Rogers gets into real estate with massive condo project
Rogers is getting into the condo game -- in a major way. Plans for a 10 tower Mississauga condo complex were revealed today for a swath of land that Ted Rogers purchased in the 1960s with the intention of building a radio transmitter there. Now it will serve as the site of the first project for Rogers Real Estate Development Limited.
To call this an ambitious start would be an understatement. According to the Toronto Star, the plot of land under development is 15 acres and the initial costs are pegged at $1.5 billion. It will also add two acres of public green space to the city of Mississauga.
This is the second massive redevelopment plan announced for Mississauga in the last few days. On Saturday, officials launched construction of a 64 acre park as part of sprawling project to transform the city's waterfront.
The Rogers development has been dubbed M City, and initial plans indicate that the developer is aiming for more than run of the mill glass towers. Architecture and design firm Cooper Robertson has dreamed up a vertical neighbourhood with buildings that mostly show off bold designs.
The venture has the clear support of Mississauga Mayor Bonnie Crombie who characterized the project as "bold" and "exciting." It will add 6,000 residential units to Mississauga's rapidly growing downtown as well as commercial space in the podiums of the towers.
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