Mississauga Approves Up to 16,000 Homes at Lakeview Village — The South Banks Towns Among the First

Mississauga City Council has approved landmark agreements to build up to 16,000 homes at the 177-acre Lakeview Village waterfront site — and The South Banks Towns by DECO Homes & OPUS Homes is among the first to launch.

By Karan Dhulla · 2026-02-10 · Development · 6 min read

A Historic Milestone for Mississauga's Waterfront

In a move that reshapes the future of the Greater Toronto Area's housing landscape, Mississauga City Council has approved landmark agreements with Lakeview Community Partners Ltd. (LCPL) to begin construction on the first 8,050 homes at the 177-acre Lakeview Village development — with plans for up to 16,000 total residential units.

For prospective homeowners looking at The South Banks Towns by DECO Homes & OPUS Homes, this official green light from the City represents extraordinary timing and opportunity.

What Council Approved

The City approved two critical by-laws:

1. Subdivision Agreement — enabling LCPL to begin construction on the first 8,050 units, with requirements for:

  • Parkland commitments and green space delivery
  • Future transportation studies and traffic improvements
  • Odour and noise mitigation measures
  • A dedicated Peel District School Board school site
  • Minimum 5% affordable housing units

    • 2. Community Benefits Agreement — LCPL will provide $14 million to the City for the Lakeview Pier and cultural amenities

    From Industrial Site to Canada's Largest Waterfront Community

    Lakeview Village sits on the former Lakeview Power Generating Station site, a 177-acre parcel that has been in planning since 2010 when the City launched Inspiration Lakeview. Key milestones include:

  • 2019: Lakeview Waterfront Master Plan endorsed by Council
  • 2021: Draft plan of subdivision and rezoning approved
  • May 2023: Provincial Ministerial Zoning Order (MZO) doubled density from 8,050 to 16,000 units
  • 2024: City Council approves subdivision and community benefits agreements

    • The development is a centrepiece of Growing Mississauga, the City's Action Plan for New Housing.

    What Lakeview Village Will Include

    When complete, the community will feature:

  • ~16,000 new homes across townhomes, mid-rise, and high-rise buildings
  • 28,000–40,000 new residents
  • 9,000 jobs created on site
  • 1.9 million sq ft of office space
  • 200,000+ sq ft of retail
  • 20+ acre Innovation District
  • 451 acres of green space with access to 1,500+ acres of parkland
  • Direct Lake Ontario waterfront access

    • Why The South Banks Towns Is the Smart Entry Point

    As one of the first projects to launch within this massive master-planned community, The South Banks Towns by DECO Homes & OPUS Homes offers a rare window of opportunity:

  • 3-storey townhomes with up to 4 bedrooms from the high $700s
  • Free parking included — a rarity in new developments
  • Smart home technology, 9ft ceilings, premium finishes as standard
  • Located at Lakeshore Road East & Hydro Road, steps from the waterfront
  • 4 min to Long Branch GO, 9 min to Sherway Gardens, 20 min to Downtown Toronto

    • Early buyers in master-planned communities historically see the strongest appreciation as the neighbourhood matures and amenities are delivered.

    Key pages

    Sales by Condo Circle — +1-289-400-0110 — Info@condocircle.ca. We do not represent the builder. Renderings are artist's concept. E.&O.E.