City of Mississauga

City of Mississauga

October 29, 2009 12:12 ET

Council Approves Lease Agreement for Sheridan Campus in City Centre

MISSISSAUGA, ONTARIO--(Marketwire - Oct. 29, 2009) - Mississauga City Council yesterday approved the Lease Agreement for a Sheridan College campus in the heart of the City Centre.

"We're excited that Sheridan will be our partner in building a state-of-the-art post secondary institution and an integrated community park in our downtown," said Mayor Hazel McCallion. "This is a plan and partnership that brings our Strategic Plan and our City Centre to life."

In its first phase of development, Sheridan's Mississauga campus will accommodate 1,760 students when it opens in fall 2011. An additional 3,740 students will follow in Phase Two bringing the potential student enrolment total to 5,000.

"Our City Centre is the ideal location for a college or university. We look forward to Sheridan College participating in new and innovative plans to inspire and connect youth to our City, and help our businesses and economy grow," said Ward 4 Councillor Frank Dale. "This partnership with Sheridan also advances the City's Downtown21 Plan which will create vibrant, pedestrian-friendly urban places in the City's core."

According to the City's Master Plan, a conceptual representation of proposed development on the 3.46 ha (8.55 ac.) property just north of the Living Arts Centre, the site includes approximately 1.07 ha (2.65 ac.) of new parkland. The plan will be used to prepare the detailed site plan and development drawings.

According to the Council Report, the Lease Agreement for Phase One grants Sheridan a 99-year lease to construct a post-secondary education facility on 0.45 ha (1.11ac.) of the property, with an option to develop Phase Two on 0.74 ha (1.84 ac.) within 10 years from the opening of the Phase One building. The City and Sheridan also reached agreement on sharing costs to service and develop the property as well as the construction and operation of two municipal parking lots with at least 352 parking spaces.

"This is a unique partnership that resulted from a close collaboration between the City and Sheridan staff who share our vision for expanding education opportunities and bringing a new vibrancy to our downtown," said City Manager and CAO Janice Baker. "This will be the first of many new options for youth, new immigrants and others to pursue their education in Mississauga as we continue to bring more post-secondary institutions to our City to meet our strategic plan objectives."

For more information about the City's new Strategic Plan, go to www.ourfuturemississauga.ca.

As Canada's sixth largest city, Mississauga is home to 730,000 residents and 55,000 businesses, including 61 Fortune 500 companies with Canadian head offices or major divisional head offices. A diverse, progressive and award-winning municipality located on the shores of Lake Ontario in the heart of the Greater Toronto Area (GTA), Mississauga prides itself on enhancing its citizens' quality of life by providing superior services, revitalizing its infrastructure and conserving the environment. Mississauga's commitment to innovation, operational excellence and fiscal responsibility reflects the City's motto: "Leading Today for Tomorrow."

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