Groundbreaking ceremony celebrated a
milestone for Mississauga's Port
Credit neighbourhood
MISSISSAUGA, ON, Oct. 10,
2024 /CNW/ - Morguard Corporation ("Morguard") (TSX:
MRC) officially launched the construction of its new purpose-built
rental community offering amenities that allow residents to connect
with the simple beauty of nature and enjoy a modern lifestyle in
the vibrant Port Credit area. The
development will be comprised of one 9-storey and two 8-storey
midrise residential buildings on a 3.7-acre property. The total
development will contain 431 suites, from studios to 3-bedroom
units, townhomes and stunning penthouse suites
On October 3, 2024, a
groundbreaking ceremony took place at 725 Village Green Boulevard
in Mississauga. Among the
assembled dignitaries at the event were the Mayor of Mississauga, Carolyn
Parrish, and Ward 1 Councillor, Stephen Dasko.
The executive team at Morguard is pleased to have worked with
City of Mississauga officials on
this innovative project that will deliver a premium purpose-built
rental community to Mississauga
residents.
"The development at 725 Village Green Boulevard demonstrates
Morguard's strategic growth capabilities and represents our
commitment to developing purpose-built communities in the GTA,"
said K. Rai Sahi, Chairman and Chief
Executive Officer.
"As we look to the future, I'm truly excited. We are laying the
foundation for a brighter, more sustainable future for Mississauga," said Morguard's President and
Chief Operating Officer, Angela
Sahi. "Our vision is to create a modern living experience
that blends the comforts of home with the convenience of a
professionally managed property—an urban oasis where thoughtful
design seamlessly integrates nature, bringing the outdoors in."
Morguard's newest purpose-built rental community, designed by
architecture firm BDP Quadrangle, will offer expansive suites, a
collection of spacious townhomes, a selection of premium amenities,
and elegant interiors designed by Cecconi Simone. This new,
turn-key residence will be ideal for young professionals, mature
couples downsizing and families with children.
From the textures and colours of nature that inspired the design
to the abundant amenities that enhance everyday living, this
development project is tailored for comfort, wellness, and
connection:
- A greenhouse where residents can grow their own ingredients,
for micro-farm to table living.
- Landscaped rooftop terraces on each tower offer stunning views
while providing outdoor space for leisure and entertaining.
- A chef's kitchen and connected spaces designed for gatherings,
making culinary exploration and entertainment central to the
lifestyle.
- A wine-down lounge and screening room, creating spaces where
residents can relax, unwind, and connect.
- A co-working space, providing a flexible and collaborative
environment for professionals who thrive in a work-from-home
setting.
- A pet spa in each tower where residents' can conveniently care
for their pets.
- An expansive fitness and yoga centre.
- Additional features include a dog run, a children's play area,
a dining area with BBQs and fire pits, and indoor/outdoor cabanas
with lounge.
"This project will enable residents to experience rental living
at a higher level," said Senior Vice President of Development,
Brian Athey. "We are delighted to
commence construction on this premier residential project in the
City of Mississauga".
We are committed to achieving LEED Gold certification, a
standard that represents excellence in green building design. Each
suite will offer Heat Recovery Ventilation (HRV) units, which
capture and reuse heat from exhaust air to improve energy
efficiency. In addition, the property will capture rainwater in a
cistern for irrigation, reducing water consumption. LED lighting
and motion-controlled sensors will conserve energy throughout the
building. Indoor parking will offer 480 bike parking spots and 50%
of the parking spaces will be Electric Vehicle (EV) ready. These
innovations will ensure that we minimize our environmental
footprint.
Ideally, situated just moments from highly ranked schools and
the Lakefront Promenade, this community offers an exceptional
living experience. Easy access to the QEW, and a wide
selection of retail destinations just to the south, residents can
enjoy the best of urban convenience while being close to downtown
Toronto. 725 Village Green
Boulevard is where modern living meets thoughtful design, providing
the perfect backdrop for a connected and inspired retreat.
Morguard's total multi-suite North American managed residential
portfolio includes over 17,000 suites and is valued at $6.4
billion as of June 30, 2024. The portfolio consists of 16
Canadian multi-suite residential rental communities located in
Ontario and Alberta as well as 26 U.S. multi-suite
residential rental communities located in 10 states, consisting of
12,315 residential suites and 229,500 square feet of commercial
gross leasable area.
About Morguard Corporation
Morguard Corporation is a major North American real estate and
property management company. It has extensive retail, office,
industrial, hotel and residential holdings owned directly and
through its investment in Morguard Real Estate Investment Trust and
Morguard North American Residential REIT. Morguard also provides
real estate management services to institutional and other
investors. Morguard's owned and managed portfolio of assets is
valued at $17.6 billion. Please visit
www.morguard.com or follow us on LinkedIn and
Instagram.
SOURCE Morguard Corporation