Actually, what you’re seeing right now in the satellite image thumbnail in Google Maps is the old PTA Grounds. (I assume that the PTA stands for the Philippine Tourism Authority.) The PTA Grounds functioned as a sports center and you can see a track oval and what appears to be a swimming pool at the southeast corner. The track oval is preserved in the new park and it’s now a rainbow-striped footpath, while the pool has been converted into a “sunken garden”.
Among the other attractions in the People’s Park is a giant wireframe durian (photo above) that marks the park’s entrance and various statues (created by Kublai P. Millan) depicting indigenous Mindanao peoples as well as a giant Philippine Eagle. The northern end of the park has a recreated tropical rainforest with species apparently brought all the way from Africa.
The People’s Park cost the city 72 million pesos to construct but admittance is free for everyone. It opened back in December 2007 just in time for the Christmas holidays back then.
While the Google Maps satellite imagery doesn’t show the new park yet, you should check out the park in OpenStreetMap which shows a lot more detail.