A Major New Condo Development is Moving Forward in Mississauga
A unique new condo is coming to Mississauga.
And we now know when it will be built.
Edenshaw Park Developments Ltd. (Edenshaw), the developers of the TANU condos, recently announced that its 15-storey condominium is expected to be completed by 2021. The high-rise building will have 204 units and three levels of underground parking. Edenshaw released through email today that a model suite is available for viewing by appointment.
Along with announcing the model suite, TANU has released a pricing list and floor plan. A 636 square foot condo is priced in the mid $500,000s. The smallest townhome with 1,360 square feet is listed at a price of $1.2M.
Suite sizes range from 636 to 2270 square feet.
Some amenities that are expected to be part of the development including a fitness centre with cardio and weight rooms, a yoga studio, a fitness deck, a games room, a movie screening lounge, a pet spa, a business and co-working centre, BBQ’s and lounge seating.
TANU stands for Tranquil, Amenity Rich, Naturally Crafty and Urban Village and is fitting for where the condos are located on 21-29 Park Street east; the south side of Park Street East and east of Stavebank Road.
An important philosophy of Edenshaw is the connection between a modern life and the surrounding community. Right near the heart of downtown Port Credit, residents of this future development will have easy access to the Port Credit GO, the soon-to-be-built LRT line, the Lakeshore waterfront, as well as local shops and restaurants.
“Local developer, Edenshaw, is known for quality, innovative design and their commitment to crafting communities. With mindful development as their cornerstone, Edenshaw is dedicated to building spaces that improve and understand the intricacies of the location,” the company said in a recent news release.
This development has been a topic at City Hall since the beginning of the year. Most often, concerns expressed were in relation to the height of the building compared to surrounding structures as well as increased traffic flow.
David McComb, CEO of Edenshaw and Port Credit resident for over 20 years says the development will fit in.
"The local area study ensures that the heights and the building massing are maintained in Port Credit to retain the village context."
The site is marked as what's known as a "residential high density area," as it is located next to an intensification corridor and higher transit. This means that redevelopment of under-utilized lots is encouraged to take advantage of existing services and transit.
McComb says one of the benefits of the mid and high rise density developments is that they address growing concerns regarding affordable housing.
While condos are becoming more expensive in Mississauga and surrounding cities, they remain the last affordable home type, typically costing buyers about $500k (or, in many cases, less).
"Our housing needs change, and this means providing either an affordable form of housing where children of residents can purchase their first home near the neighbourhood where they grew up or conversely where children can assist their aging parents in finding low-maintenance housing closer to their family," says McComb.
With completion of the building by 2021 it will be interesting to see how this development contributes to the growth of the downtown Port Credit core.