Imperial Oil Lands Sold in Mississauga, Here’s What Might be Coming

Big news, everyone!

Mississauga City Councillor Jim Tovey just announced that Imperial Oil Ltd. has signed an agreement of purchase and sale with Port Credit West Village Partners Inc. for the purchase of the former Texaco refinery lands located at 70 Mississauga Road South.

Port Credit West Village Partners Inc. is associated with such urban development firms as the Toronto-based Dream Unlimited Corp., DiamondCorp., FRAM Building, The Kilmer Group and more. Dream, for example, is one of Canada’s largest residential land developers.

The transaction is expected to close in March 2017, following completion of the “due diligence process.” It’s an encouraging signal that the exciting Inspiration Port Credit plans are moving forward.

As for what will go on the land, the Port Credit Business Improvement Association (BIA) recently took to its Facebook page to address questions about what the land might become home to.

According to the BIA, proposed developments on the site include condos, townhouses, affordable housing, shops, businesses, a community centre, a beach, a town square and waterfront parkland.

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Stay tuned for more news regarding this latest development.