Photo courtesy CNW Group/Toronto 2015 Pan American Games Bid

Representatives of the Toronto 2015 Pan Am bid—including, from left, Hon. David Peterson, Ontario Premier Dalton McGuinty, Joe Halstead and Hon. Margaret Best—celebrate their win last week in Guadalajara, Mexico.

The Greater Toronto Area (GTA) will welcome athletes from across the Americas in 2015 after the region won its bid to host the Pan American (Pan Am) Games.

The games, which are expected to attract 10,000 participants and 250,000 visitors, also paves the way for a $700-million sport venue plan, which will include six new major venues, including the Pan American Aquatics Centre and two additional 50-m (164-ft) swimming pools. A new stadium, velodrome and athlete's village will also be constructed. The facilities, which will be built to meet International Sport Federation (ISF) specifications, will be located across the GTA.

"Canada is excited to be chosen to host the Americas in 2015," Minister of State (Sport), Gary Lunn, said in a statement on the Toronto 2015 website. "The Government of Canada will continue to work with the Government of Ontario, Toronto and the other municipalities, the Canadian Olympic Committee, the Canadian Paralympic Committee, and the future 2015 Toronto Organizing Committee in the years to come to ensure the success of the games."

The Toronto region defeated bids from Bogota, Colombia and Lima, Peru, to win the 2015 games. The official announcement was made last Friday in Guadalajara, Mexico, after all three finalists made their final pitches to the Pan American Sport Organization (PASO).