Downtown Mississauga’s skyline is in for a big change as Crown Realty Partners and Plaza Partners recently announced the closing of a joint acquisition at a prominent intersection in the city.
The 6.4 acre site at 30 Eglinton Ave. West, located at Eglinton and Hurontario St., currently features a 113,435 square foot office building and 51,296 square feet of retail space. With nearby transit and a future stop for the Hurontario LRT nearby, the site is a prime location for a larger scale mixed-use community.
Crown and Plaza say their plans could include roughly 1.5 million square feet of new residential, commercial, and retail space in multiple adjoining towers.
“We see an opportunity to add value to the existing office building through building and tenant upgrades and a renewed leasing strategy,” says Emily Hanna, Partner, Investments at Crown. “We are happy to be partnering with a leading developer, Plaza Partners, to realize our longer-term mixed-use vision for 30 Eglinton.”
Plaza will be responsible for managing development and rezoning the site as mixed-use for office, retail, and residential. Crown will be in charge of repositioning the current office building, and overseeing leasing and property management.
“This is a unique opportunity to participate in a redevelopment that will enhance and complement the existing commercial uses at 30 Eglinton,” says Pinny Kaufman, President, Plaza Partners. “We look forward to working with our partner to create another vibrant community in the City of Mississauga.”
We can’t wait to see what Crown and Plaza have planned for 30 Eglinton. One of the most prestigious condos in Toronto in Plaza’s No1 Yorkville, so we’re curious to see whether the condos at Eglinton and Hurontario will be luxury suites!
Feature image via Crown Realty Partners