Ford government says cost of new Ontario Place parking garage less than $200M

The Ford government says the cost to build a new parking garage at the redeveloped Ontario Place will be less than $200 million.

The province points out that designing and building the five-story structure will cost $198 million, which is 15 per cent less than the $1.3 billion figure cited in the Auditor General’s 2024 report.

Auditor general Shelley Spence concluded that it would cost more for the government to build a new Ontario Science Centre at Ontario Place than it would have to maintain the site it abruptly closed earlier this year. Her report said that the Ontario Place redevelopment could cost taxpayers $2.2 billion.

Spence’s report said Infrastructure Ontario estimated parking costs to be $280 million for a four-level, above-ground parking structure at Exhibition Place, or more than $400 million for three levels above ground at Exhibition Place and one level below the science centre.

“We’re building this garage at a fraction of the $1.3 billion cost contained in the 2024 Auditor General report and less than half of the $400 million projected cost when this project was tendered,” said Stan Cho, Minister of Tourism, Culture and Gaming.

The new structure will contain 3,500 parking spots, 680 EV charging stations and up to 100 bicycle parking spaces. It will be located at the existing parking lot site just south of Lake Shore Boulevard West and is anticipated to generate up to $60 million in gross revenue annually for the province once Ontario Place reaches full operation.