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Oxford Properties plans major development around Mississauga, Ont., shopping mall

MISSISSAUGA, Ont. — Oxford Properties Group has announced an ambitious plan to transform 53 hectares of largely parking lots around a Mississauga, Ont. shopping mall into a major 37-tower mixed-use community.

The Toronto-based real estate giant says it plans to build more than 18,000 residential units along with community buildings, parks, and modern office space around the Square One shopping centre as part of the phased, multi-decade project in the centre of the city.

Oxford says more than half the units will be rental apartments, but has made no commitments to affordable housing.  

It claims the 1.7-million-square-metre (18 million square foot) development is the largest mixed-use downtown development in Canadian history.

Oxford, owned by the Ontario municipal employees pension fund (OMERS), is partnering with the Alberta Investment Management Corp. on the overall development and Daniels Corp. on the first phase.

Groundbreaking on the first two residential towers, with 402 rental apartments and 575 condo units, is planned for this summer. A further 5,000 residential units are scheduled to launch over the next five to seven years. 

This report by The Canadian Press was first published Jan. 21, 2020.

The Canadian Press

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