Ontario Premier Doug Ford stated that the private spa project in the Ontario Place redevelopment, which will be built by Austrian developer Therme Canada, won’t cost taxpayers any money. Ford clarified that there is «no public money in this deal…outside of us owning an asset which is a parking lot and clearing the land.» The government signed a 95-year lease with Therme Canada, which will invest $500 million in constructing the 22,000 square-metre spa. Infrastructure Minister Kinga Surma stated that Therme Canada will also invest in the surrounding public land.
Ford declined to disclose the costs associated with the other proponents of the project or the underground parking garage and land clearing. He mentioned that he would always be transparent regarding details of the waterfront space overhaul, which NDP Leader Marit Stiles estimated would cost taxpayers around $650 million. The premier stated his willingness to work with the city to build a new school or community centre at the site, and the TRCA confirmed that the old Science Centre can be torn down, but must be replaced with a structure that serves the purposes of operating as a science centre.
The redevelopment of the waterfront area has been a point of concern for taxpayers, and the cost estimates have varied depending on the scope of the project. The government’s partnership with Therme Canada is expected to create over 2,000 jobs, with the spa set to open in 2026. The Ontario Place revitalization project aims to transform the site into a vibrant destination that will provide economic and social benefits for the community while preserving the site’s heritage.