A developer unveiled proposed plans on Tuesday to take the parking lots around Square One Shopping Centre in Mississauga and turn them into a large mixed-used development that would have 37 towers.
Oxford Properties Group said the 52-hectare proposed development, known as Square One District, is a “multi-phase, multi-decade” 18-million-square-foot project that will feature new condos, offices, retail and green spaces. Oxford says there will be enough housing for 35,000 people.
The area to be developed borders Burnhamthorpe Road, Confederation Parkway, Highway 403 and City Centre Drive. Oxford is partnering with Alberta Investment Management Corporation to develop the area.
The ambitious plans include the creation of a pedestrian-friendly civic area to be called The Strand.
“What is today swaths of parking lots will be transformed into a vibrant community that will eventually comprise more than 18,000 residential units, a transit mobility hub connected to the Hurontario LRT, community buildings, parks, green spaces and forward-thinking office space,” Oxford said in a news release on Tuesday.
In the first phase of housing, Oxford and AIMCo are partnering with The Daniels Corporation to construct two residential towers with 402 rental apartments and 575 condo suites at the southeast corner of Rathburn Road and Confederation Parkway.
The two towers, 36 and 48 storeys respectively, will be called the Rental Residences and the Condominiums of Square One District. Construction is to start in summer 2020.
“Square One District is a bold vision to repurpose underutilized land in the heart of downtown Mississauga to create an entirely new mixed-use urban community,” Eric Plesman, executive vice president and head of North America for Oxford Properties, said in the release.
“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,” he added.
More than half of the 18,000 residential units will be rental, according to Oxford. The new district will be anchored by Square One Shopping Centre.
“This is a real opportunity to deliver a walkable, downtown district in Mississauga … Square One District is about creating a true mixed-use community,” said Mark Cote, Oxford Properties’ head of development in Canada.
“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.”