For over fifty years, this block of land enclosed by King, Victoria and Ferguson Streets was North Bay's premier outdoor sporting and entertainment facility. It was initially known as Wallace Park and later became known as Memorial Gardens. The large field served as a home to a plethora of sports, teams, games, shows and events from its opening in 1910 until 1962.

The city purchased the park property in 1934 and it was used extensively until the 1940s. After the war, refurbishment was necessary and with funds from North Bay Rink & Auditorium Co. stock and volunteer work parties, lights were installed and a massive roofed grandstand, topped by a pressbox was constructed. Three quarters of the field was enclosed by North Bay's own 'green monster' - a wooden fence ten feet high on the property line.

In 1947, Wallace Park and the North Bay Arena combined to form Memorial Gardens. When Memorial Gardens opened, the King Street Arena was decommissioned and the park became known as Memorial Stadium. The city sold the property for $101,000 in 1962, the historic facility was demolished and an A&P shopping plaza took over the space.