Mississauga 325 Burnhamthorpe Road West | 206.15m | 65s | RGF Developments | Turner Fleischer

Sold for $90m. I would have thought this would be the kind of thing the City wanted to keep...

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RGF acquires Mississauga YMCA for future development

RGF (Mississauga) Developments Inc. has purchased a 4.5-acre property on the northeast corner of Burnhamthorpe Road West and Confederation Parkway in Mississauga, which includes a YMCA building and its 182-space parking lot, for $90 million. “They were sitting on a
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ProjectEnd said:
Sold for $90m. I would have thought this would be the kind of thing the City wanted to keep...

renx.ca

RGF acquires Mississauga YMCA for future development

RGF (Mississauga) Developments Inc. has purchased a 4.5-acre property on the northeast corner of Burnhamthorpe Road West and Confederation Parkway in Mississauga, which includes a YMCA building and its 182-space parking lot, for $90 million. “They were sitting on a
renx.ca renx.ca

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I hope they can keep at least some of the Moriyama and Teshima building.

AoD
 
ProjectEnd said:
Sold for $90m. I would have thought this would be the kind of thing the City wanted to keep...

renx.ca

RGF acquires Mississauga YMCA for future development

RGF (Mississauga) Developments Inc. has purchased a 4.5-acre property on the northeast corner of Burnhamthorpe Road West and Confederation Parkway in Mississauga, which includes a YMCA building and its 182-space parking lot, for $90 million. “They were sitting on a
renx.ca renx.ca

View attachment 295121
Click to expand...

I am not a real estate person but I thought it would’ve fetched way more than $90m. The Oxford/Daniels parcel up the street at Rathburn & Confederation looks smaller and they are planning to build 5 towers on it so this one could easily hold 4/5 towers plus retail on the ground level. On the other hand, the YMCA must be struggling with the pandemic effects and must be in real need for money quickly.
 
ProjectEnd said:
Sold for $90m. I would have thought this would be the kind of thing the City wanted to keep...

renx.ca

RGF acquires Mississauga YMCA for future development

RGF (Mississauga) Developments Inc. has purchased a 4.5-acre property on the northeast corner of Burnhamthorpe Road West and Confederation Parkway in Mississauga, which includes a YMCA building and its 182-space parking lot, for $90 million. “They were sitting on a
renx.ca renx.ca

View attachment 295121
Click to expand...
It wouldn't have mattered if the city wanted to keep it around anyway since it was YMCA's decision to sell their land. It's probably better for them in the long run anyway, since they get $90M. I suspect that the YMCA will most likely start working with a developer in MCC to build a new YMCA in the podium of a tower development. I'm also wondering if the city has plans to eventually open a community centre of their own for MCC. The area is going to need many more public amenities soon with all of this density being built.
 
ericmacm said:
It wouldn't have mattered if the city wanted to keep it around anyway since it was YMCA's decision to sell their land. It's probably better for them in the long run anyway, since they get $90M. I suspect that the YMCA will most likely start working with a developer in MCC to build a new YMCA in the podium of a tower development. I'm also wondering if the city has plans to eventually open a community centre of their own for MCC. The area is going to need many more public amenities soon with all of this density being built.
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While not directly in the MCC, there is plans for a "Cooksville" community centre in the Hurontario/Dundas area. It will likely be part of a redevelopment of the TL Kennedy site. Aside from that, I doubt we will see another community centre built in the area any time soon, as that area is well served by Mississauga Valley Community Centre already.
 
sixrings said:
Ugh pay wall. I’m not techy and I’m cheap.
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Nugget:

The YMCA in downtown Mississauga has been sold to real estate development company HBNG Holborn Group (a subsidiary of RGF (Mississauga) Developments Inc.) for $90 million and will close by the end of 2025.​

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AlvinofDiaspar said:
I do wish this new development would accommodate a new Y on the site, but I don't imagine that's part of the sale.

AoD
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Same. You would think the podium would be able to support it. It’s great to see buildings being built here but the amenities need to stay as well.
 
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