- What BlackTusk Group is looking to sell a Mississauga, Ont., development site
- Why It is approved for an eight-storey mixed-use building
- What next BTG Realty Advisors has the listing
Developer BlackTusk Group is looking to offload a rezoned development site in Mississauga, Ont., for $8m.
The site, at 128 Lakeshore Road East, is approved for an eight-storey, 54,000 sq ft mixed-use residential building with 37 units. BTG Realty Advisors has the listing.
BlackTusk initially proposed an 11-storey, 42-unit building for the corner property. However, after taking the zoning application through the Ontario Land Tribunal, a scaled-down proposal was approved.
Although zoning has been obtained, a site-plan application has not yet been submitted. Marketing materials note, however, that BlackTusk has completed “significant work” to allow for a quick submission and approval.
A rendering of the proposed building drafted by Arcadis depicts commercial space on the ground floor fronting Lakeshore Road East. Above is a glassy, rectangular built form with private balconies for the residential units.
The site, currently occupied by a funeral home, spans 10,000 sq ft. It is in a sought-after location, 500 m from the Port Credit GO station and 300 m north of St. Lawrence Park along the Lake Ontario waterfront.
There is an opportunity to enter into a short-term lease with the existing tenant to provide cashflow until demolition begins.
