Exchange District Condos Mississauga is a new pre-construction development located at 151 City Centre Drive with an estimated completion date of November 2023. Exchange District will feature condominium residences, retail, offices, shopping, and dining, a boutique hotel, and parks and public spaces.
About Exchange District Condos
Exchange District Condos will be a 60-storey development located at Hurontario Street and Burnhamthorpe Road in Mississauga. This development will have 600 suites starting from the 7th floor, with 11 suites per floor. There are 11 different floor plans available to choose from, with suite size ranging from 420 to 1,005 square feet.
This development is chock full of amenities. It has 20,000 square feet of amenity space, in fact. Exchange District Condo residents will have access to building-specific amenities, including 24-hour concierge, a parcel room, a pet wash and spa, a fitness centre, a basketball half-court, an indoor pool, a function space with outdoor terrace, cold storage for fresh produce, an impressive double height lobby with direct access to a retail cafe, five high-speed elevators with custom-designed cabs, work-from-home spaces, a lounge and meeting rooms. The fitness room will include circuit training, cardio equipment, a yoga studio, and stretch room, while the indoor swimming pool will include a whirlpool spa, sauna and steam room with adjacent outdoor sundeck.
Residents will also have immediate access to the building’s retail amenities, which include a number of restaurants, cafes, a grocery store, a beer garden, and an extensive public piazza.
Exchange District Condos Financials
Exchange District Condo suites range from 420 square feet to 1,005 square feet and start from $430K going up to $850K.
A minimum deposit of 15 per cent is required for Exchange District Condos, with the VIP deposit structure as follows:
- $5K on signing
- 2.5 per cent in 30 days (one month)
- 2.5 per cent in 90 days (three months)
- 2.5 per cent in 270 days (nine months)
- 2.5 per cent in 365 days (one year)
- 2.5 per cent in 450 days
- 2.5 per cent in (two years)
- 1 per cent on occupancy
If a client does not have the benefit of going through a Platinum/VIP agent, they will need to pay the balance of the 15 per cent deposit within one year (rather than two), with an additional 5 per cent required upon occupancy (instead of only 1 per cent)
Parking is available for models that are 690 square feet or larger, and will cost $40K + HST. Lockers cost $5K + HST, though you will get a free bike storage unit if you sign up with a Platinum/VIP agent.
Development charges are expected to cost $10K for two-bedroom suites and smaller, and $14,500 for two-bedroom suites and larger. If you sign on with a Platinum/VIP agent, these development charges will be capped at these levels (meaning no surprise additional development charges later). For more incentives for signing up with an agent, check out “Looking for an In” below).
Maintenance fees are expected to cost 59 cents per square foot a month, and residents have the option of opting in for bulk high-speed internet at $25 a month.
Property taxes are currently estimated at 1.12 per cent of the property price per year.
The Exchange District Neighbourhood: Downtown Mississauga
Residents of Exchange District Condos have a number of entertainment options nearby. Residents will be just steps from Mississauga Celebration Square and high-end shopping at Square One Shopping Centre, which is the second-largest shopping mall in all of Canada. Residents will also be able to enjoy drinks and food at local bars, pubs, and cafes, while enjoying the convenience of nearby grocery stores, banks, movie theatres and more, which are all accessible by foot.
Exchange District Condos is close to both the University of Toronto Mississauga Campus and Sheridan College, as well as family-friendly parks, greenspaces, and activity centres such as Playdium, Sky Zone, and the Cineplex Theatres.
The City Centre Transit Terminal is also located just steps away from the development at Square One Shopping Centre. This is a major transit hub where residents can access intercity transit and GO Transit busses. This development also includes a dedicated shuttle to the GO Train Station – a major bonus for residents, who can commute to downtown Toronto in one hour mby transit.
Residents with vehicles have easy access to major thoroughfares in the area, including the QEW and Highways 403 and 401. Using the highways, residents can commute into downtown Toronto for work or leisure in under 35 minutes and to Toronto Pearson International Airport in 10 minutes.
Why invest in Exchange District Condos?
Investors can benefit from the Exchange District Condo development due to its close proximity to the University of Toronto Mississauga Campus and Sheridan College. With excellent transit options and the lifestyle amenities nearby, this development will be an ideal place for students to call home during the school years, and investors can take advantage of that extra rental income. In fact, there is a high demand for Mississauga real estate in general, with an extremely low 0.9 per cent residential rental vacancy rate in 2018, an average rent of $2,200 in 2018, and an average resale price of $680K in 2018.
Families of all ages and sizes could enjoy Exchange District Condos, not only because it is walking distance to some great educational institutions, but also because it is surrounded by plenty of parks, green space, and family-friendly entertainment options like Playdium, Sky Zone, and Cineplex Theatres. Even better, the 72 acres of Mississauga waterfront is also in the process of being rejuvenated.
Living in Mississauga is an alternative to living in Toronto, offering both a close-knit neighbourhood feeling while still offering the excitement of being in a city. In fact, there is a great deal if investment currently happening in the area, with the Exchange District planned as a new urban destination, with more than 2-million square feet of retail, shopping, dining, office and commercial spaces planned, including a boutique hotel, new lush parks, and thoughtfully-designed public spaces. Exchange District Condos are located at the heart of the new Exchange Area development, where a number of urban amenities are planned to connect to the core of downtown Mississauga. There is even a new Hurontario LRT expected for completion in 2022, which include 18-kilometres of LRT lines, 19 LRT stops, and easy access to downtown Toronto. This is key, as properties near public transit are shown to be worth 30 per cent more than other buildings.
Currently Mississauga has more than 750,000 residents, with a 21.7 per cent population growth expected by 2041. It is also a major employment centre, and home to a strong economy with more than 70 Fortune 500 Regional Headqaurters and 1,700,000 square feet of new commercial development within walking distance of Exchange District alone. 519,000 new jobs are expected to be created by 2031.
Stage of Development
This pre-construction project is currently selling to Platinum/VIP agents.
Looking for an In?
Are you interested in Exchange District Condos? As mentioned above, it is currently only selling to Platinum/VIP agents. I’d be happy to help you get in. In addition to VIP access, I can also offer clients the following benefits:
- An extended deposit structure (refer to financial info above)
- $1K assignment fee (standard charge is $5K)
- Permission to lease during interim occupancy
- Capped development charges
- Free bicycle storage unit
Any other questions or thoughts? What would your favourite part of the new Exchange District be? Let me know in the comments below.