Groundbreaking for $90 Million Affordable Housing Project in Peel Region
After nearly a decade of planning, construction has officially begun on Byngmount Shores, a $90-million affordable housing project located at 970 East Avenue in Mississauga. The project promises to deliver much-needed housing options for residents of Peel Region.
A Long-Awaited Development
The groundbreaking ceremony, held on February 17th, brought together key figures including Peel Regional Council Chair Nando Iannicca, Mississauga Mayor Carolyn Parrish, and Councillor Stephen Dasko. The 1.9-acre site, formerly home to a 48-unit social housing complex and the Byngmount Beach Public School, will now house a modern, seven-storey development.
Project Details & Accessibility
- Total Units: 150
- Unit Mix: 64 one-bedroom, 73 two-bedroom, and 13 three-bedroom apartments
- Accessible Suites: 33 fully accessible suites meeting Ontario Building Code (OBC) standards
- Affordability: 40% of units priced at 60% of average market rents
- Completion Date: Second quarter of 2028
The project aims to provide deeply affordable housing options, with 40 per cent of the units priced at 60 per cent of average market rents. Revenue generated from the remaining units will contribute to the building’s sustainability and help offset the costs of the more affordable options.
Overcoming Challenges
The path to construction wasn’t without its hurdles. The COVID-19 pandemic caused significant delays, particularly with excavation and underground work, which took 1.5 years to complete. Furthermore, the site’s proximity to the Lakeview Water Treatment Plant presented technical challenges due to existing regional water mains. This required the building to be condensed onto a smaller portion of the property.
Sustainability and Financial Stability
Byngmount Shores is being built as a “near-net-zero-carbon” building, incorporating features like greywater recycling systems, solar panels, and solar walls. These elements are designed to meet federal climate requirements and reduce utility costs for residents, contributing to long-term affordability. The project’s financial model is designed for long-term stability, with pre-set inflationary rates in existing contracts mitigating concerns about rising material costs.
Looking Ahead
The $90-million budget reflects a $35-million increase approved in 2022 to accommodate green energy standards, complex underground parking, and rising construction costs. Application details for the units will be announced closer to the project’s completion in 2028. For more information, visit the project page.
This project represents a significant step forward in addressing the need for affordable housing in Peel Region, offering a beacon of hope for residents seeking safe and accessible homes.
