Today I want to share about an exciting new development going in in the Square One district in Mississauga. This is hot off the presses!
This massive development that Oxford is doing with AIMCo will be right in the heart of city center around Square One. They've partnered with Daniels for the residential portion. Daniels, along with Tridel, is one of my personal favorite builders, at least for condos. They brought us things like the Chicago building, Limelight, and the Amica building.
This super cool planned community is going to be where there are mostly just parking lots right now. It's going to be bordered by Burnhamthorpe to the south, Confederation Parkway, Highway 403, and City Center Drive, and obviously it will be anchored by the Square One shopping center. The total area of the new community will be about 130 acres, and it's a mixed use community, which means there will be retail shops, there will be offices, and there will be residential units along with some parks and some art type areas. One of the parks alone is over three acres, so there will be plenty of green space.
The Square One district is actually the largest downtown master plan community in Canadian history. The executive vice president of Oxford Properties said that their ambition is to create a community that 35,000 people will be proud to call home, all while supporting commerce with state-of-the-art office towers and the new transit options that Mississauga is going to be bringing online. In other words, they're going to give us space that we can live, work, and play in. This walkable community will be accessible from all of the new transit options and the LRT, which is going to have a stop there.
If you're thinking, "Well, I'm a renter, what does all this great news have to do with me?" There's something in this for you, too! Due to the low supply of rental units in Mississauga and the GTA, over half of these new residential units are going to be purpose-built rental buildings. The first two buildings of the very first project, going in on the southeast corner of Rathburn and Confederation Parkway, will be a 36-floor purpose-built rental building and a 48-floor condominium. Oxford has provided us with some renderings that show some of the views from different locations in the Square One district, so let's check them out now.
I cannot wait for this development to come together. The first phase of residential condos will be going on the market in spring of 2020, and Oxford will be marketing the first office building to prospective tenants around the same time. If you'd like additional information, feel free to reach out to me at any time. My contact info is at the right hand side of the webpage. I hope you're as excited about this new development as I am!