Artist’s conception of The Strand, the transit-connected and pedestrian-friendly heart of Square One District. (Courtesy Oxford Properties)
Oxford Properties Group and AIMCo have unveiled what will be the largest mixed-use downtown development in Canadian history, the 130-acre Square One District. The project is named after the shopping centre at the heart of the 18-million-square-foot Mississauga development.
What is today acres of parking lots will be transformed into a “vibrant community” of more than 18,000 residential units, a transit mobility hub connected to the Hurontario LRT, community buildings, parks, green spaces and office space. The project will be anchored by Square One Shopping Centre, one of the best-performing malls in Canada.
Bounded by Burnhamthorpe, Confederation Parkway, Highway 403 and City Centre, Square One District is planned as a multi-phase, multi-decade project which will develop with the needs of the City of Mississauga.
“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,” saidd Eric Plesman, executive vice-president and head of North America for Oxford Properties, in a release Tuesday.
“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.
“It will be a place where business, life and leisure can come together as one.”
(The development is also being announced at a major event at Square One. RENX’s Steve McLean is in attendance, and will file a full story later today, so watch for updates.)
Daniels a partner in housing towers
To deliver the first phase of housing, Oxford and AIMCo are partnering with The Daniels Corporation to construct two residential towers with 402 rental apartments and 575 condominium suites.
Located at the southeast corner of Rathburn Road and Confederation Parkway, The Rental Residences and The Condominiums of Square One District will be 36 and 48 storeys, respectively, with construction to start in summer 2020.
With a rental housing shortage in the Greater Toronto Area, over half of the more than 18,000 residential units to be built are planned as rental apartments.
The heart of Square One District will be The Strand, a pedestrian-friendly, connected civic space anchored by a transit hub and community park. It will be connected to both the Hurontario LRT and local rapid bus transit.
With its residential, retail and office uses alongside public amenities, Square One District aligns with the city’s vision to create a vibrant downtown core for Mississauga.
“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,” said Mark Cote, Oxford Properties’ dead of development for Canada, in the release.
“Square One District is about creating a true mixed-use community.
“We will work collaboratively with the city and its residents to build a vibrant downtown that meets the evolving needs and aspirations of Mississauga for generations to come.
“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.”
Square One District anchor
Map view of 130-acre Square One District and the surrounding area in Mississauga.(Courtesy Oxford Properties)
Square One District is anchored by the Square One Shopping Centre which attracts 25 million shopping visits annually and has seen more than $500 million in improvements over the past five years.
The most recent redevelopment includes the 34,000-square-foot Food District, an artisanal food market featuring an array of speciality products, restaurants, tastings and cooking events. Square One now boasts approximately 100 bars, restaurants and eateries including the new Rec Room with its ‘eats and entertainment’ concept.
Office space will play an important role in turning Square One District into a true, large-scale mixed-use project, Oxford’s release states. The new office towers will be the first commercial development in downtown Mississauga in a generation.
Oxford will begin marketing the first office tower to prospective tenants in Q2 2020.
Sales for the first condominium tower will also start this spring.
“Oxford and AIMCo’s plan for Square One District recognizes the important role housing plays in creating a holistic and healthy urban community, and we are thrilled that they have trusted Daniels to deliver on the critical first phase,” said Niall Haggart, executive vice-president, The Daniels Corporation, in the release.
“Daniels has an outstanding history of bringing master-planned communities to life that go above and beyond the traditional approach to development. We welcome the opportunity to continue to build on our 15-year history in Mississauga’s City Centre.”
About Oxford Properties Group
Oxford Properties Group manages approximately $60 billion Cdn of assets across the globe on behalf of its co-owners and investment partners.
Oxford’s portfolio encompasses office, retail, industrial, hotels and multifamily residential and spans more than 100 million square feet in global gateway cities across four continents.
With its global headquarters in Toronto, Oxford operates out of over 15 regional offices including New York, London, Luxembourg, Singapore and Sydney.
Oxford is owned by OMERS, the defined benefit pension plan for Ontario’s municipal employees.
About AIMCo
AIMCo is one of Canada’s largest and most diversified institutional investment managers with more than $115 billion of assets under management.
AIMCo was established on Jan. 1, 2008 and operates at arms-length from the Government of Alberta, investing globally on behalf of 31 pension, endowment and government funds in the Province of Alberta.
