In 2006, it was torn down because of code violations.
This one should last 25 to 30 years - but every year, it will look a little different.
It will be dedicated to three heroes from the Rutland area - this year, a doctor, community leader and a fallen hero.
More than 200 volunteers made it all happen, and the kids even helped with the design.
"One of the interesting things about playgrounds is that statistically, kids are five times more likely to be at a healthy weight if they live within a half mile of a playground. And so with this here we think to ourselves, ok this half mile here, these kids have no excuse. They better come down and play," Cindi Wight said, who is the Rutland Parks and Recreation Superintendent.
The city only had to pay for 20% of the new “Playground of Heroes.” The rest was made up of private donations and grant money.