces: Therme Canada will develop 16 acres of new parks, beaches, trails, and gardens, offering more opportunities for families to enjoy the outdoors and connect with nature.

  • Job Creation: Over the 95-year lease, Therme Canada is expected to generate nearly $2 billion in revenue for the province. This investment will support local job creation and strengthen the economy, providing more employment opportunities for residents.

  • Family-Friendly Attractions: Once completed, Ontario Place will feature a large water park, wellness services, and more than 50 acres of free parks and green spaces, making it an ideal destination for families and visitors of all ages.

  • Revitalization of Ontario Place: The goal of this initiative is to transform Ontario Place into a world-class destination, open year-round. It will also include a new music venue, a modern science center, and a marina, ensuring a vibrant community space for everyone.

These exciting developments will enhance Ontario Place, creating a wonderful space for all residents to enjoy. The project aims to create jobs, boost the economy, and provide more ways to experience the beautiful Toronto waterfront.

At Royal York Property Management, we are dedicated to helping you discover exceptional opportunities in Ontario's evolving real estate market.

Source: https://blooloop.com/water-parks/news/therme-canada-ontario-lease-agreement/