Ontario Power Generation (OPG) has completed the sale of its 177 acre former coal-fired Lakeview generating station (GS) site in Mississauga to Lakeview Community Partners Limited. The former coal-fired power plant site will be transformed to a mixed-use community with parkland.
The province, OPG and the City of Mississauga have worked together to develop a shared vision for the site resulting in the Inspiration Lakeview Master Plan. The plan calls for the brownfield site to transform to a mixed-use community with a variety of residential building types, parkland, cultural and employment uses, with buildings featuring environmentally sustainable designs.
The Lakeview GS was one of five shutdown OPG coal-fired power plants that contributed to climate change. Four of these sites have transitioned to new uses, which include a new solar farm in development at Nanticoke GS and conversions to renewable biomass fuel at Thunder Bay GS and Atikokan GS. OPG is now one of the cleanest electricity producers in North America with its power more than 99% free of smog and carbon emissions.
The sale price of the Lakeview lands is approximately CAN$275 million, subject to closing adjustments. The conditions of sale include a requirement that 67 acres of waterfront land will be remediated and transferred to the City of Mississauga. The net proceeds from the sale of Lakeview lands will be transferred to Ontario's Trillium Trust to fund transit, transportation and other key infrastructure projects across the province.
Lakeview Community Partners Limited is a consortium of developers that includes Argo Development Corporation, TACC Construction Limited, Branthaven Homes, Greenpark Group, and CCI Development Group of Companies.
Media and the local community are invited to a launch event, hosted by OPG and the Government of Ontario, to celebrate the future of the Lakeview lands to be held on 10 April 2018 at the Carmen Corbasson Community Centre in Mississauga at 6pm.
Jeff Lyash, OPG President and Chief Executive Officer, stated: “OPG is proud of its role to transform Lakeview, a major source of carbon emissions for over 40 years, to a vibrant mixed-use community that will become the jewel of Mississauga's waterfront. This site is one of the largest undeveloped parcel of waterfront lands left in the GTHA and the fourth former OPG coal plant site to transition to a new, environmentally friendly use."
Read the article online at: https://www.worldcoal.com/power/21032018/former-coal-fired-plant-to-be-transformed-into-a-mixed-use-community/
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