The airfield is currently referred to as the 'YZD district' for residential and commercial redevelopment by Northcrest Developments since purchasing property rights of the site on 17 August 2024, following Bombardier's relocation to a new facility at Toronto's Pearson Airport.

[1]: 46  Following World War II, the Department of National Defence (DND) was in need of property for stationing Royal Canadian Air Force (RCAF) squadrons to protect the concentration of industry and population in southern Ontario.

In 1947, the federal government acquired and consolidated 270 properties in Downsview surrounding the De Havilland manufacturing plant, including land on both sides of the railway line.

This large tract was developed in the ensuing years as RCAF Station Downsview and became part of the Canadian military's front-line defence of the region.

The first of several non-military events took place in 1984 with the Papal Visit by Pope John Paul II, during which he held an outdoor mass for hundreds of thousands of worshippers.

When this was announced in 1994, the government stipulated "the existing DND-owned lands associated with the Downsview site will be held in perpetuity and in trust primarily as a unique urban recreational greenspace for the enjoyment of future generations.

[2] Parts of the property are currently undergoing development, while the airfield is being managed as the Toronto/Downsview Airport and is still in use by the successor to de Havilland Canada, Bombardier Aerospace.