In August 2011 it was announced that the vessel had been sold to "Skyline International Developments Inc.", and was moved back to its home port of Port McNicoll, Ontario, on 23 June 2012, for restoration and permanent display as a maritime museum and event facility. This is possible because of the cooperation of the local and State officials in obtaining permissions and permits to dredge the harbor where "Keewatin" sat for 45 years to allow the ship to be moved. A not for profit foundation, the Diane and RJ Peterson Keewatin Foundation, has been formed to operate the ship and restore her. Skyline Developments, a publicly held corporation that is rebuilding the Port McNicoll site, is funding this project.