TORONTO, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The purchase of the YMCA in Mississauga, Ontario by RGF (Mississauga) Developments Inc. (led by HBNG Holborn Group) was officially closed on December 15, 2020. The 4.5-acre property comprising both the YMCA building and adjacent parking lot, is ideally situated on the north east corner of Burnhamthorpe Rd. W. and Confederation Pkwy.
The future development of this signature property will take place over several phases and will potentially consist of multiple mixed-use towers atop of ground floor retail. This project is expected to be a statement addition to the City of Mississauga's unique and burgeoning skyline.
RGF President John A. D'Angelo says, "Population growth in Peel Region is projected to reach 2 million residents by 2041, thus we see this as an excellent opportunity to add to the much-needed housing supply of the region. With construction of the Hurontario LRT expected to be completed by 2024, Mississauga City Centre is primed for tremendous growth and connectivity in the coming years".
By virtue of this exceptional location, future residents will enjoy access to not only world class shopping but also cultural amenities such as The Living Arts Centre and The Art Gallery of Mississauga as well as easy access to parks and conservation areas.
Through a mutually satisfactory agreement, Mississauga YMCA has negotiated a lease and will continue to operate at the property.
Contact:
John A. D'Angelo
President, RGF (Mississauga) Developments Inc.
CEO, HBNG Holborn Group
jdangelo@HBNG.ca
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6d8da44-b08f-4acb-9ceb-15c6898344d9
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