The Town of Wasaga Beach is investing $59 million in recreation and culture.

Mayor Nina Bifolchi and some council members announced the major project at the site of the future library and twin-pad arena Thursday afternoon.

The mayor says the project is seen as a priority for the town.

"Our other arena is ageing. It's past its due date. Our library is far too small, so we are ready to move our community forward," Bifolchi said.

The twin-pad arena will be complete with hockey and figure skating and an indoor track.

"It's an exciting project for our community, and we've started a little bit of work on the site, but the sign is the first step and announcement to the community that we're moving forward," the mayor added.

Construction is slated to start this summer at the location on River Road West. The project is expected to be completed by the winter of 2023.