Edenshaw Developments has partnered with Windsor Private Capital to acquire a premier transit-focused development site in what might be called Edenshaw’s own backyard. . . at the Metrolinx Port Credit Mobility Center in Mississauga.
The 1.48 acre lot is currently a parking lot on the west side of Hurontario Street, adjacent to the transit station at 30 Queen Street East. The site has previously been designated by the City of Mississauga for high density infill development due to its proximity to transit.
“It has been my home for 20 years and it’s great to be a part of growing a small community,” said David McComb, President and CEO of Edenshaw, in an interview with RENX. “For us, it’s a personal triumph. The majority of our employees are residents of Mississauga and Port Credit. Our office is a two minute walk from this location. We can live and work virtually in the same block.
Edenshaw also has several other developments underway in the area, including over 340 sold-out condo units in Westport, directly across from the transit center.
“We have over 2,700 units in development and the majority of them are within a three-minute walk of our office,” said McComb.
Ownership of the Port Credit hub
The transit hub includes the new Metrolinx Hurontario Light Rail Transit (HULRT) station, which serves as the southern terminus for the line. Currently under construction and expected to be completed in about three years, the North-South LRT will connect users to the Brampton Gateway.
It also includes the existing Port Credit GO Mobility Hub, with its connections to the Lakeshore West and Milton GO Transit service lines. Union Station in downtown Toronto is a 25-minute GO train ride.
The Metrolinx site has a unique feature. . . it is designed as the only metro station on the HULRT. It will also feature a pedestrian-friendly civic plaza component that will complement Edenshaw’s future development.
To accommodate the two projects, a one-acre portion of the site was retained by Metrolinx for the construction of the HULRT station itself.
“We are delighted to be a part of this historic project at Port Credit and to work again with Edenshaw, one of our trusted and experienced development partners,” said Rocco Marcello, President and CEO of Windsor Private Capital, in the ad.
“This project will be a great addition to the Port Credit community and to the City of Mississauga.
The acquisition, which is expected to be finalized in the fourth quarter, is the end of a long process for Edenshaw.
“Six years ago, Edenshaw was one of three consortia that were pre-approved to bid on the Port Credit Go Train station and its redevelopment,” said McComb. This was proposed as a PPP type project, but after five years of talks and negotiations, the plan was shelved.
Edenshaw is now working on its development plans. The current zoning allows two towers of 22 floors. McComb said there are no parking requirements other than what will be used by building residents and other tenants.
“For us, the focus is on high density multi-family mixed-use multi-family residences,” said McComb. “We will be looking at which mixed-uses best serve such an important terminus for the City of Mississauga.
“We’re really focused on what will keep people active and make them a vibrant part of the Village of Port Credit. “
McComb said financial details had not been released because the sale had yet to close.
He hopes to have a plan filed later this year and then spend about a year working on the eligibility and approval process.
Edenshaw active in Mississauga
The site will be Edenshaw’s fourth residential condo development in Port Credit and its fifth in Mississauga.
Edenshaw recently launched Alba Condos in Mississauga, the company’s first geothermal building, which is located a few blocks along LRT Road.
In 2016, Edenshaw delivered Alto, the first fully smoke-free, LEED Silver certified and purpose-built rental community located in the Little Portugal neighborhood of Toronto. Alto received the FRPO Rental Development of the Year award in 2016.
Westport condos are under development across from the transit site and Edenshaw’s Tanu condos a few blocks away are nearing completion and are expected to start occupancy in the fourth quarter.
In 2012, Edenshaw launched the award-winning Chaz Yorkville Condominiums, a 47-story residential development in the prestigious Yorkville neighborhood.