The future of Downsview Park has been thrown up in the air now that the urban park has been moved under the umbrella of the Crown property management corporation.

Public Works Minister Rona Ambrose announced Thursday that the massive park at Keele St. and Sheppard Ave. W. and the Old Port of Montreal are being placed under stewardship of the Canada Lands Co.

“We believe it is imperative that Canadians have confidence in how Crown corporations operate and use their hard-earned money,” Ambrose said.

According to its website. Canada Lands “manages, redevelops and/or sells” federal properties “that are no longer required for program purposes.”

City Councillor Maria Augimeri called the announcement a massive betrayal of Toronto residents.

“I’m so offended,” she said. “Once the community hears about this . . . they will be angry and insulted.”

“We’ve been betrayed. . . . We’re now in the process of being overrun by highrises and midrise apartments and thousands of townhouses that no one in the community wants.”

No decision has been made on the park’s future, said a Canada Lands spokeswoman.

“We have to get our due diligence done and take it from there,” said Manon Lapensée.

An operational review isn’t expected to be completed until early in the new year, she said. “We’re starting at a blank slate.”

In the late 1990s, the federal government declared the surplus military base “Canada’s first national urban park,” and yet for many years it was not much more than empty space to accommodate large gatherings.

It was at Downsview Park that Pope John Paul II and 800,000 young Catholics gathered in 2002. In 2003, the park was the site of the SARStock benefit concert, featuring the Rolling Stones.

After years of deliberation, planning and work, the 145-hectare park officially opened in July. Hills, valleys and a large “lake” — a stormwater retention pond ringed with paths and trees — were created in the massive development.

And yet Downsview is still a work in progress. Plans include several new neighbourhoods, a possible aerospace/educational hub and sports facilities. A subway station will open there in 2015.

In the middle of the site, Bombardier continues to manufacture airplanes that fly from here around the world.

The federal decision comes as the Old Port of Montreal has been mired in a financial scandal. In contrast, Downsview Park has been hailed as an urban oasis and a triumph of community involvement.

Former Downsview Park board chair David Soknacki said he wasn’t surprised by the move. Ottawa “let all of the board members lapse to do this,” he said.

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Soknacki said the park was created as a result of numerous meetings in churches, synagogues, union halls and basements. “We had an excellent opportunity and we used it. Nobody can take anything away from what the board has created.”

Asked to predict the park’s future, Soknacki said: “It’s very much the call of the minister.”

A Canada Lands statement said its objectives are to leverage its expertise “in real estate development and property management, strengthen accountability, ensure continuity and the long-term financial viability of Downsview Park and Old Port of Montréal while offering the best possible returns to Canadians and the Government of Canada.”