On Tuesday morning, the Rogers family, alongside their privately held development firm, Rogers Real Estate Development Limited, and the City of Mississauga announced a $1.5 billion development.
Situated on the corner of southwest corner of Burnhamthorpe Road and Confederation Parkway, the development, dubbed M City, will transform 15 acres of downtown Mississauga into a 10 tower condo complex. New York-based architecture firm Cooper Robertson contributed to the design of the site.
Ted Rogers bought the plot of land, then part of a farm, the development sits on back in the 1960s for approximately $170,000. At the time, Rogers planned to build a radio transmitter tower on the site. 6,000 units are expected to be ready by the end of project’s first phase. Units will range in price between $200,000 and $750,000.
Current family head Edward Rogers told the Toronto Star he hopes M City will lead to other real estate projects down the line.
Rumblings the Rogers family was planning to undertake a massive real estate development began when Rogers registered M City as a trademark back at the end of July.
Related: Rogers registers M City trademark could be possible real estate development project
[source]Toronto Star, Rogers[/source][via]BlogTO[/via]
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