California family-run company Helm and Sons Amusement is taking over as the new operator.
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The park will feature nine new rides and will switch some of them out every six months for variety.
It's also keeping many of the original attractions to save the sense of nostalgia.
Park operators will be holding a donor night on June 1st to help keep the memories alive for generations to come.
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"I'm really excited, everyone is really excited," said Candace Cuisiner, manager of the park.
Playland is set to hold its grand reopening on June 16th.
The park will be open Wednesday through Sunday from 1 pm to 9 pm year-round.
General admission is $25 and junior admission (7 and under) is $20 for unlimited rides.
The train will be $3 per ride.