Lakeview Generating Station Lands
- Project Type:
- Infrastructure Type:
- Ontario Power Generation (OPG)
About the Project
The Commercial Project Team at IO was engaged by OPG to advise on the disposition of the177 acre Lakeview Generating Station site. The OPG Lakeview site is the largest undeveloped waterfront property under single ownership within the City of Mississauga. The site is located approximately three kilometers east of Port Credit, on Mississauga's waterfront.
Across three phases of work, IO's Commercial Project's mandate was to undertake a land valuation exercise, provide support to OPG throughout a City-led master-planning process (including market sounding), development of a customized disposition strategy and on-going real estate advisory services through to transaction close.
A unique component of this transaction was the successful negotiations between the Province and the City of Mississauga to facilitate the future transfer of 67-acres of remediated waterfront land from the purchaser to the City. This land is earmarked for cultural, institutional and park spaces that will deliver significant benefit to the local community and broader public.
- Master-planning Process Completion: 2013
- Sale Process (open market begin): June 6, 2017
- Sale Process (open market close): Sep. 8, 2017
- Transaction completed: March 20, 2018
- Prepare land use planning and valuation reports
- Prepare a custom disposition strategy for OPG to bring the lands to market in a way that would achieve OPG's financial, political and strategic objectives
- Support OPG undertake technical due diligence activities
- Advisory services in support of municipal negotiations
- Stakeholder engagement and market sounding