Oxford Properties Group (Oxford) and Alberta Investment Management Corporation (AIMCo) unveiled its plan for the transformation of 130-acres around the Square One Shopping Centre into an 18 million square foot master planned mixed-use neighbourhood.
The transformation will 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.
To deliver the first phase of housing, Oxford and AIMCo are partnering with The Daniels Corporation (Daniels) to construct two residential towers with 402 rental apartments and 575 condominium suites.
Located at the southeast corner of Rathburn Road and Confederation Parkway, The Rental Residences and The Condominiums of Square One District are 36 and 48 storeys with construction 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,” said Eric Plesman, Executive Vice President and Head of North America for Oxford Properties. “Our ambition is to build a community more than 35,000 people will be proud to call home. 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 heart of Square One District is The Strand, a pedestrian-friendly, connected civic space anchored by a transit hub and a community park. The new district will be connected to both the Hurontario LRT and Rapid Bus Transit.
“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,” said Mark Cote, Oxford Properties’ Head of Development, Canada.
New office towers will be the first commercial development in downtown Mississauga in a generation. Oxford will begin marketing the first office tower to prospective tenants in Q2 2020.
Construction of the first phase of Square One District housing starts this year. Sales for the condominium start this spring and will offer residents exclusive partnerships and services with Square One Shopping Centre.
“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.