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Top 5 Places To Invest In Mississauga

Top 5 Places to Invest in Mississauga

I’ve ranked the Top 5 places to invest in Mississauga by order of potential as both an investor and end-user. The idea is to identify what neighbourhoods have potential for high growth in the future and the likelihood of those neighbourhoods achieving the goals that have been set out for them by the City of Mississauga.

If you’re considering investing in Mississauga real estate please contact me at info@gtawestliving.com.

1. CITY CENTRE & SURROUNDING NEIGHBOURHOODS

PROJECT/REVITALIZATION PLAN: DOWNTOWN 21

POTENTIAL: VERY HIGH

LIKELIHOOD: MEDIUM

FORECAST: 5-10 YEARS

downtown21masterplan
downtown21

Above, MasterPlan from 1969. Left, an artist rendering for the proposed Downtown21 masterplan in 2010.

ASSESSING THE POTENTIAL

The first thing I have to do is put a massive asterisk on this because it relies entirely on the execution of the Downtown 21 masterplan.

For those unfamiliar with it, the plan is to turn the current City Centre into a vibrant, walkable community buoyed by the presence of large, steady, major employers and accessible by great public transportation. 

The plan is ambitious, however this is what will make Mississauga an area that people will flock to for more affordable options with a downtown lifestyle. This is what will bring more business, more youth and long-term stability to all of Mississauga.

It’s not just the downtown core that will be revitalized and benefit from this though. It’s also the surrounding neighbourhoods that have been virtually untapped over the years where real potential comes into play. 

The issue at the moment is that this plan will focus its efforts in the beginning on a very small core. The City Centre is just too large to redesign all at one time. Once the LRT is built over the next few years, I think you’ll begin to see things take shape.

2. LAKEVIEW

PROJECT/REVITALIZATION PLAN: INSPIRATION LAKEVIEW

POTENTIAL: HIGH

LIKELIHOOD: HIGH

FORECAST: 5-7 YEARS

inspiration lakeview

ASSESSING THE POTENTIAL

Lakeview is another neighbourhood in Mississauga with huge potential thanks to the Inspiration Lakeview masterplan.

The essence of the plan is that it will revitalize the eastern part of Mississauga’s lakeshore that has been used for mostly industrial purposes with the presence of the Lakeview Wastewater Treatment Plant.

Technical studies are currently underway, but this project has legs and is one that will come to fruition. And, it’s sorely needed. In my opinion, Mississauga hasn’t made the most of its portion of the lakeshore with western neighbour Port Credit doing most of the heavy lifting in terms of entertainment and housing.

But, with housing development already starting north of Lakeshore Rd., the Inspiration Lakeview plan will really turn this into another desirable lakeshore community that will hopefully be a much more well thought out version of what we see in Etobicoke to the east.

The new Lakeview community will hopefully draw on the excitement of Port Credit but it does provide another great avenue for those seeking shelter just outside of Toronto. Prices here will definitely be in the upscale range, but getting in on the early phases of what could very well become Mississauga’s most in demand community development should pay off big time. 

3. HURONTARIO CORRIDOR

PROJECT: HURONTARIO LRT

POTENTIAL: MEDIUM-HIGH

LIKELIHOOD: VERY HIGH

FORECAST: 5-7 YEARS

ASSESSING THE POTENTIAL

The map above was first put out by MetroLinx, but a decision was made by Brampton council in October 2015 that rejected an LRT through their downtown (known as the Main Street corridor). It was a very contentious issue as the $300-$400 million earmarked for Brampton won’t be able to be reused for other uses.

So, the map will need to be changed with Gateway Terminal the likely end of the line at Steeles Avenue in Brampton. However, for Mississauga the 17.6km route has been approved with construction likely to begin in the near future. Completion, however is a different story. Early estimates have completion around 2022.

So, we have a good 5-7 years before an LRT is operating, but we can see how this plan really intersects with the Downtown 21 plan for the City Centre. There is a huge amount of potential for housing running along this corridor, and you’re going to see developments and marketing focus on proximity to the LRT in the future. This is also the reason Mississauga is focusing on getting major employers into these areas, so that people can realistically leave their cars at home to get to work. 

