Oxford Properties Group, a real estate investor, developer and manager, along with Alberta Investment Management (AIMCo) has unveiled its plan for a new 130-acre mixed-use community in Mississauga, Canada.
The new 18 million ft² project, named Square One District, is touted to be the largest mixed-use downtown development in the country.
Go deeper with GlobalData
The Square One District will transform 130-acres around the Square One Shopping Centre to deliver more than 18,000 residential units. It will also feature a transit mobility hub connected to the Hurontario LRT, community buildings, parks, green spaces, and office space.
Oxford Properties North America executive vice-president and head Eric Plesman said: “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.
“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.”
Oxford Properties expects the Square One District, bounded by Burnhamthorpe, Confederation Parkway, Highway 403 and City Centre, to be a multi-phase, multi-decade project.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAs part of the first phase of the scheme, Oxford and AIMCo will team up with Canada-based residential builder and developer Daniels to construct two residential towers with 402 rental apartments and 575 condominium suites.
The two new towers of Square One District, 36-storey The Rental Residences and 48-storey The Condominiums will be located at the southeast corner of Rathburn Road and Confederation Parkway. Construction on the towers is scheduled to commence in summer 2020.
The Square One District will also comprise The Strand, a pedestrian-friendly, connected civic space supported by a transit hub and a community park.
Oxford Properties Canada development head Mark Cote said: “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. 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.”
—————————————————————————————————————————————
Illustration of master planned mixed-use neighbourhood in downtown Mississauga. (Credit: CNW Group/Oxford Properties Group Inc.)
