After its bankruptcy in 1986, Federal and State government showed interest in using the land to create a public park with the aim to preserve its history as well as being a center of culture, business, entertainment and ecological awareness for the people of the city.

[2] The park opened on February 24, 2001, with an area of 114 hectares (280 acres), receiving the additional name of Museum of Industrial Archaeology Site.

In 2010 the Paseo Santa Lucía development, consisting of a 2.35 kilometres (1.46 mi) artificial river and accompanying river-walk, is incorporated to the park bringing it into its current state, with a total area of 144 hectares (360 acres), 80 hectares (200 acres) of which are green space, 2 lakes, 23 fountains, 16 buildings, 27 large scale industrial structures and 127 pieces of steel-making machinery and tools of historical importance to the state of Nuevo Leon.

On May 18, 2022, the park announced that it would rebrand as Parque Fiesta Aventuras for the 2022 season following a two-year period of closure.

The reason for the rebranding was not classified by the park, but is likely that the owners had terminated the license to use the Plaza Sésamo branding and characters.