In an effort to address the increasing demand for much needed housing across the country, the Government of Canada has created a Public Land Bank mapping tool with the intent to identify available public lands across the country for future development. This tool highlights several Canada Lands Company properties that will be utilized to provide housing where it is needed most, including one parcel at 1 Port Street East per the following:
• 1 Port Street East (7.4 hectares/18.3 acres) - set to enable approximately 1,200-1,500 housing units
PROPERTY BACKGROUND INFORMATION
The site, located in the City of Mississauga includes 7.4 hectares (18.3 acres) of development land and a water lot of 20 hectares (49 acres). The site is currently subject to a head lease to a private tenant that operates the Port Credit Harbour Marina, occupying a wharf shed and slippage for up to 500 boats.
After extensive consultation with the community and the Town of Port Credit Community Association, the City of Mississauga approved a master plan for the site in 2016 and the related Official Plan Amendment in 2017. The plan outlines a vision for the site’s redevelopment, including mixed-use residential and commercial space, a new public marina, parks, a waterfront trail and enhanced public access to the waterfront, and other place-making opportunities. There is an affordable housing component and a desire for creative industry workspaces. The City of Mississauga and CLC also entered into an agreement that will see the City take possession of the water lot, the breakwater and an upland parcel on which to establish a public marina by 2027. The City of Mississauga is currently undertaking an Environmental Assessment (EA) for its proposed public marina project and has initiated efforts to secure government funding.
Canada Lands Company is in discussions with the Mississaugas of the Credit First Nation (MCFN) regarding a potential joint-venture of the 1 Port project that will see the MCFN take an ownership interest in the site. Canada Lands and MCFN are currently negotiating a Letter of Intent and will look to jointly develop the lands.
