CWF and North Bay City Council agreed that the city and residents of the area would reap tremendous long-term benefits from the development of the waterfront. This was echoed in a study commissioned by the city and CWF in 2002. The report, completed by IBI Group, stated that the development would act as a catalyst for the downtown and confirmed the economic viability, sustainability and the environmental and social benefits of the CWF plan. Because of the growing interest in the park and the start of the development we are already beginning to see some positive changes that will bode well for our future.

• The IBI report estimated that the completed waterfront development would attract between 50,000 and 100,000 patrons per year and that potential local spin-off spending would generate between 4.5 and 10 million dollars per year. These figures have been eclipsed by the exciting announcement that the CWF vision for our waterfront has been the sole catalyst for a residential and community friendly commercial development worth over $24,000,000, planned for construction later this year.
  
  
• Interior renovations to the former CP station are complete. This beautiful, historic landmark building now houses the former North Bay Area Museum, now know as @Discovery North Bay. Its exhibits and interactive displays will draw visitors downtown eager to learn about our community’s history.
  
• Improvements are now being made to the infrastructure of the downtown core and more are planned. These changes will benefit all of the downtown and are the first steps to returning Oak Street to its former position as a major shopping and dining area.
  
  
• We are seeing the rejuvenation of the downtown with shops and restaurants being opened; our waterfront blooms with award winning gardens, two carousels and a heritage railway that are drawing international attention to our community.
  
• The arts community is bringing its creations to the waterfront. The WKP Kennedy Gallery has received funding for an exhibition of sculptures by internationally renowned artists this winter on North Bay's waterfront. The Canada Council for the Arts ranked the proposal for the exhibition number one in the country. The exhibition has received accolades and is vying for the Ontario Association of Art Galleries’ Exhibition of the Year.
  
  
• The waterfront park will turn the waterfront into a four seasons playground attracting thousands of visitors year round. Snowmobilers will be able to access the downtown via the walkway and leave their machines in a secure lock-up area; families will be drawn downtown in the winter to enjoy the ice skating rink and children's play park; the @Discovery Centre attracts local and out of town visitors to our museum; and bus tours of gardening enthusiasts will be directed to the waterfront to tour the botanical gardens. The potential spin-off benefits are endless!