AIMCo’s $20.2-billion real estate portfolio includes core strategy assets, comprising long-term, direct investments in quality office, retail, industrial and multi-unit residential properties located in Canada’s major cities, and foreign program assets, comprising opportunistic investments targeted to quality real estate assets, in markets with long-term growth characteristics, and supported by strong local management teams.
About The Daniels Corporation
The Daniels Corporation is one of Canada’s pre-eminent builders/developers, building more than 30,000 new homes and rental residences across the Greater Toronto Area for over 35 years.
Daniels is the 2019 recipient of Tarion Warranty Corporation’s prestigious Ernest Assaly Award and has been recognized as the “Ontario High Rise Builder of the Year” numerous times.
Daniels has a legacy for creating master-planned landmark communities such as TIFF Bell Lightbox and Festival Tower in Toronto’s Entertainment District, Daniels City Centre in Mississauga’s downtown core as well as Daniels Spectrum and the Regent Park Revitalization in Toronto’s Downtown East.
MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.
Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.
Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.
She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.
The two brokers were suspended in May 2023 after La Presse published an article about their practices.
One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.
This report by The Canadian Press was first published Sept. 11, 2024.
MONTREAL – The Quebec Professional Association of Real Estate Brokers says Montreal-area home sales rose 9.3 per cent in August compared with the same month last year, with levels slightly higher than the historical average for this time of year.
The association says home sales in the region totalled 2,991 for the month, up from 2,737 in August 2023.
The median price for all housing types was up year-over-year, led by a six per cent increase for the price of a plex at $763,000 last month.
The median price for a single-family home rose 5.2 per cent to $590,000 and the median price for a condominium rose 4.4 per cent to $407,100.
QPAREB market analysis director Charles Brant says the strength of the Montreal resale market contrasts with declines in many other Canadian cities struggling with higher levels of household debt, lower savings and diminishing purchasing power.
Active listings for August jumped 18 per cent compared with a year earlier to 17,200, while new listings rose 1.7 per cent to 4,840.
This report by The Canadian Press was first published Sept. 6, 2024.
In the quest to find cities where renters can enjoy the best of all worlds, a recent study analyzed 24 metrics across three key categories—Housing & Economy, Quality of Life, and Community. The study ranked the 100 largest cities in Canada to determine which ones offer the most to their renters.
Here are the top 10 cities that emerged as the best for renters in 2024:
St. John’s, NL
St. John’s, Newfoundland and Labrador, stand out as the top city for renters in Canada for 2024. Known for its vibrant cultural scene, stunning natural beauty, and welcoming community, St. John’s offers an exceptional quality of life. The city boasts affordable housing, a robust economy, and low unemployment rates, making it an attractive option for those seeking a balanced and enriching living experience. Its rich history, picturesque harbour, and dynamic arts scene further enhance its appeal, ensuring that renters can enjoy both comfort and excitement in this charming coastal city.
Sherbrooke, QC
Sherbrooke, Quebec, emerges as a leading city for renters in Canada for 2024, offering a blend of affordability and quality of life. Nestled in the heart of the Eastern Townships, Sherbrooke is known for its picturesque landscapes, vibrant cultural scene, and strong community spirit. The city provides affordable rental options, low living costs, and a thriving local economy, making it an ideal destination for those seeking both comfort and economic stability. With its rich history, numerous parks, and dynamic arts and education sectors, Sherbrooke presents an inviting environment for renters looking for a well-rounded lifestyle.
Québec City, QC
Québec City, the capital of Quebec, stands out as a premier destination for renters in Canada for 2024. Known for its rich history, stunning architecture, and vibrant cultural heritage, this city offers an exceptional quality of life. Renters benefit from affordable housing, excellent public services, and a robust economy. The city’s charming streets, historic sites, and diverse culinary scene provide a unique living experience. With top-notch education institutions, numerous parks, and a strong sense of community, Québec City is an ideal choice for those seeking a dynamic and fulfilling lifestyle.
Trois-Rivières, QC
Trois-Rivières, nestled between Montreal and Quebec City, emerges as a top choice for renters in Canada. This historic city, known for its picturesque riverside views and rich cultural scene, offers an appealing blend of affordability and quality of life. Renters in Trois-Rivières enjoy reasonable housing costs, a low unemployment rate, and a vibrant community atmosphere. The city’s well-preserved historic sites, bustling arts community, and excellent educational institutions make it an attractive destination for those seeking a balanced and enriching lifestyle.
