Ahmed Group‘s proposed development of a mixed-use, purpose-built rental project of 568 units at 1000 and 1024 Dundas St. E. in Mississauga has taken a major step forward after a settlement was agreed to with Mother Parkers Tea & Coffee Inc.
The Region of Peel Council removed the lands south of Dundas Street East from its Employment Areas in July 2022 to allow for residential mixed-use developments.
Mother Parkers, which operates a facility next to the property and has expansion plans, wanted the 1000 and 1024 Dundas property to remain zoned for employment due to potential concerns about the compatibility of such a project with the existing uses.
However, a resolution was reached after two years of discussions and negotiations.
Ahmed Group president and chief executive officer Moe Ahmed told RENX he isn’t able to speak about the settlement, but said he’s “very excited that the project is proceeding.”
Through negotiations, the Dundas Street East project has increased in density to approximately 450,000 square feet from 429,000 square feet since it was first proposed two years ago.
“Leading mayoral candidates are advocating for the upcoming Dundas Bus Rapid Transit corridor, which the development fronts onto a station of, to be upgraded into a light rail transit system similar to the upcoming Hazel McCallion Line,” Ahmed said.
“This upgrade would further enhance the corridor’s transit infrastructure and overall appeal, connecting Toronto to Mississauga along Dundas Street East.”
11- and 24-storey towers on a six-storey podium
The proposed development will now offer a six-storey podium with an 11-storey front tower and a 24-storey rear tower, instead of 462 rental units in two towers of 16 and 20 storeys, respectively, over a four-storey podium.
“We’re passionate about the community,” Ahmed said. “We’re very sincere and want to be good city-builders and we believe we have the corporate social responsibility to help create as much rental housing as possible to contribute to the revitalization of neighbourhoods.”
The building was designed by WZMH Architects, while landscape architecture will be the responsibility of IBI Group‘s landscape division.
The transit-oriented development will offer one-, two- and three-bedroom units, ground-level commercial space, green space and improvements to the public realm.
“The ball is squarely in the court of the City of Mississauga as to when they’ll be able to issue the first building permit,” Ahmed said.
“We are ready to proceed. We have funding, we are working with the Canada Mortgage and Housing Corporation and we may be able to break ground as early as next year.”
Ahmed expects the project to be phased, with Phase 1 likely to include the podium and the front tower. He thinks the first phase could be ready for occupancy two years after construction begins.
“We look forward to doing many more projects along the Dundas corridor, starting with this one,” Ahmed said.
Other proposed developments
Ahmed Group was founded in Edmonton in 1966 by Moe Ahmed’s father Hashim, who passed away in 2016. It has a development pipeline valued at more than $2 billion and assets under management valued at more than $100 million according to its website.
Ahmed Group is comprised of: Ahmed Developments; Ahmed Asset Management; Ahmed Property Management; and Ahmed Holdings Inc., the personal real estate holding company of Moe Ahmed.
AG Property Trust is a private mutual fund trust that specializes in developing and managing high-density rental properties across the Greater Toronto Area. AG Limited Partnerships focuses on the same types of properties, offering investors a blend of capital appreciation and rental income.
In addition to future plans for Dundas Street, Ahmed Group has also proposed purpose-built rental developments (currently in early pre-construction stages) on Hurontario and Pearl streets in Mississauga. Ahmed said it’s too early to discuss specific plans for these sites.
Ahmed Group is also proposing to build seniors residences in Mississauga and Hamilton.
Focus is on rental apartments
“I feel very sorry for those developing condos,” Ahmed said. “I think the ship has sailed there, while rentals are very, very strong.”
Ahmed believes municipal, provincial and federal governments should be doing more to prioritize new rental apartment construction and said the approvals process remains too long and drawn out.
“If there was a policy to fast-track rentals, I think that would be really helpful,” Ahmed noted.
“As a rental provider, we shouldn’t be competing for resources at the municipalities with condo developers, especially considering that not many condos are going to be proceeding any time soon.”