The cost for the facility is anticipated to come in at $205 million (£127 million/€159 million) with the 6,000 capacity Aquatics Centre set to host diving, swimming, synchronised swimming and the swimming in the modern pentathlon, while the 2,000 capacity Field House, adjacent to the Aquatics Centre, will stage fencing and the fencing portion of the modern pentathlon.

The Games-time name of the Scarborough venue will be CIBC (Canadian Imperial Bank of Commerce), the Lead Partner of Toronto 2015, and after the event, it will fall under the ownership of the University of Toronto and the City of Toronto, becoming a recreational facility for students and local residents.

"It's an exciting day for us, our partners and everyone here in Scarborough to break ground on this amazing centre," said Toronto 2015 chief executive Ian Troop.

"Not only does this site represent the largest infrastructure investment ever made in Canadian amateur sport, it will also be a wonderful place where generations of students and local families can gather together as a community and access top-notch athletic facilities as a living legacy of the 'People's Games'."

A computer generated image shows how the Aquatics Centre and Field House will look from the outside during the Toronto 2015 Pan and Parapan American Games

Earlier this year, PCL Construction won the bid to handle the design, building and financing of the facility, which is scheduled to be completed in the summer of 2014.

Construction will create around 150 jobs in the area, with the Aquatics Centre to include two internationally sanctioned 50-metre pools alongside a separate diving tank and the Field House to feature flexible gymnasium space for training and competition, as well as an indoor recreational track and fitness area with cardio and weightlifting facilities.

"Our Government is a proud supporter of the Toronto 2015 Pan and Parapan American Games and has committed funding of up to $500 million (£310 million/€387 million) to help support sport infrastructure requirements, legacy initiatives, and the cost of essential federal services associated with staging the Games," said Canada's Minister of State for Sport Bal Gosal.

"As part of this commitment, the Government of Canada is very pleased to announce funding for the Pan Am and Parapan Am Aquatics Centre and Field House and the Canadian Sport Institute Ontario, which will be home to aquatic and fencing events during the 2015 Pan and Parapan American Games."

The Aquatics Centre and Field House will be core elements of the cluster system announced last year, which will see Toronto 2015 build several venues in close proximity to each other.

Contact the writer of this story at [email protected]