Saguenay, QC
Saguenay, located in the stunning Saguenay–Lac-Saint-Jean region of Quebec, is a prime destination for renters seeking affordable living amidst breathtaking natural beauty. Known for its picturesque fjords and vibrant cultural scene, Saguenay offers residents a high quality of life with lower housing costs compared to major urban centers. The city boasts a strong sense of community, excellent recreational opportunities, and a growing economy. For those looking to combine affordability with a rich cultural and natural environment, Saguenay stands out as an ideal choice.
Granby, QC
Granby, nestled in the heart of Quebec’s Eastern Townships, offers renters a delightful blend of small-town charm and ample opportunities. Known for its beautiful parks, vibrant cultural scene, and family-friendly environment, Granby provides an exceptional quality of life. The city’s affordable housing market and strong sense of community make it an attractive option for those seeking a peaceful yet dynamic place to live. With its renowned zoo, bustling downtown, and numerous outdoor activities, Granby is a hidden gem that caters to a diverse range of lifestyles.
Fredericton, NB
Fredericton, the capital city of New Brunswick, offers renters a harmonious blend of historical charm and modern amenities. Known for its vibrant arts scene, beautiful riverfront, and welcoming community, Fredericton provides an excellent quality of life. The city boasts affordable housing options, scenic parks, and a strong educational presence with institutions like the University of New Brunswick. Its rich cultural heritage, coupled with a thriving local economy, makes Fredericton an attractive destination for those seeking a balanced and fulfilling lifestyle.
Saint John, NB
Saint John, New Brunswick’s largest city, is a coastal gem known for its stunning waterfront and rich heritage. Nestled on the Bay of Fundy, it offers renters an affordable cost of living with a unique blend of historic architecture and modern conveniences. The city’s vibrant uptown area is bustling with shops, restaurants, and cultural attractions, while its scenic parks and outdoor spaces provide ample opportunities for recreation. Saint John’s strong sense of community and economic growth make it an inviting place for those looking to enjoy both urban and natural beauty.
Saint-Hyacinthe, QC
Saint-Hyacinthe, located in the Montérégie region of Quebec, is a vibrant city known for its strong agricultural roots and innovative spirit. Often referred to as the “Agricultural Technopolis,” it is home to numerous research centers and educational institutions. Renters in Saint-Hyacinthe benefit from a high quality of life with access to excellent local amenities, including parks, cultural events, and a thriving local food scene. The city’s affordable housing and close-knit community atmosphere make it an attractive option for those seeking a balanced and enriching lifestyle.
Lévis, QC
Lévis, located on the southern shore of the St. Lawrence River across from Quebec City, offers a unique blend of historical charm and modern conveniences. Known for its picturesque views and well-preserved heritage sites, Lévis is a city where history meets contemporary living. Residents enjoy a high quality of life with excellent public services, green spaces, and cultural activities. The city’s affordable housing options and strong sense of community make it a desirable place for renters looking for both tranquility and easy access to urban amenities.
This category looked at factors such as average rent, housing costs, rental availability, and unemployment rates. Québec stood out with 10 cities ranking at the top, demonstrating strong economic stability and affordable housing options, which are critical for renters looking for cost-effective living conditions.
Québec again led the pack in this category, with five cities in the top 10. Ontario followed closely with three cities. British Columbia excelled in walkability, with four cities achieving the highest walk scores, while Caledon topped the list for its extensive green spaces. These factors contribute significantly to the overall quality of life, making these cities attractive for renters.
Victoria, BC, emerged as the leader in this category due to its rich array of restaurants, museums, and educational institutions, offering a vibrant community life. St. John’s, NL, and Vancouver, BC, also ranked highly. Québec City, QC, and Lévis, QC, scored the highest in life satisfaction, reflecting a strong sense of community and well-being. Additionally, Saskatoon, SK, and Oshawa, ON, were noted for having residents with lower stress levels.
For a comprehensive view of the rankings and detailed interactive visuals, you can visit the full study by Point2Homes.
While no city can provide a perfect living experience for every renter, the cities highlighted in this study come remarkably close by excelling in key areas such as housing affordability, quality of life, and community engagement. These findings offer valuable insights for renters seeking the best places to live in Canada in 2024.