An interesting investment might even be the older condos that line Hurontario right now. At the moment, they house mostly bigger families, newer immigrants, mid-to-lower income households and seniors. They don’t draw the younger crowds that Square One does. Demand is slightly lower there and so are rents, but prices are as well. With the LRT coming in, it’s that former demographic that would benefit most from its service. You could see a nice little uptick in demand in rental housing along that corridor, so I would advise people to take a good hard look at these kinds of places before eyeing the newer developments that will surely begin to line Hurontario.

Potential here is very good as Mississauga desperately needs to connect to its lakeshore south communities. This should give people the opportunity to drop a family car and more realistically look at many areas of Mississauga that are out of reach by only being available to those who can afford larger, freehold homes. For me, this and Downtown 21 are the most anticipated projects to come for Misssissauga.

4. LISGAR

NO PROJECT, JUST RESALE

POTENTIAL: HIGH

LIKELIHOOD: VERY HIGH

FORECAST: REMAINDER OF 2016, POSSIBLY 2017

lisgar home

ASSESSING THE POTENTIAL

This isn’t a project or revitalization plan – something 5-7 years out in the future. But, it’s definitely something someone who wants to invest RIGHT NOW should be seriously considering.

Lisgar, which resides in the very northwest corner of Mississauga, has seen quicker price growth than any other neighbourhood in Mississauga over the last two years and there is no end in sight.

With land in Milton scooped up and prices sky high there (except for the barron lands north of 9th line which would likely serve as more 407 area in the future) many have flocked to sneakily affordable Lisgar which boasts access to its own GO station.

Unfortunately, the secret is out. Prices have catapulted compared to two years ago with the average sale:list ratio above 100% in the last quarter. It also boasts the quickest Days on Market with just 13 on average!

So, if you’re thinking resale and want to get in this year, Lisgar should be #1 on your list before prices jump up again. Another consideration could be older, neighbouring Meadowvale if budget becomes an issue. 

Ok, back to development…

Interested in learning more about Lisgar?

Check out the full Lisgar Neighbourhood Profile to learn more about real estate prices, school rankings and community information.

5. CENTRAL ERIN MILLS

PROJECT: ERIN MILLS TOWN CENTRE REDEVELOPMENT

POTENTIAL: MEDIUM

LIKELIHOOD: MEDIUM

FORECAST: PRESENT AND OVER NEXT 5+ YEARS

Aerial photo of the new sphere replacing the old clock tower. Photo courtesy of Mike Douglas -@ Mississauga Life

ASSESSING THE POTENTIAL

The Central Erin Mills area is one of my favourite in Mississauga and is currently undergoing the facelift it so sorely needed.

The Erin Mills Town Centre is at the heart of that with redevelopment almost complete and new major retailers joining the mall. Mississauga has always needed a second option to Square One and the new EMTC is looking to provide a more upscale experience that people are looking for.

Condo development is on the way with Daniels leading most of the projects. More is to come, but I feel there is a slight lack of focus on what the area is meant to be. Public transportation still hasn’t been solved there and houses in Central Erin Mills are already pretty pricey and getting to an age where things have become outdated.

I think the potential here is in the newer condos where at pre-construction levels you can find reasonably good prices and rental demand. I think the cap on potential though is around where it is right now at the City Centre. Appreciation rates will be low or stagnant and rental rates may be just under carrying costs at the resale level.

I think this has big potential if the city can focus its efforts on it, but with so many other projects in the works, I feel like it will be more or less ignored for the next few years. In the meantime, resale in the area is very nice and will continue to climb in areas in Central Erin Mills and neighbouring communities like Churchill Meadows and Streetsville.

These are all great resale options with pre-construction development something investors should be keeping a close eye on. 

Mike Santos

I’m Mike. I created this website. I’m a real estate sales representative, but I’m a consumer behaviourist at heart. I like to understand what makes people tick and find out what’s really important to them. I value honesty and integrity over everything. I’m fiercely competitive and loyal and view myself more as a consultant than salesperson. In my free time I’m a registered sportsaholic and TV junkie.

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