New owners of the 4.5-acre Mississauga YMCA site are promising future redevelopment that will make a statement in the city’s skyline. RGF (Mississauga) Developments Inc. closed the deal for the building and adjacent parking last month, but has leased it back to the YMCA for continued operations.
The company, an arm of HBNG Holborn Group, is an investor with the Muzzo Group in two proposed high-rise condominium projects in Toronto and has interests in other low-rise and mid-rise residential and mixed-use developments in the Greater Toronto Area. It’s now expounding plans for phased development of multiple mixed-use towers with ground-level retail on the YMCA site at the north east corner of Burnhamthorpe Road West and Confederation Parkway.
That’s expected to fit with the transit-oriented development vision for the Mississauga City Centre, including intensification along the Hurontario LRT route. The new transit line, covering an 18-kilometre, 19-station stretch from the Port Credit GO station to the Brampton Gateway Terminal, is currently under construction and scheduled to open in 2024.
“Mississauga City Centre is primed for tremendous growth and connectivity in the coming years,” says John A. D’Angelo, president of RGF and chief executive officer of HBNG Holborn Group. “Peel Region is projected to reach 2 million residents by 2041, thus we see this as an excellent opportunity to add to the much-needed housing supply of the region.”