The most expensive and extravagant condo ever just hit the market in Mississauga
Published December 13, 2021 at 12:51 pm
A record-setting $15 million penthouse suite to be built directly across from Square One in Mississauga hit the market today.
The 10,000-sq.-ft. luxury condo suite, part of the Exchange District mixed-use development planned in the heart of downtown at City Centre Dr. and Kariya Gate, is the most expensive pre-construction condominium unit ever sold in Mississauga, according to developer Camrost Felcorp Inc.
Today’s launch of the upper penthouse “sets a new bar for condo pricing for the residential real estate market,” Camrost Felcorp vice-president of sales and marketing Christopher Castellano said in a news release.
“With today’s penthouse release, Camrost has boldly demonstrated to purchasers, brokers and our development sector colleagues that luxury living has a new home in the GTA, and it can be found in downtown Mississauga.”
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Comprising the entire top floor of the 66-storey EX3 tower, the pricey suite features nearly 8,000 sq. ft. of indoor living space and 2,000 sq. ft. of balconies with 360-degree views of downtown Mississauga, the Toronto skyline and Lake Ontario.
Photo shows the site of the Exchange District development.
Camrost says today’s release of the penthouse suite follows the sold-out launch earlier this fall of the tower’s other 505 units that sold for prices starting at $550,000.
When combined with sales in 2019 of the Exchange District’s first two residential phases, EX1 and EX2, the developer has now sold more than 1,500 condo suites on the 3.5-acre site.
“We helped pioneer the residential intensification of the Mississauga City Centre, and have welcomed additional developments from our colleagues in the Square One neighbourhood in the ensuing years,” noted Castellano. “So, we were not surprised to see purchasers respond so overwhelmingly to condominium opportunities in this part of the GTA.”
Castellano added that Exchange District buyers “have recognized the unique opportunity for urban living in this pocket of the GTA and, more importantly, the value it offers on a price per square foot compared to downtown Toronto.”
However, he acknowledged that whoever ends up buying the $15 million penthouse suite at EX3 won’t be motivated by comparative pricing, but “for the purchaser of this penthouse suite it will be about just one thing–luxury.”
Inside, the luxurious penthouse suite will offer a private wine cavern, five large bedrooms with staff quarters, two laundry rooms, two large walk-in closets and spa-inspired ensuites, a private fitness space and fully-equipped gym, among “other unparalleled features and finishes,” the developer says.
The stunning suite will be accessed by elevator service carrying residents to the top of the tower from their private, below-grade garage with parking for five cars.
Comprised of three condominium towers, a rental residence and a boutique hotel, the Exchange District will also boast more than two million square feet of retail, shopping, dining, office and commercial spaces, new lush public parks and other open spaces, according to Camrost Felcorp.
And the development will also feature significant energy efficiencies. The 66-storey EX3 tower, the rental tower and the hotel will be run by off-grid energy.
