{"id":952788,"date":"2026-10-31T05:58:18","date_gmt":"2026-10-31T05:58:18","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/952788\/"},"modified":"2026-10-31T05:58:18","modified_gmt":"2026-10-31T05:58:18","slug":"edenshaw-starts-30-storey-rental-tower-in-mississaugas-port-credit-renx","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/952788\/","title":{"rendered":"Edenshaw starts 30-storey rental tower in Mississauga’s Port Credit \u2022 RENX"},"content":{"rendered":"

\"\"\/
\nFrom left, Oscar Piovesan, chief operating officer of Edenshaw; David McComb, president, CEO and founder of Edenshaw at the groundbreaking ceremony of 23 Elizabeth St. (Courtesy Edenshaw Developments)<\/p>\n

Edenshaw Developments<\/a> has started construction on a 30-storey apartment building that is virtually on the doorstep of the Port Credit GO Station and its head office, a project joining the boom<\/a> in purpose-built rentals.<\/p>\n

Located at 23 Elizabeth St. N and 42-46 Park St. E, the 315-unit project is the Mississauga-based highrise developer\u2019s first purpose-built rental since 2016, namely Alto in Toronto.<\/p>\n

Featuring one-bedroom, one-bedroom-plus-den and two-bedroom units, the apartment in the Mississauga neighbourhood of Port Credit is built for long-term living and families with its suite sizes and amenities such as wellness and fitness options and pet-friendly spaces.<\/p>\n

Edenshaw acquired the site for its \u201cexcellent\u201d transit connections, including the Hurontario Light Rail Transit system that is currently under construction, and walkability to commercial, dining, retail and recreational choices in the Port Credit area, Oscar Piovesan, its chief operating officer, said in an interview with RENX.<\/p>\n

\u201cKnowing what the demand for housing is in the (Greater Toronto Area), we thought it was a good idea,\u201d he said.<\/p>\n

The post-COVID condo boom has flatlined in the Greater Toronto Area, but Edenshaw forecasts high demand for purpose-built rentals in the aftermath, Piovesan said. Edenshaw\u2019s upcoming development is in \u201cthe perfect place\u201d to ride the wave, he added.<\/p>\n

Development aimed at families, working professionals<\/p>\n

Of the 315 units, 31 per cent are one-bedroom, 23 per cent are one-bedroom plus den and 46 per cent are two-bedroom.<\/p>\n

Piovesan declined to outline expected monthly rents at the apartment. Data from RentalRealty.ca shows<\/a> median monthly rent for a one-bedroom unit over the last 12 months in Port Credit at $2,150 and $2,600 for a two-bedroom unit.<\/p>\n

The close proximity to public transit is expected to attract young professionals and young families to the development. Unit layouts can accommodate couples with one to two children, Piovesan said.\u00a0<\/p>\n

Amenities, sustainability<\/p>\n

23 Elizabeth St. is to have a gym, cold plunge tub and infrared sauna as its wellness and fitness amenities. Joining those are co-working and social spaces, terraces with barbecues, a pet spa and an outdoor dog run.<\/p>\n

Edenshaw is aiming 23 Elizabeth St. to be \u201cvery much like any other condominium building that\u2019s been recently built\u201d with its amenities, finishes and design. \u201cWe\u2019re not going lower quality or a different team or a different concept or mindset,\u201d Piovesan said.<\/p>\n

The Port Credit area is well-established with many businesses and restaurants, with parks and access to the lakefront also nearby. Downtown Mississauga, including the Square One mall, are approximately 20 minutes away by car and 40 minutes by bus. Downtown Toronto can be reached in about 30 minutes via GO train.<\/p>\n

A standout sustainability element of the building is the inclusion of a geoexchange system that can heat and cool the building. This is designed to reduce the building\u2019s carbon emissions when compared to a similar building powered by natural gas.<\/p>\n

Additionally, Edenshaw is targeting LEED certification for the building and to meet the Canada Mortgage and Housing Corporation\u2019s Energy Efficiency Level 3.\u00a0<\/p>\n

Occupancy is slated to take place in April 2029.<\/p>\n

23 Elizabeth St. would be nearby Edenshaw\u2019s two condos in Port Credit \u2013 Westport and Tanu. \u201cWe have a deep sense of belonging to this community,\u201d Piovesan said.<\/p>\n

Apartment demand expected to surge<\/p>\n

Edenshaw is confident 23 Elizabeth St. will be open to residents at a time of elevated demand for highrise rental housing.<\/p>\n

The condo slowdown has led to a glut of unsold units, which applied downward pressure on rents, Piovesan said. Condo development has plunged<\/a> in Toronto, which means by 2028 to 2029, Edenshaw anticipates a severely constrained supply of highrise apartments.<\/p>\n

\u201cThat\u2019s going to create a situation where the fundamentals for the rental market are going to remain strong,\u201d Piovesan said.<\/p>\n

To leverage this forecast, Edenshaw has plans for another purpose-built rental building in Mississauga, a highrise close to the City Centre which is centred around Square One. The developer has more land holdings in its pipeline as well, Piovesan said.<\/p>\n","protected":false},"excerpt":{"rendered":"From left, Oscar Piovesan, chief operating officer of Edenshaw; David McComb, president, CEO and founder of Edenshaw at…\n","protected":false},"author":2,"featured_media":952789,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[194297],"tags":[49,48,55405],"class_list":["post-952788","post","type-post","status-publish","format-standard","has-post-thumbnail","category-mississauga","tag-ca","tag-canada","tag-mississauga"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/952788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=952788"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/952788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/952789"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=952788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=952788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=952788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}