Relocating the Ontario Science Centre to the Toronto waterfront could save the province hundreds of millions of dollars over 50 years, creating a "cultural anchor" at Ontario Place, according to a feasibility study of the decision.

According to the report, which was presented to Doug Ford's government in March and publicly released today Wednesday, it also indicates that this move could "address negative perceptions about the marketing and privatization" of Ontario Place.

The feasibility study states that "the concurrent planning of these two public assets provides the government with a unique opportunity to activate two regional assets at once through a single capital investment."

According to the report written by Infrastructure Ontario, the government will spend more money to repair and update the current museum and educational center located in North York. The feasibility study notes that "the design is inflexible and no longer meets the expectations of contemporary visitors."

The report also indicates that approximately $396 million will be needed over the next twenty years to address these repair works.

The report further notes that the impact of multiple transportation projects in the area, including the Ontario Line, could lead to a decrease in the number of visitors.

Alternatively, the government can create a smaller new facility at Ontario Place that would reuse the existing capsule and the already existing Cinesphere structure on site for about $387 million.

The report concluded that "the status quo is no longer a viable option and the current operational model (Ontario Science Centre) is unsustainable," adding that securing a "publicly owned cultural anchor" could be a significant addition to Ontario Place.

Even with the costs of decommissioning and relocating exhibits, as well as separating them, the feasibility study indicates that hundreds of millions could be saved long-term by taking this step.

The report also notes that "initial discussions with the City of Toronto confirmed its support for opening the OSC lease to enable the relocation process."

Prime Minister Doug Ford announced that the Ontario Science Centre will move to the waterfront in April and that construction will begin in 2025.

The decision was met with criticism from advocates and local politicians who argued that the Centre at Flemingdon Park is a tourist attraction and that more consultation should have taken place.

The land where the original science centre is located is owned by the city, and the current lease, negotiated in 1965 for 99 years, only allows building structures "for the purpose of operating as a science centre."

It is unclear what will happen at the original site near Don Mills Road and Eglinton Avenue, but Toronto Mayor Olivia Chow said she wants to maintain scientific programming in some capacity.