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The next hottest spot for investors? – New Development in Mississauga

Posted by Tanner Ross on January 27, 2017
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An ambitious development plan aims to redefine a skyline and strengthen an already popular market
A $1.5 billion community called M City is set for development in Mississauga, Ontario, starting with a flagship building that aims to be iconic.

Rogers Real Estate Development has announced the ambitious plan, which has been underway for approximately six years.

A total of 15 acres, which has been owned by the Rogers family since the 1960s, will soon be home to 10 towers in Mississauga’s downtown core, which will include 5-6,000 units. The first project will be a tower designed by CORE architects.

The 60 story tower will be the largest building in the city.

“We wanted a design that would be iconic, that would establish the development in the location, that would act as the western gateway to Mississauga’s downtown and we think we achieved that,” Mark Reeve, partner at Urban Capital, the lead developer of the project’s first phase. “We think what we have come up with is an excellent response to the iconic design of the Absolute Tower on the east side. In ways we’re trying to be bookend. This project is equally as striking on the skyline.”

The Absolute Tower, architecture enthusiasts know, is the hard-to-miss curved condo building that has colloquially referred to as the Marilyn Monroe.

And Urban Capital is confident its building will become just as iconic.

A rendering M City’s planned flagship tower, slated to be built at Burnhamthorpe Road and Confederation Parkway

The entire community is expected to be completed within the next 10-15 years.

It’s expected to provide a serious boost to the already popular housing market.

“Mississauga has reached an inflection point and we recognize that we have a significant role to play in how this city continues to evolve,” said Edward Rogers, whose family’s private holding company, Rogers Real Estate Development Limited, is the owner of the project. “This is a once-in-a-lifetime opportunity to play an active role in shaping the future of a city.”


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Source: http://www.canadianrealestatemagazine.ca/news/the-next-hottest-spot-for-investors-220281.aspx

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