MISSISSAUGA, ON, May 1, 2017 /CNW/ - West Village Partners ("WVP") is pleased to announce that it has concluded the purchase of the 72-acre former industrial site at 70 Mississauga Road South in Port Credit. WVP is looking forward to working with the Port Credit residents and stakeholders on a plan to transform these lands into a complete, vibrant and diverse waterfront community where people can live, work and play. This development has been long anticipated and will be a harmonious and supportive complement to Port Credit.
WVP is a joint venture of four leading Canadian developers and city builders: Kilmer Group, Dream Unlimited Corp, Diamond Corp, and FRAM + Slokker.WVP has developed a mixed-use master plan that builds upon the principles of the City of Mississauga's Inspiration Port Credit vision and recognizes the importance of thoughtfully integrating with the vibrant neighbourhoods of Port Credit.
"We're determined to deliver a special community that will raise the bar for architectural and design excellence and to transform this section of the Port Credit shoreline into a dynamic waterfront community with places to live, work, shop and play," said WVP Spokesperson Ken Tanenbaum, Vice Chairman of Kilmer Group, who was speaking at an event unveiling the draft master plan today in Mississauga.
The event was attended by Mississauga Mayor Bonnie Crombie, Councillor Jim Tovey, Mississauga City Manager/CAO Janice Baker and a broad cross section of the Port Credit community.
"Today is another important milestone for the historic and charming waterfront community of Port Credit. The unveiling of the draft plan for this new development is proof that Mississauga is a city in demand and that people continue to choose Mississauga to raise a family, find a well-paying job and enjoy an unrivalled quality of life. Let me acknowledge all staff, Council, business leaders and community partners who have worked together to make this plan a reality," said Mayor Crombie.
WVP's master plan is dedicated to revitalizing the 72-acre site in a manner that will fulfill important city building objectives of architectural excellence, connectivity, high quality public realm, community gathering spaces, and a series of parks that collectively enhance the Mississauga waterfront experience—all informed by a thoughtful environmental strategy.
WVP is committed to transparent communications and engagement with the public, elected officials, City Staff and all stakeholders. Following in our tradition of working with the public in the development of our projects, later this spring the WVP will hold the first of what we anticipate will be a series of public meetings to engage with the community in delivering an extraordinary landmark development for the City of Mississauga.
For more than three decades the landmark property at 70 Mississauga Road South on the Lake Ontario shore in Mississauga has sat idle with residents wondering when and how it could be brought to life. In December 2016, West Village Partners (WVP) was selected by Imperial Oil as the winning bidder after a robust RFP process to purchase the 72-acre lakefront property and concluded the purchase in March 2017.
WVP's development draft master plan proposal aspires to transform the former industrial site into a complete, vibrant and diverse waterfront community where people can live, work and play—a harmonious and supportive complement to Port Credit.
WVP is dedicated to revitalizing the 72-acre site in a manner that will fulfill important city building objectives of architectural excellence, connectivity, high quality public realm, community gathering spaces, and a series of parks that collectively enhance the Mississauga waterfront experience—all informed by a thoughtful environmental strategy.
THE SITE: 70 Mississauga Road South
- 72 acres (29.1 hectares)
- Brickworks from the late 19th Century until 1927
- Oil refinery from 1932-1985
- Site decommissioning in 1988
INSPIRATION PORT CREDIT
The City of Mississauga undertook a far-reaching evaluation of the potential future of the site, with extensive outreach to the community. The report, Inspiration Port Credit (IPC) released in November 2015, described the overall vision as: "A lakefront urban neighbourhood of landscapes, meeting places, living, working, learning and drawing people to the water's edge to play." Members of WVP engaged in the IPC process from the beginning and the team embraces the vision.
HIGHLIGHTS OF WVP's DRAFT MASTER PLAN PROPOSAL:
- Approximately 2500 housing units (home to +/- 5000 residents), with a range of built form including townhomes, mid rise and high rise, maximizing views to the lake
- Approximately 200,000 square feet commercial development (both retail and office)
- Approximately 1000 jobs in construction and support services during the development process
- Estimated 1000 jobs post construction
- Estimated $17 Million realty taxes/year generated for City of Mississauga (at 2017 rates)
- A new waterfront park, with a beach and ecological gardens—all respecting and reflecting the natural shorelines of Lake Ontario and the Credit River, completing a fully connected system of waterfront parks by delivering the missing link from J.C. Saddington Park west to the Brueckner Rhododendron Gardens
- Four green corridors link the waterfront to Lakesore Road, and neighbourhood gathering places, with a series of parks, offering community amenities, sustainability, diverse vegetation, play areas and meeting points
- Proposed Community Centre-possibility of a partnership with YMCA and Evergreen in The Campus neighbourhood
- Street system designed at an angle to harmoniously blend with patterns of the existing neighbourhoods to the west and the north, adding variety and offering open views to the waterfront
- Balanced mobility choices with an intricate pedestrian network and bike routes to accommodate all forms of movement
- Rejuvenate Lakeshore Road West, creating a main street that mirrors the streetscapes east and west of the site, punctuated with trees and gathering spaces
- The Village Square Central Street Promenade is the site's vibrant central spine and promenade, with a series of street squares that will draw the main street buzz of Lakeshore Road West down into the heart of the neighbourhood and ultimately to the lake
- Site studies underway with the goal of beginning site works in fall 2017
- Subject to approvals, phased construction schedule anticipated to begin in 2019
WEST VILLAGE PARTNERS
The West Village Partners bring unparalleled experience and skills in creating vibrant, large scale mixed-use urban developments and communities. Across the team, there is successful and award-winning experience and expertise for developments in the local market of Port Credit and Mississauga, for projects requiring environmental remediation, and for large-scale legacy revitalization communities.
Kilmer Group- Based in Toronto, Kilmer has 3 generations of experience in the construction and development industry in Canada. It has a particular expertise in large-scale redevelopment of brownfields, most recently demonstrated with the construction of the Athletes Village for the Pan Am/Para Pan Am Games. www.kilmergroup.com
Dream Unlimited-TSX:DRM is a Toronto-based real estate development and management company with approximately $14 billion of assets under management in both North America and Europe. The scope of the business includes residential land development, housing and condominium development, investments in and management of Canadian renewable energy infrastructure, commercial property ownership and asset management and management services for three TSX-listed real estate investment trusts and one TSX-listed diversified, hard asset trust, (Dream Hard Asset Alternatives Trust). Dream Alternatives Trust provides an opportunity for unitholders to invest in hard asset alternative investments, including real estate, real estate lending, real estate development and infrastructure, including renewable power. http://www.dream.ca
Diamond Corp.- Established in 2008, Diamond Corp. is a Toronto-based real estate management company with a strong commitment to developing high-quality, innovative, and award-winning projects. Diamond Corp. has established itself as a leader in the region's development industry, with a focus on projects that are both sensitive to – and add value to – the communities in which they work. With a portfolio representing over 17 million square feet of gross floor area and approximately 15,000 new homes, some of Diamond Corp.'s notable projects include three major master-planned mixed-use communities throughout the GTA. Rooted in a legacy and tradition of both quality and innovation, Diamond Corp. maintains a commitment to embracing key city-building opportunities.
Fram + Slokker – Fram + Slokker is a Mississauga-based, award-winning company renowned for its creativity in planning, designing and building premier residential and mixed-use communities across Canada and the United States, including several successful projects in Port Credit. Along with its record of excellence, Fram brings a deep knowledge of the Port Credit community. http://www.framhomes.com/
SOURCE West Village Partners