Construction of Lakeview Village is expected to begin in 2020.
Ontario Power Generation had sold their Lakeview property for $275 million to Lakeview Community Partners Limited (LCPL) in March 2018. 27 hectares of waterfront land was set for remediation and transferred to the City of Mississauga thereby creating a green oasis in the heart of the city. LCPL, the province and the City of Mississauga plan to transform the former Lakeview Generating Station at Lakeview Mississauga “The Four Sisters” into a vibrant Lakeview Village that will include recreational, residential and retail properties. According to Bloomberg, the site could be worth about $6 billion.
The 71.6-hectare Lakeview Village will include 5,000 to 7,000 new homes including townhomes, mid-rise and high-rise condominium buildings, in addition to a 26-hectare conservation area. There will be more than 600,000 sq ft of employment and institutional use and another 200,000 sq ft of cultural space.
This is significant as there is hardly any land left for builder new condo development in Mississauga, let alone provide room for a more destination-type neighbourhood.
An abandoned coal-fired power plant to be transformed into a vibrant, sustainable and connected community.
Lakeview Village is located in southeast Mississauga on Lake Ontario, approximately 4 km east of Port Credit. It is approximately 7 km from Mississauga City Centre. Hurontario Street provides a direct connection to the City Centre from Lakeshore Road. Basically it is well connected with major roads, the QEW, Highway 427 and has convenient access to both the Long Branch GO Station and Port Credit GO Station. Local transit currently includes MiWay and TTC Streetcar.
According to the master plan, “Lakeview Village will create a place where people can connect with Lake Ontario. This new community will be a model in green and sustainable urban living.”
Lakeview Village will offer up to 8,000 new housing units as a mix of townhouse, mid-rise and high-rise buildings, a whole lot of commercial space for retail.
The area will feature Lakeview Square, Waterway Common, Inspiration Point, Pearson Innovation Corridor, the Marina, Ogden Green and Lakeshore Gateway.
Just like Downtown Mississauga’s Celebration Square, Lakeview Square will be at the heart of the area as serve as a significant cultural hub. Waterway Common will be a year-round public gathering place for residents and visitors alike. It will feature summer splash pads, spring orchards, winter skating rinks and seasonal markets. Inspiration Point will become one of Lakeview Village’s most inviting features, extending more than 600 meters into Lake Ontario, this attraction will provide visitors with public art, cultural pop-ups and views of Toronto, Mississauga and Lake Ontario. The Marina will be designed to offer a unique waterfront experience. Serson Innovation Corridor may see more hi-rise buildings. Ogden Green will make for a quieter neighbourhood with townhomes and other types of housing. The village will be visually represented by the Lakeshore Gateway. This gateway district will offer daily amenities such as a grocery store, pharmacy, bank and other services.
The massive parcel of land will also be home a conservation area named after the late Councillor Tovey himself. The area will boast 12 hectares of meadow, 5 hectares of forest, 8 hectares of wetland and a hectare of cobble beach. Together, these connected habitats make up a complete coastal ecosystem, capable of supporting a wide variety of local fish and wildlife, as well as migrating birds.
While it will take a few years to come to life, Lakeview Village holds great promise and inspiration for an more more vibrant and welcoming Mississauga.