The Inchyra Place facility was given a £150,000 makeover by Loretto Housing and its partner, City Building.
Now it has specially adapted swings for children with disabilities, as well as new play equipment, including slides, a roundabout and climbing frames.
It also boasts a new fence, painted in bright primary colours by City Building apprentices for free as part of the organisation’s community benefits programme.
The fence was tested by local children Melissa Monteith, Caitlyn Forsyth and Rachel Wylie, who used it to practice their handstands.
Five-year-old Jessica Monteith, from Inchyra Place, officially opened the park in a ribbon-cutting ceremony with Loretto’s head of housing, Dan Blake.
Jessica’s mum, Pamela Coyle, said: “The old play park was quite rundown, so this has made a massive difference.
“We avoided it a bit before, but the children are desperate to get out and play there now.
“They are really excited. There are a lot of kids on this street. A brand new play park is like an early Christmas present for all of them.”
Mr Blake said: “We are always looking for ways to make our customers lives better – and that includes the youngest ones. The new playground is an investment in our community, but was also an opportunity for apprentices to hone their skills on a real project.
“It looks fantastic, and I hope it will be a place where children can enjoy playing for many years to come.”