MISSISSAUGA, ONT. – Mississauga City Council has announced it is onboard with a major re-envisioning of 12 acres of city-owned land next to city hall.
The vision is anchored by a 400,000- to 500,000-square-foot conference centre, a 400-room hotel with 1,500 to 3,000 underground parking spaces, a music hub with a 2,500 to 5,000 capacity performance venue, recording studios and a music school, explains a release.
It also features a new nine-storey office building and 20-storey purpose-built rental development with “atrium-style retail space along a re-designed pedestrian-friendly Princess Royal Drive.”
There will also be a signature Sky Park with an elevated open space and a more programmable Community Common urban park.
CITY OF MISSISSAUGA — There will also be a 400,000- to 500,000-square-foot conference centre, a 400-room hotel with 1,500 to 3,000 underground parking spaces, a music hub with a 2,500 to 5,000 capacity performance venue, recording studios and a music school. It also features a new nine-storey office building and 20-storey purpose-built rental development with atrium-style retail space.
The redevelopment site includes the Living Arts Centre (LAC) and four other parcels of city-owned land that are currently used as parking lots and underutilized open space.
“While the LAC remains a cornerstone of Mississauga’s cultural infrastructure, the building is outdated and requires significant investment to make it viable to meet the needs of a modern city,” the release adds.
The area is also ideal for linking to the city’s Civic Centre area, including Sheridan College as well as several transit lines.
In order for the vision to come to fruition, the redevelopment underwent a technical, financial and cultural analysis including a hotel and convention centre feasibility study, land appraisals and development analysis.
Staff will now develop a project plan including required technical analysis, business case studies and a financial strategy for project delivery.
As the project advances, residents, businesses and partners will be invited to help refine the vision, the release notes.
The build-out is expected to result in 28,000 job-years in construction trades, engineering and professional services as well as indirect local employment for a total of $4 billion in economic output.
City staff will provide an update in June.