Founders' Memorial station was originally known as "Marina East" or "Gardens Bay East" in the conceptual plans since 2008. It was originally built as a reserved station. In January 2019, the station was announced as "Founders' Memorial" and will open in 2028, in tandem with the Founders' Memorial.
Contract T302 for the fit-out works of the existing TEL station box at Bay East Garden into an operational station was awarded to China Railway First Group Co., Ltd at a sum of S$242.4 million in June 2016. Construction commenced in 2019, with opening slated for 2028.