Lakeview Village, Mississauga: What Is Actually Being Built on the Old Power Plant Site

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 25 September 2026 · 9 min read — the verified numbers behind Mississauga’s biggest waterfront project, the timeline as the City states it, what is still a rendering, and what a pre-construction buyer needs to check.

The site, and why it was empty

The Lakeview Generating Station was a coal-fired power plant on the Mississauga shoreline, east of Port Credit and west of the Etobicoke border. Its four chimneys, known locally as the Four Sisters, came down in 2006 and the site sat as a fenced brownfield for more than a decade. In 2017 Lakeview Community Partners Limited — a group of builders including TACC Construction, Greenpark, CCI Development Group, Branthaven and Argo — bought the land from Ontario Power Generation.

That history matters for a buyer in two ways. First, it is why 177 contiguous acres of lakefront were available at all in a built-out city. Second, it means the ground has a remediation story. The City’s project page describes site servicing as under way; if you are buying, ask the sales office for the Record of Site Condition for the parcel your building sits on. That is a public document and a normal request.

The numbers the City actually publishes

I have not listed a price, a floor plan count or a completion year for the whole community because none of those is published by the City. Anything you see on those points comes from a sales office and should be treated as a sales figure.

What 16,000 homes means in plain terms

Sixteen thousand units is not a condo project. It is a town. For comparison, the whole of Humber Bay Shores in Etobicoke — the dense cluster of towers most GTA buyers picture when they think of new lakefront — grew over about twenty-five years. Lakeview intends to put a larger population on a single site.

For the first buyers that means living on a construction site for years. Every tower after yours will be built beside you. Roads will be temporary, then rebuilt. The pier, the parks and the retail come in phases and the phasing is decided by the developer, not by when you move in. None of that is a reason not to buy. It is a reason to buy with your eyes open and to ask, in writing, which amenities are committed for your phase.

The Minister’s Zoning Order, and why it matters to you

Most large developments go through municipal planning approvals that residents can comment on and appeal. An Enhanced Minister’s Zoning Order is a provincial instrument that sets the zoning directly. In May 2023 one raised Lakeview from 12,000 to 16,000 units.

Two practical consequences. The density is now legally fixed at a level a third higher than the original plan, so the towers will be taller or more numerous than the earlier renderings suggested. And because the order came from the Province, the normal local appeal route is closed; the plan is not going to shrink. If you are buying a lower-floor unit, look at what the order allows on the parcels between you and the water, not at what the current rendering happens to show.

Pre-construction on a brownfield: what to check

• Record of Site Condition. Ask for the RSC filed for your parcel under Ontario Regulation 153/04. It confirms the land was assessed and, where needed, cleaned to the standard for residential use.
• Tarion coverage and deposit protection. Condo deposits are protected up to $20,000 by Tarion, with the balance held in trust under the Condominium Act. Confirm where every dollar of your deposit is going.
• Interim occupancy. In a project this size you may take occupancy of your unit before the building is registered and pay an occupancy fee for months. Ask for the developer’s estimate of that period and read how interim occupancy fees work.
• Assignment rights. If you may need to sell before closing, confirm whether assignment is permitted and what it costs.
• The delay clause. Every Ontario pre-construction agreement has one. Understand the outside occupancy date, because delays and cancellations are not rare in a slow market.

What it does to the existing Lakeview and Port Credit market

Owners in the low-rise Lakeview neighbourhood north of the site and in the Port Credit towers to the west will gain a waterfront park system, retail and a pier they did not have. They will also gain a very large volume of new-build supply next door, delivered over a decade. When those two forces meet, the buildings that hold value are the ones that offer something the new stock cannot: an unobstructed lake view that no phase can block, a larger footprint than new suites are built at, or a freehold lot. Small, view-less units in older buildings will have the hardest time competing with a brand-new equivalent a few hundred metres away.

Who Lakeview suits, and who it does not

It suits a buyer with a long horizon who wants a new suite on the water and can live with years of adjacent construction, or an investor who is genuinely comfortable with a 2029-plus closing and understands that rents in a half-built neighbourhood are lower than in a finished one.

It does not suit anyone who needs to move in within three years, anyone whose plans depend on a specific amenity being open, or anyone who cannot absorb a delay of a year or more without financial strain. Those buyers should be looking at resale in Port Credit, where the water and the GO station are already there.

Where I fit

I sell resale and pre-construction across the western GTA. If you are choosing between a Lakeview pre-construction suite and a resale unit in Port Credit or Humber Bay that you can move into this year, I can put the actual numbers side by side and tell you which risks are priced in and which are not. Start with what you already own using the estimator below, or book a call.

Frequently asked questions

Sources

• City of Mississauga — Lakeview Village (updated 17 July 2026) — all site figures
• Ontario Regulation 153/04 — Records of Site Condition — brownfield rules
• Tarion — deposit protection for condominium units — deposit coverage
• TRREB Market Watch, August 2026 — market context

Related reading

• Mineola, Port Credit and Lakeview Houses
• Port Credit condos: buying on the Mississauga waterfront
• Brightwater Port Credit: what buyers should know
• Interim occupancy fees explained
• Builder delays and cancelled projects in Ontario
• Buying a home near a planned development