Oxford Properties and Alberta Investment Management Corporation unveiled a project named Square One District last month which will transform the parking lots and land surrounding Square One. Square One District is planned to become an 18-million square foot mixed-use neighbourhood. This will make it the largest mixed use development in Canadian History.
Aerial view of The Strand, with Transit Mobility Hub in the foreground connected to the Hurontario LRT (CNW Group/Oxford Properties Group Inc.)
The area surrounding Square One has already seen a transformation over the past decade becoming a prominent urban hub. This development will further transform the area into a vibrant and walkable community. The development will include residential and office buildings. Additionally, a transit hub will be constructed to connect to the new Hurontario LRT. Community buildings, parks, and green space are also included.
Eric Plesman the Executive Vice President and Head of North America for Oxford Properties said in a statement:
“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.”
Sales for the first phase of the condominium component start this spring and will offer residents exclusive partnerships and services with Square One Shopping Centre. The construction of phase one of housing will start later this year. “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,” added Mark Cote, Oxford Properties’ Head of Development.