City council worked late on Monday to decide which of the two new renovation plans will be implemented for the Boathouse in Victoria Park.
The plan was approved after midnight, after more input from the public and a review of the two new design options.
The renovation is expected to cost taxpayers about $610,000, more than the $500,000 originally proposed.
But officials say the difference is should be covered by rental income at the Boathouse.
The new design calls for the creation of a pedestrian walkway along the lake's edge and a patio extending around the west side of the Boathouse.
A new entrance will be built where the current concession stand window is located and a vehicle lay-by and pedestrian crossing on Jubilee Drive will be added.
Some interior upgrades will also be made to the building, including washroom improvements and added insulation.
There had been months of debate ahead of the decision, but city staff were hoping for a quick resolution so renovations could be completed at the same time as improvements to the lake.