Mississauga has seen a boom in new builder condo projects in the past 15 years or so. And doesn’t look like it is coming to an end anytime soon. As I discussed in one of my previous blogs on Mississauga, the city’s low crime rate and many of Fortune 500 companies having their offices located here, makes this city an attractive place to settle in. and if you are interested in preconstruction housing market, this is a perfect place as well especially if you are just starting. This is because of lower cost of living in comparison to downtown Toronto and Condos are often below $1000 per square foot. Let us look at a couple of pre-construction development projects that are making a buzz the recently announced Square One District and Oro at Edge Towers.
Square One District Condos
Square One District is a visionary 18 million-square-foot mixed-used, master-planned development that’s been anticipated for many years and also a multi-decade project that will be developed on the existing parking lots and open lots surrounding Square One Shopping Mall. So, where is the Square One District be built? It will be located in an area bounded by Burnhamthorpe Road to the south, Confederation Parkway to the west, Highway 403 to the north and City Centre Drive. The first phase of will be built in partnership with Daniels Corporation and it will feature two residential towers. They are officially known as Condominiums at Square One District. There will be two residential towers - one will be 36 stories tall and the other 48-storeys tall. Both towers will rise from a shared podium. These 2 buildings will have a combined total of about a thousand units; with 575 condominiums located in the 48-storey tower and 402 purpose-built rentals located in the 36-storey building. This complex will also feature 8,400 sq. ft. of retail space.
New office towers are also planned to be built, something that hasn’t been done in downtown Mississauga in year. This along with new retails stores, parks and community facilities, as well as a transit hub that will eventually be served by the future Hurontario LRT which will link Brampton and Mississauga together. One of the focal points of Square One District is ‘The Strand’ which will be located on Rathburn Road, just west of Hurontario. This space is envisioned as the anchor of pedestrian activity within the city. It would feature street level retail, walkable parks, public art, and a transit hub that would connect to the future Hurontario LRT and local MiWay bus service. The first phase towers at Rathburn Road & Confederation Parkway is expected to go on sales as early as April 2020 and is expected to break ground for construction this summer. The tentative occupancy for the first phase is set for 2024.
ORO Tower Condos
ORO is Solmar Development’s third building in the Edge Tower series. ORO will be located right just south of Square One mall. ORO will be a 50 storey building with 630 residential units and it will have 5 high speed elevators. The building will have 24-Hour concierge, Gym with cardio equipment, weight area and fitness studio; Yoga Studio , Games Room, Guest Suites, Sports Lounge, Wi fi TV Lounge , Movie Theatre, Edge Tower Community Park, Party Room with Private Terraces , Security , Bike storage Area , Outdoor Terrace with separate lounge area, BBQ and al fresco dinning. ORO will be released this February and the tentative occupancy will be in 2024.
ORO Tower will be less than 10-minute walk from Square One. The upcoming Hurontario Light Rail Transit will have a stop near ORO. Just a quick 4 minutes’ drive from Sheridan College which has gone through a massive expansion recently. You can walk to best of the best amenities that Mississauga has to offer including Celebration Square, YMCA, City Hall, and Mississauga Library. Many parks such as Kariya Park, Stonebrook Park and Martin L. Dobkin Community Park are close by. You have a lot of entertainment choices like Cineplex, Living Arts Centre or enjoy performances and events at Celebration Square.
Condos in Mississauga have appreciated in value over time and this trend will continue for a foreseeable future. The best opportunity to unlock the best appreciation potential is by taking advantage of early launch prices. Additionally, builders will usually throw in other incentive offers such as parking included pricing. A Mississauga pre-build condo is the perfect way to enter the market and a VIP or Platinum agent can help you get it right.
What do you think about recent condo developments in Mississauga? Do you like the hate them? I would love to hear your thoughts. So put them in the comments section below.
If you need help in purchasing a pre-construction home, I can help you. Call me at 647-834-9928 or email at [email protected] or visit one of our latest pre-construction projects on our webpage.
