Mississauga City Council has approved a by-law to authorize an agreement outlining community benefits and affordable housing requirements at the Lakeview Village development currently underway on the waterfront.

Since the project launched in 2021, site plans have been revised to increase the number of units from 8,050 to 16,000. In April 2024, a Ministerial Order was issued, requiring the City and Lakeview Community Partners Limited (LCPL) to enter into agreements to address matters including community benefits and affordable housing.

The agreement now includes the following provisions:

• Community benefits: LCPL will provide a contribution of $28 million to support the reconstruction of the Lakeview Village Pier. This is in addition to the $14 million committed through a community benefits agreement related to the first 8,050 units on the site.
• More affordable housing: Five per cent of all units constructed beyond 8,050 units – up to 16,000 units – will be affordable and a further five per cent will be for a mix of types and tenure, including  shared equity mortgage or market rental.

“Mixed housing is one of the City’s top priorities,” said Mississauga Mayor, Carolyn Parrish. “It’s essential we continue to speed up the process. I’m pleased we now have the necessary agreements in place to make Lakeview Village a showpiece of urban design. The village is creating a liveable, walkable waterfront community with interesting parks, an iconic pier and an innovative employment hub.”

The first residential development blocks are now approved for construction. In addition, park designs and development plans for the Lakeview Village pier and the Lakeshore bus rapid transit corridor have been approved. Next steps for the City include working with the province and LCPL to enable the construction of “a necessary” municipal parking structure to address the increased density for the area.

“We’re another step closer to opening up our waterfront for a new generation to live and work in Mississauga,” said Geoff Wright, City Manager and CAO, City of Mississauga. “I’m pleased that LCPL has committed to ensuring the area has the parks, cultural facilities, and mix of housing the community needs to support more homes on the site. Lakeview Village is happening!”

Visit Lakeview Village for more info.