Slate Asset Management Furthers Commitment To Transit-oriented Mixed-use Communities in the Greater Toronto Area With Two Development Applications in Mississauga
Wednesday, January 11, 2023
Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, announced today that it is furthering its commitment to transit-oriented mixed-use communities in the Greater Toronto Area with the submission of two development applications to the City of Mississauga (the “City”) for the properties located at 2077, 2087, 2097, and 2105 Royal Windsor Drive (the “Clarkson GO Site”) and 1250 South Service Road (the “Dixie Site”).
Slate’s proposals envisage two complete, highly-accessible mixed-use communities inclusive of a range of housing forms, improved public and pedestrian spaces, and new public and private amenities.
“After years of thoughtful study and public engagement, we are very pleased to be putting forward these proposals to create two vibrant, transit-oriented mixed-use communities within Mississauga,” said Brandon Donnelly, Managing Director, Development at Slate. “We identified these sites years ago as high-impact urban infill projects where we could apply our placemaking experience to bring to life more sustainable, people-centered developments. Our objective is to unlock the inherent potential of these two sites in a way that will benefit the City and surrounding areas for years to come, adding much needed homes, exciting retail and commercial uses, enhanced walkability, and new amenities and green spaces throughout.”
Donnelly added: “There is an overwhelming need for a diversity of housing options to meet the ever-expanding housing demands that North American cities are facing. Our goal is to work collaboratively with the City and local stakeholders to bring a comprehensive vision to life that includes new mixed-income housing.”
The Dixie Site is located along the northwest boundaries of Dixie Outlet Mall and benefits greatly from the accessibility of nearby road systems and public transit routes. Slate has submitted an Official Plan Amendment and Zoning By-law Amendment to the City to redevelop 7.1-acres of the larger 35.5-acre site, currently home to the Dixie Outlet Mall, proposing the creation of a 21st century mixed-use urban garden community. Slate’s development plan is based on years of community engagement and consultant studies and will add much needed housing alongside the existing retail space, including a range of suite types and sizes designed to cater to a diverse set of incomes, ages, and life stages.
The Dixie Site plan includes three elegantly designed mixed-use buildings that will provide over 1,200 new residential homes, retail and recreational opportunities, as well as 3.5-acres of park space and publicly accessible lands. Slate also plans to add new pedestrian connections and multi-modal trails within the site and add to existing trails and parks in the area, encouraging walkability and accessibility to the existing transit terminal located south of Queen Elizabeth Way and west of Dixie Road.
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The Clarkson GO Site
The Clarkson GO Site is approximately 3.7-acres and is currently occupied by four, one-storey commercial buildings. Slate has submitted an application for an Official Plan Amendment and Zoning By-law Amendment that aims to achieve a mixed-use, transit supportive redevelopment, creating a strategic use of land in an evolving area of Mississauga. Slate began working on plans for the Clarkson GO Site in 2016 and has completed various studies and reports on behalf of the City to further Slate’s application and the City’s master plan for the area.
The preliminary development concept proposes a mixed-use development of four residential buildings comprising over 1,200 new residential homes and introduces new retail and live-work uses situated at grade. Slate plans to create a pedestrian-focused central spine within the site that will greatly improve walkability and enhance safe and continuous access to the adjacent Clarkson GO station to encourage the use of public transit. This connection aims to transform the current transit node into a more sustainable pedestrian urban community. Additionally, the introduction of retail patios in this corridor and surrounding the site will animate the pedestrian spine and public spaces.
Development applications were submitted for both sites in December 2022. Slate and the City hosted numerous stakeholder meetings over the past several years that reached tens of thousands of local community members and helped inform aspects of these development applications. Slate will look forward to continued engagement with the City and the surrounding community to transform these sites into thousands of new homes and vibrant mixed-use communities.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.
Slate Asset Management
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