New Condos in Square One -Mississauga

1. Affordability and Budget Considerations

When it comes to affordability, Square One offers a range of options for buyers and investors. According to the Toronto Regional Real Estate Board’s (TRREB) Market Watch report for March 2022, the average price for a condominium apartment in Mississauga was $642,475. This is lower than the average price for a detached home in Mississauga, which was $1,507,579.

It’s important to consider your budget and financial goals when deciding on a property in Square One. Condominiums are the predominant type of property in the neighbourhood, with a small number of condo townhouses available. The cost of a unit can vary based on factors such as the building’s age, location, and amenities. Older buildings may offer more spacious units, while newer buildings may have modern finishes and top-of-the-line amenities.

2.Type of Property and Investment Goals:

When choosing a property in Square One, it’s important to consider your investment goals. Are you looking for a primary residence or an investment property? If you’re looking to rent out your unit, you may want to consider buildings with rental-friendly policies and locations that are in high demand for renters.

According to the TRREB Market Watch report for March 2022, the rental market in Mississauga has been strong, with the average monthly rent for a one-bedroom condo apartment at $2,068 and $2,514 for a two-bedroom condo apartment. It’s important to research rental prices in the neighbourhood and compare them to your potential mortgage payments to determine if the property is a sound investment.

3. Local Zoning and Regulations

When considering a property in Square One, it’s important to be aware of local zoning and regulations that may impact your investment. For example, the City of Mississauga has recently implemented a new short-term rental bylaw, which requires hosts to obtain a license and follow specific rules for short-term rentals. It’s important to research these regulations and ensure that you can comply with them before investing in a property for short-term rental purposes.

4. Neighborhood Trends and Future Developments

Square One is a neighbourhood that is constantly evolving, with new developments and projects underway. It’s important to stay informed about the latest neighbourhood trends and upcoming developments that may impact your investment. For example, the Square One Shopping Centre is undergoing a massive redevelopment that will include new retail spaces, residential towers, and public spaces.

Additionally, the City of Mississauga has several ongoing projects in the neighbourhood, including the development of the Hurontario Light Rail Transit (LRT) line, which will connect Square One to other parts of Mississauga and Brampton. It’s important to stay up-to-date on these developments and how they may impact the value and demand for properties in Square One.

1. Community events and festivals:

One of the standout features of Square One is its vibrant community events and festivals. The City of Mississauga does an excellent job of organizing and promoting a variety of events throughout the year, including concerts, festivals, and shows. Some of the most popular events held in the area include the annual Canada Day celebrations, the Mississauga Waterfront Festival, and the Mississauga Ribfest. In 2022, these events were held virtually due to COVID-19, but there are hopes that they will return to in-person events in 2023. These events provide an excellent opportunity for residents and visitors alike to come together and enjoy some of the best entertainment and culture that the city has to offer.

2. Parks and green spaces:

Despite being a bustling urban neighbourhood, Square One also offers plenty of green spaces and parks for residents to enjoy. Kariya Park, located just a short walk from the Square One mall, is a beautiful Japanese-style garden with cherry blossom trees, a pond, and a waterfall. Another nearby park is the Mississauga Valley Park, which features a community centre, a skate park, a playground, and plenty of green space. Additionally, there are several other parks and trails in the area that offer a peaceful respite from the hustle and bustle of city life.

3. Restaurants, bars, and cafes:

One of the highlights of living in Square One is the wide variety of dining and entertainment options available. The Square One mall alone boasts over 350 stores and restaurants, including popular chains like The Cheesecake Factory and Earl’s Kitchen + Bar. Outside of the mall, there are several other dining options, including the Maharaja Restaurant, serving traditional Indian cuisine, and the Cactus Club Cafe, offering upscale dining in a stylish atmosphere. For those looking for a casual bite or a caffeine fix, there are plenty of cafes and coffee shops in the area, such as Starbucks and Second Cup.

