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April 23, 2019

M City marks two-year anniversary with two buildings under construction and 2200 units sold

 

 

April 23, 2019 (Mississauga, ON) – It’s been just two years since Rogers Real Estate Development Limited and Urban Capital launched the groundbreaking master-planned community in downtown Mississauga—M City. The anniversary coincided with a significant construction milestone: multiple cranes erected on site as M City’s flagship towers M1 and M2 are set to rise. The anniversary also aligned with another milestone: the release of the podium suites in M3, the third tower at M City. At 81 storeys, M3 is the tallest building ever proposed in Mississauga and among the tallest in the entire GTA.

Since the initial market launch in November 2018, the 917-unit M3 building is over 80% sold. Taken together, overall sales across the first three phases of M City have surpassed 2200 units since launching in Spring 2017.

“M City has proven time and time again that the future of Mississauga is now,” says John Anderton, Vice-President, Treasurer of the Rogers Private Companies. “M City is the first residential development for the Rogers Family and our goal is to develop a world-class community befitting any city in the world. Our success to date validates our unwavering belief in Mississauga and continued commitment to delivering cutting-edge design. We are resetting expectations of what development looks like in Canada’s sixth largest city.”

The 15-acre site spanning M City’s master-planned community is a long-held Rogers family asset, dating back to the 1960s, when the land was originally purchased as a potential site for a radio transmission facility. Plans to develop the property into a mixed-use, urban community were inspired by the City of Mississauga’s Downtown21 Master Plan.

Assembling a world-class design team, Rogers Real Estate Development Limited chose Urban Capital to lead the development team including premiere Canadian architectural firms CORE Architects and IBI Group, interior designers Cecconi Simone, and New York-based urban planning firm Cooper Robertson, among other top tier engineers and consultants.

“From day one, the development team has committed to investing in world-class design. The signature aesthetic delivered by our architects and designers has helped establish M City as one of the preeminent developments in the GTA,” says Mark Reeve, Partner, Urban Capital Property Group. “I’m very proud of our tremendous team. Together, we continue to push the envelope and deliver a dynamic community that Mississauga will be proud of. We want to help put this city on the map as one of the most progressive, forward-thinking and creative places in the world.”

 

ROGERS REAL ESTATE DEVELOPMENT LIMITED
Rogers Real Estate Development Limited is the owner and developer of M City.  The Company is part of an affiliated group of companies, which together represent the Rogers family private holding companies.  The Rogers family private holding companies are the majority and controlling shareholders of Rogers Communications Inc., a leading diversified public Canadian communications company created by Ted Rogers.

The development of M City will continue Rogers’s long history in Mississauga.  In the 1960’s Ted Rogers purchased 43 hectares of farmland in Mississauga on which to locate transmitters for one of his first business ventures, radio station CHFI. CHFI remains the number one rated Toronto radio station to this day.  “It was a lot of money, but I had to take the opportunity to buy the land when it arose. Over the years, this land near Hurontario Street and Burnhamthorpe in the heart of what would become Mississauga has greatly appreciated in value.  At first, we used the rising value to secure more business loans”.  (Ted Rogers – Relentless The True Story of the Man Behind Rogers Communications).  When the transmitters were relocated, in the early 1990’s, the site was retained by Ted and “we developed much of it and sold it to builders for new homes”.  The current site was re-zoned in 2002 to allow for a wider possibility of land uses including increased residential development.

URBAN CAPITAL PROPERTY GROUP
Urban Capital is one of Canada’s leading developers with an award-winning reputation for architectural design, environmental sustainability, and a commitment to cities. Working in partnership with the best architects, designers and planners, the company is widely recognized for its pioneering role in bringing high-design urban living across Canada. Consistently named as a top 10 condo developer in Toronto, Urban Capital has over 9,300 condominium units developed or under development since 1996. With a reputation as urban regenerators, the company has brought its high standards and visionary approach to neighbourhood-conscious development to Mississauga and Toronto, Halifax, Ottawa, Montreal, Winnipeg, Saskatoon and Edmonton.

 


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