Mississauga's $44 Million Boost: 1400 new rental units!
Table of Contents
1400 new rental units: A Comprehensive Housing Solution
The City of Mississauga has unveiled a groundbreaking initiative to tackle its housing challenges, committing $44 million to create over 1,400 new rental units across eight strategic developments. This ambitious project represents a significant leap forward in addressing the city’s affordable housing crisis.
The Mayor’s Vision: Addressing Housing Insecurity
Mayor Carolyn Parrish emphasized the transformative nature of the investment, stating, “We’re providing real solutions for residents struggling to find secure and affordable housing.” The bold statement underscores the city’s commitment to making housing accessible for all its residents.
The Affordable Rental Housing Incentive Program: Key Details
Financial Incentives Breakdown
The program, approved by Mississauga City Council in July 2024, offers substantial financial support to developers:
- $130,000 grant per affordable unit
- $60,000 grant per below-market unit
- Additional waivers and municipal fee grants
Program Highlights
- Funded partially by the federal Housing Accelerator Fund
- Targets shovel-ready projects
- Focuses on construction within two years
- Ensures long-term affordability for 25 years
Strategic Development Locations
The approved projects span six Mississauga wards, featuring a diverse range of developments:
- 4150 Westminster Place: 70 affordable units
- 3233 Brandon Gate Drive: 85 below-market units
- 6020 Winston Churchill Boulevard:
- 14 affordable units
- 8 below-market units
- 45 Agnes Street/3051 Cook Street: 30 below-market units
- 4094 Tomken Road: 78 affordable units
- 2512 Argyle Road: 7 affordable units
- Ninth Line Developments: 65-100 affordable units
- 596 Lolita Gardens: 27 affordable units
Breaking Down the Numbers
Project Impact
- Total new rental units: 1,450
- Affordable units: 261
- Below-market units: 123
- Family-sized units (2+ bedrooms): 200
Context: Mississauga’s Housing Landscape
Historical Housing Challenges
Since 2005, Mississauga has added only 2,200 new rental units, with most residential growth focused on condominiums. These developments often lack the stability of purpose-built rental housing, creating uncertainty for tenants.
Expert Perspective
Andrew Whittemore, Commissioner of Planning and Building, noted the program’s significance: “The strong interest from both non-profit and private sector developers shows that financial incentives can be a powerful tool to stimulate construction during a housing crisis.”
Developer Spotlight
Kindred Works, developing the Tomken Road project, shared their vision: “Our project will feature a lush urban landscape and carbon-free operations creating beautiful, healthy, and resilient homes built for the future.”
Next Steps
Implementation Timeline
- Continue working with developers
- Ensure project eligibility
- Secure building permits
- Release funding approximately one month after permit issuance
Conclusion
Mississauga’s $44 million investment marks a critical step in addressing housing affordability. By providing targeted financial support and prioritizing purpose-built rental units, the city is actively working to create more stable, accessible housing options for its residents.
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