Funding awarded for affordable rental units in eight new Mississauga developments

MISSISSAUGA, ONT. — The City of Mississauga has announced the recipients of its $44 million Affordable Rental Housing incentive program, which will “unlock” more than 1,400 shovel-ready rental units.

The program is funded in part by the federal Housing Accelerator Fund and was approved in July 2024.

It offers financial incentives for private and non-profit rental developers including capital grants per affordable unit and waivers/grants for certain municipal fees and charges, states a release.

CITY OF MISSISSAUGA — Located at Westminster United (4094 Tomken Rd.), the developer is Kindred Works/United Church and the build will include two 12-storey mass timber apartment buildings with 250 units. The existing church and apartment building will remain.

It is designed for shovel-ready projects that have demonstrated they are ready to start construction within the next two years.

The city received 12 applications from a variety of non-profit and private sector developers during an open call for applications. Located in six of the city’s 11 wards, the eight successful developments are as follows:

CITY OF MISSISSAUGA — The MW Condo is being developed by JD Development Group and features a 28-storey apartment tower with 376 units.

St. Luke’s Dixie Senior Residence Corp. (4150 Westminster Place): The developer is SHS/SLDC and the type of project is an eight-storey seniors apartment building. Total units: 70. Affordable units: 70.

Westminster United (4094 Tomken Rd.): The developer is Kindred Works/United Church and the build will include two 12-storey mass timber apartment buildings with 250 units (the existing church and apartment building will remain). Total units: 250. Affordable units: 78.

Your Home Developments/ The Inclusive Housing (5034, 5054, 5080 Ninth Line): The developer is Your Home Developments/ The Inclusive Housing. The project will include eight mixed-use buildings ranging from three to 12 storeys. Total units: 373. Affordable units: 65.

Your Home Developments (3233 Brandon Gate Dr.): The developer is Your Home Developments and the type of project is semi-detached homes with additional residential units. Total units: 85. Below-market units: 85.

6020 Winston Churchill (6020 Winston Churchill Blvd.): Being developed by 2421845 Ontario Inc. the project includes a four-storey purpose built rental building. Total units: 22. Affordable units: 14. Below-market units: eight.

Argyle Residences (2512, 2522, 2532 Argyle Rd.): Argyle Residences Corp./Brightstone Development Group are the developers of these stacked townhouses. Total units: 11. Affordable units: seven.

MW Condo (45 Agnes St.): JD Development Group plans to build a 28-storey apartment tower. Total units: 376. Below-market units: 30.

596 Lolita Gardens (596 Lolita Gardens): Hanseatic Holdings Ltd./Park Property Management Inc. are planning a 25-storey apartment building. Total units: 270. Affordable units: 27.

In all there will be 1,450 new purpose-built rental units, including 384 units with more affordable rents and a variety of unit sizes including 200 family-sized units (two or more bedrooms), the release adds.

Successful applicants will receive a set capital grant per affordable unit ($130,000 per unit for affordable units or $60,000 per unit per below-market unit). The funding will be issued approximately one month after building permit issuance, provided all eligibility requirements are met, the city states.