4. Schools and educational institutions:

While the schools in the Square One area have historically been considered weaker than other areas of Mississauga, there are still several options available for families with children. The Peel District School Board and the Dufferin-Peel Catholic District School Board both offer schools in the area, including Fairwind Senior Public School and St. Charles Garnier Catholic Elementary School. Additionally, there are several private schools in the area, including the Mentor College and the Walden International School. For post-secondary education, Sheridan College’s Hazel McCallion Campus is located just a short distance away.

1. Overview of the Job Market in Square One and Toronto

According to recent data from Statistics Canada, the unemployment rate in the Mississauga region, which includes Square One, was 7.4% in 2020. This is slightly higher than the national average of 6.8% for the same year. However, with the economy starting to recover from the COVID-19 pandemic, it is likely that unemployment rates will continue to decline in 2022 and 2023.

In terms of industries, Mississauga is home to a diverse range of businesses, including manufacturing, finance, and technology. The top three industries in Mississauga in 2021 were wholesale and retail trade, manufacturing, and professional, scientific and technical services. This reflects a strong and growing job market with plenty of opportunities for job seekers in various sectors.

Toronto, on the other hand, has a very strong job market. In 2021, Toronto had an unemployment rate of just 6.1%, lower than the national average. The top three industries in Toronto in 2021 were finance, insurance, real estate and leasing; professional, scientific and technical services; and wholesale and retail trade. With a robust economy and a diverse range of industries, Toronto is an attractive location for job seekers in various fields.

2. Strong companies present in Square One:

Square One is home to many strong and growing companies, which contribute to the neighbourhood’s thriving job market. Some of the notable companies in Square One include:

1. Rogers Communications: A leading telecommunications company, Rogers Communications has its headquarters located in Brampton, just a short distance from Square One.
2. PepsiCo: This global food and beverage company has a large facility located in Mississauga, which employs many workers from the local community.
3. Walmart Canada: Walmart Canada operates a large distribution centre in Mississauga, which employs many workers in the area.
4. Citi Canada: This financial services company has a location in Mississauga, offering job opportunities in banking, finance, and related fields.
5. Microsoft Canada: The Canadian branch of this global technology giant has a location in Mississauga, offering job opportunities in software development, engineering, and related fields.

These companies are just a few examples of the many strong and growing businesses in Square One and the wider Mississauga area. With a diverse range of industries represented, there are plenty of job opportunities available for job seekers in various fields.

1. Access to Public Transportation:

Square One is served by the Mississauga Transitway, a dedicated bus rapid transit system that runs from Winston Churchill Boulevard in the west to Renforth Drive in the east. The Transitway has a stop at the Square One Bus Terminal, making it easy for residents to access other parts of Mississauga and the Greater Toronto Area (GTA).

In addition to the Transitway, Square One is also served by MiWay, Mississauga’s local bus system. The Square One Bus Terminal is a hub for MiWay, with numerous bus routes stopping there and providing connections to other parts of the city.

For those looking to travel further afield, the Square One Bus Terminal is also a stop for GO Transit’s bus service. GO Transit provides regional bus and train services throughout the GTA and beyond, making it easy for Square One residents to travel to downtown Toronto or other cities in the region.

2. Major Highways and Roads of Square One:

Square One is conveniently located near major highways and roads, making it easy to get around by car. The 403 highway runs north-south through the area, connecting it to other parts of Mississauga, as well as downtown Toronto and Hamilton.

Other major roads in the area include Hurontario Street, which runs north-south and provides easy access to downtown Mississauga and other parts of the city. Burnhamthorpe Road and Rathburn Road are both east-west routes that run through Square One, providing additional connections to other parts of Mississauga.

3. Bike Lanes and Walkability:

For those who prefer to get around on foot or by bike, Square One offers several options. Hurontario Street has bike lanes running through the area, providing a safe and convenient way to cycle. Additionally, there are several parks and green spaces in the area, including Kariya Park, which offers a peaceful oasis in the heart of the city.

Square One is also a walkable neighbourhood, with numerous shops, restaurants, and amenities within easy walking distance. The Square One mall, which is currently undergoing a massive redevelopment, is a major draw for both residents and visitors to the area.