Ahmed Group plans to proceed with a proposed 568-unit multi-family rental project in Mississauga, Ont., after settling a dispute with Mother Parkers.

“This step marks a significant move forward with the parties now moving towards the [Ontario Land Tribunal’s] endorsement of the settlement,” said Mississauga-based Ahmed in a news release.

The two-tower project site is located at 1000 and 1024 Dundas Street.

In the news release, mayoralty candidate Carolyn Parrish, said the units are qualifying for major funding from the Canada Mortgage and Housing Corporation, which has several incentive programs designed to foster purpose-built rental housing construction.

According to an Insauga.com report, the proposed project was stalled in 2023 as Mother Parkers argued that the location was not appropriate for residential development. Mother Parkers contended that proposed towers would be two close to residents, and odours from the manufacturer would impact residents.

A used car dealership and furniture store currently occupy the property.

Photo: Courtesy of Ahmed Group

Get Ready for Canada Kick-off

Connect CRE will hold its inaugural Canada Kick-off Event in Toronto on June 11. This will be Connect’s first commercial real estate industry conference in Canada. Panelists will include Syl Apps, managing director and co-country head for Hines; Lindsay Brand, chief investment officer at Concert Properties; Mark Kenney, CEO of Canadian Apartment Properties REIT; and, Marie-France Benoit, Avison Young’s director of Canadian market intelligence. Come and gain insights from industry leaders on such matters as buyer sentiment amid a lower interest-rate environment, cross-border commercial real estate transaction trends, and investors’ outlook for 2024 and beyond. Register today.