The land for this park was acquired by the Parks Board in 1965. It was named Olympic Park because it was developed during the 1976 Olympic Games held in Montreal. The majority of the land was once the estate of J. H. Gage.
Around 1985, a twin-pad arena was in the process of being started, much to the surprise of the local residents. A heated battle began between those in favor of keeping the space green, seeing the arena as a huge threat to the appearance of their neighbourhood, and those who were in favour of the complex due to the need for more ice-time for local hockey, ringette, and figure skating. The battle at one point even included a petition of 500 names - proving that Hamiltonians really care about their parks and how they are used. By 1993, it was resolved not to build the arena on the park, to the joy of some and the dismay of others. It was built just east of the park later that year.