Technically, the name of this facilility is the Mattamy National Cycling Centre but everyone I knows just calls it the Velodrome. It's out in the middle of nowhere right now, but eventually there is to be a university campus near here as well at the Milton Education Village (MEV).
It was built for the 2015 Pan American games but it's not just for riding bikes around in circles! You can run/walk in circles on the indoor track, workout in the fitness room, take a fitness class, or drop in for basketball, badminton, volleyball or pickleball.
Take a drive (or a long walk) out here and check it out for yourself.