MISSISSAUGA, ONT. \u2013 Mississauga City Council has announced it is onboard with a major re-envisioning of 12 acres of city-owned land next to city hall.<\/p>\n
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.<\/p>\n
It also features a new nine-storey office building and 20-storey purpose-built rental development with \u201catrium-style retail space along a re-designed pedestrian-friendly Princess Royal Drive.\u201d<\/p>\n
There will also be a signature Sky Park with an elevated open space and a more programmable Community Common urban park.<\/p>\n
\u00a0<\/p>\nCITY OF MISSISSAUGA \u2014 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.<\/figcaption><\/figure>\n
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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.<\/p>\n
\u201cWhile the LAC remains a cornerstone of Mississauga\u2019s cultural infrastructure, the building is outdated and requires significant investment to make it viable to meet the needs of a modern city,\u201d the release adds.<\/p>\n
The area is also ideal for linking to the city\u2019s Civic Centre area, including Sheridan College as well as several transit lines.<\/p>\n
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.<\/p>\n
Staff will now develop a project plan including required technical analysis, business case studies and a financial strategy for project delivery.<\/p>\n
As the project advances, residents, businesses and partners will be invited to help refine the vision, the release notes.<\/p>\n
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.<\/p>\n
City staff will provide an update in June.<\/p>\n<\/p><\/div>\n
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