50-year-old Mississauga mall for sale, condo towers could take its place
Published May 17, 2022 at 2:48 pm
One of the oldest shopping plazas in Mississauga could eventually be replaced by a multi-tower, mixed-use development that might include one or more buildings of 25 storeys in height.
High Point Mall, which has one of the oldest pizzeria’s in it (Luca’s) , located at the northeast corner of Dixie Rd. and Bloor St. in east Mississauga and built more than 50 years ago, is reportedly for sale.
Located on almost four-and-a-half acres of land, the mall is 88 per cent occupied and includes local grocer Grant’s Foodmart, which accounts for about 30 per cent of the total space.
Once sold, the plaza could eventually give way to a redevelopment that would include five buildings ranging in height from six to 25 storeys, 876 residential units and a public park, according to Ottawa-based Real Estate News Exchange (RENX).
The property is reportedly being sold by the two families who built the mall back in the late 1960s.
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The 76,555-sq.-ft. plaza, which also includes an office building, is centrally located in the Applewood area of the city and only minutes from Etobicoke and Sherway Gardens.
According to RENX, the deadline for bids on the property is May 31, at 3 p.m.
With plenty of condo and apartment growth in other areas of Mississauga, specifically the downtown core and the Lakeshore Rd. area in the city’s southeast corner, it’s also noted that the Dixie Rd. corridor has growth potential, too.
