Massive new innovation district will bring 9,000 jobs to Mississauga
The 'Ontario Innovation Corridor' is becoming more and more of an actual thing (beyond chamber of commerce campaign documents) as developers build out the GTA with high-tech companies and jobs in mind.
Mississauga's forthcoming Lakeview Village is a prime example of this phenomenon in action, and one of the largest "smart, future-ready" mixed-use developments of its kind being built in the Toronto area (now that Sidewalk Labs has cancelled Toronto's Quayside, that is.)
Ambitious both in scope and ethos, the 177-acre waterfront community is eventually meant to serve as "a model for sustainable mixed-use developments across Canada," similar to the aforementioned "futuristic mini-city" in Toronto's Port Lands.
When the Lakeview Village project was first announced, developers promised roughly 8,000 new housing units with room for some 20,000 residents, as well as 200,000 square feet of retail space and a whole host of cool parks and community spaces.
We've known for well over a year that a staggering 1.8 million square feet of office space was being worked into the greater village, which will eventually replace a decommissioned coal plant at 1300 Lakeshore Rd. E.
It wasn't until this week, however, that the project team announced its formal plans for what they call "a state-of-the-art Innovation District that aims to become the largest hub for technology, innovation and research in Canada."
Now projected to accommodate over 1.9 million square feet of "employment space," the Innovation District will be integrated into the broader Lakeview Village community, which itself falls right in the heart of the aforementioned Toronto-Waterloo Region tech corridor.
"As a central hub for research, the Innovation District will stimulate a thriving business community that attracts and retains a diverse pool of talent, creating an environment for people to develop cutting-edge solutions that drive global change," wrote developers in a release announcing the district on Wednesday.
"It will be a uniquely attractive hub for inventors and academics to conduct research while enabling potential partnerships with post-secondary and environmental institutions."
Expect lots of open concept co-working spaces, flexible-use offices and collaborative event spaces to connect tenants with potential partners. More than 20 acres of the site will be dedicated to "campus, culture and innovation," according to the release.
"With its striking and timeless architectural design, open space working environment, proximity to integrated transit routes, a thriving retail community and the waterfront, Lakeview's Innovation District will act as a magnet for high-tech firms, technology incubators and entrepreneurs," explain the developers.
And with all of those big tech companies will come many high-paying, long-term jobs: At least 9,000 of them, if current estimates prove accurate.
"We believe that an investment in infrastructure is an investment in talent, industry and business,” said Argo Development Corporation VP Brian Sutherland, who is the development lead for Lakeview Village.
"With flexible office space, co-working space, and state-of-the-art facilities, the Innovation District is not only integral to our vision for the future of the community, but a critically important element that supports the growing City of Mississauga, the broader region and Canada at large."
An estimated completion date for the project has yet to be lobbed, but judging by how large and complex this new mini-city is expected to be, it'll be a while before all of the software engineers and data scientists move in.
The firms behind Lakeview Village are currently still in the process of building a Discovery Centre (read: condo sales presentation office) at the site.
Rendering by Cicada Design Inc., courtesy of Lakeview Community Partners Limited.
Join the conversation Load comments