The community has been raising funds for the project for the last two years.
An anonymous donor pledged to give $112,500 dollars if supporters of the project could match those funds.
They had to extend the deadline to meet that challenge, but meet it they did by their deadline of July 1st.
Heather Richards is Redmond's Community Development Director.
"I want to say thank you. The community really stepped up. We got donations from all over central Oregon, Prineville, Bend, Madras as well as Redmond. I think it's going to be a tremendous project and the benefactors are going to be all the people who live here. So kudos to everyone."
The community plans to break ground on the new improvements next February and hope to open it before Memorial Day 2015.
The new design includes more than 70 play elements that will be custom made and will be accessible to everyone.