The Hurontario & Eglinton Corridor ExpansionWritten by Eric Skicki Tuesday, June 25th, 2019
The popular corner just minutes from Square One is a busy one. The Pinnacle International community is busy developing new condos and they are not stopping anytime soon.
This area has already seen some changes over the last few years, such as growing businesses, new businesses, re-modelling the plazas and so much more.
Not too long ago, LA Fitness became the new household name and is doing quite well for itself. Now a new development is being proposed for the large parcel of land that just sits empty. The project is said to sit at 91, 131 Eglinton Ave E and 5055 Hurontario Street if given the green light from the city to build.
The proposal comes from Glen Schnarr and Associates for a 6 Tower Project ranging in height from 28 storeys to 45 storeys tall, 14 – 3storey townhomes, a park and also 4 – 3 storey common element condo townhomes. The proposal only asks for residential space at the moment.
It is unclear if the 6 towers will follow others in their footsteps and add commercial space at the bottom or truly make it just for residents. Along with the community proposal, are proposals for widening Eglinton to accommodate the increase of traffic and extending Thornwood Drive.
The developer for the site is Liberty Development Corporation who builds a lot of condos in North Toronto/Richmond Hill and area.
Is That Corridor Getting Too Busy?
It is evident that all of the city center is getting busy, just like any other major city. We have to keep in mind that no city wants to sit on vacant land, especially prime real estate land. Any new community contributes to the city by paying property taxes. This, in turn, helps the city fix roads, plant new trees and so much more.
Also, these new developments promise to add more parks and newer parks, roads, pedestrian walkways and even commercial space like the exchange district to accommodate the ever-growing city. All this improves the city as a whole. Mississauga lacks pedestrian walkways, hotels, boutiques, cafes and restaurants to bring the city together.
Looking at any major metropolitan, it has all that in place. We also got to keep in mind that these changes and development plans have been put in place a long time ago when the proposal of the master downtown Mississauga 21 plan came together. This is by no means a brand new idea. The city is changing and becoming denser.
But this is also creating more jobs and more residence for people to live in. Regardless of what happens to the LRT, Mississauga is ever growing. The only thing as proposed by this development is to widen streets to allow for more traffic and cars.
Will This Be A Good Buy?
Although there are no floor plans, prices or completion date in mind, this intersection is just as popular as downtown Square One. Some like it better as they are away from the hustle and bustle that the downtown core brings.
It also offers banks, a gym, some retailers (Shoppers Drug Mart, Toys R Us etc), restaurants, a food market (Oceans) and easy access to the 403 to take you in and out of the city. The neighbourhood also offers good schools and parks, making this corridor a hot buy.
If you just look at the current developing community by Pinnacle, both the pre-con units and the resale units are moving fast and we anticipate this new project to do very well once it’s released.
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Tuesday, June 25th, 2019 and is filed