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A major transformation for part of downtown Mississauga has been unveiled by Oxford Properties and Alberta Investment Management Company (AIMCo).

The 130-acre development of Square One District is the largest mixed-use downtown development in Canadian history and will create an 18 million square foot master-planned mixed-use neighbourhood of the future.

“Our ambition is to build a community more than 35,000 people will be proud to call home,” commented Eric Plesman, Executive Vice President and Head of North America for Oxford Properties. “This new community will support employment with world-class office space to help businesses grow while maximizing the positive impact of new transit being developed in Mississauga. It will be a place where business, life and leisure can come together as one.”

The development will include 18,000 residential units, more than half of which will be purpose-built rentals.

Construction of the first phase of housing starts this year with sales for the condos starting in the spring offering residents exclusive partnerships and services with Square One Shopping Centre.

The first phase of housing will be built by The Daniels Corporation and will comprise two residential towers with 402 rental apartments and 575 condominium suites.

“Oxford and AIMCo’s plan for Square One District recognizes the important role housing plays in creating a holistic and healthy urban community, and we are thrilled that they have trusted Daniels to deliver on the critical first phase.  Daniels has an outstanding history of bringing master-planned communities to life that go above and beyond the traditional approach to development. We welcome the opportunity to continue to build on our 15-year history in Mississauga’s City Centre,” said Niall Haggart, Executive Vice President, The Daniels Corporation.

Along with housing, the development will include a transit mobility hub connected to the Hurontario LRT, community buildings, parks, green spaces and forward-thinking office space, anchored by Square One Shopping Centre.

“This is a real opportunity to deliver a walkable, downtown district in Mississauga that gives residents and workers an exceptional array of destination retail, food and entertainment options. Square One District is about creating a true mixed-use community. We will work collaboratively with the City and its residents to build a vibrant downtown that meets the evolving needs and aspirations of Mississauga for generations to come. Oxford is recognized as a global leader in sustainability and is building the first two zero carbon office towers in Canada. We will bring this experience to Square One District to create a forward-thinking and sustainable community,” added Mark Cote, Oxford Properties’ Head of Development, Canada.

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source: Canadian Real Estate Magazine