Irish President Mary McAleese officially opened Ireland Park in Toronto which commemorates the tens of thousands who fled Ireland during the potato famine of 1847.

McAlesse was joined by Ontario Premier Dalton McGuinty, federal Finance Minister Jim Flaherty and Toronto Mayor David Miller for the event.

The park, situated at the shores of Lake Ontario at the foot of Bathurst Street, depicts the Irish famine through an impressive collection of sculptures by Rowan Gillespie.

It serves to commemorate the 38,000 Irish immigrants who escaped to Toronto during the potato famine of 1847 when the population of the city was a mere 20,000.

During the opening ceremony, McAleese described the Toronto of 1847 as having "an enormous big big heart" for welcoming so many of Ireland's people.

She said Ireland Park is "a place for Toronto and Ireland to be jointly proud of, proud parents of this place."

It's the second day of McAleese's visit to the city, which has also included a tour of a Catholic school and the world's only Irish-Protestant cemetery dedicated to those lost in the famine.

McAleese said Thursday her visit marked the first time the Irish government has supported an infrastructure project outside of Ireland or Great Britain.

Mayor Miller said the arrival of the Irish-famine immigrants was "one of the seminal events in the history of Toronto."

"This moment set the course for Toronto as a destination for all those in the world seeking refuge and a better life," Miller said.

McGuinty welcomed the president joking about his own Irish ancestry and reiterated Miller's sentiment that Ontario will always be a place where people feel welcome.

"Ontario is proud that today families are still finding their dreams here, proud that opportunity continues to live here for anyone, from anywhere and that with every new arrival Ontario grows stronger."

Flaherty extended a welcome to the Irish president from Prime Minister Stephen Harper and said it was a proud day for all Irish-Canadians.

"It is a great day when we can stand here and look at the flag of the Republic of Ireland and the flag of Canada flying together in Toronto on this happy occasion," Flaherty said.

Canadian Celtic music star Loreena McKennitt performed during the opening and The Irish Tenors, with the Toronto Mendelssohn Choir and Festival Orchestra conducted by Noel Edison, performed Irish composer Patrick Cassidy's suite "Famine Remembrance."

About one million Irish -- one-eighth of the population -- died in the late 1840s of starvation and disease while another two million simply vanished.