Thereafter, the island is experiencing a slow decline. The buildings are not maintained and the place becomes abandoned. In 1955, the owner of the island, Louis-Armand Dufour, builds an artificial lake in the centre in order to establish a fish farm. The artificial lake is transformed into a beach, and later a campground emerges. During the 1967 Expo, several people move there and the place becomes a trailer park. The monuments are not immune to the new occupation of the land. The bakery becomes a music bar and the municipal office rooms are used as a dwelling.
In 1973, Terrebonne attempts to buy the island in order to preserve the historical site that we know today, but the population prevents it from achieving its goal. However, the MP and Minister of Cultural Affairs, Denis Hardy, manages to acquire the island and its buildings in 1974, which he had classified as an "historical monument" the previous year.
The fierce opposition from residents of the trailer park fails to halt the project. Many of them will be relocated to La Plaine.
Today, Île-des-Moulins is a vibrant part of Vieux-Terrebonne. The public library is located in part in the old flour mill and sawmill. We can also see some of the mechanisms of the time. At the other end, the Moulin Neuf houses the venue Le Moulinet, where the SODECT offers rich and varied content. This gave a second life to the bakery and a gastronomic pub has opened as well.
The outdoor theatre offers musical performances during the summer. In winter, you can skate on the sluice basin.