Lakeview: Mississauga's Cheapest Waterfront Rent, Its Most Expensive Buy-In

Lakeview sits on Mississauga's eastern waterfront, between Port Credit and the Toronto border, and for most of its modern history it has been defined by one thing: the coal-fired Lakeview Generating Station that operated on its shoreline until 2005. That site has sat dormant for two decades — and is now the centre of one of the largest waterfront redevelopments in Canada. Lakeview Village will eventually bring up to 16,000 residential units, an Innovation Corridor projected to create 9,000 jobs, and over 45 acres of new parkland to a 177-acre site that has been essentially frozen in time since the plant's demolition.

That transformation is still years away — the City projects first occupancy for the earliest buildings around 2029, with full build-out unfolding over 15 to 20 years — but the financial effects are already visible in two completely different markets. Renters in existing Lakeview housing stock are paying some of the lowest rents in the city, because the neighbourhood's amenities, transit access, and retail base genuinely lag behind Port Credit and other established waterfront communities. Buyers, on the other hand, are paying a premium that has little to do with what exists today and everything to do with what the City of Mississauga has already approved for tomorrow.

This hub tracks both sides of that gap: what Lakeview actually costs to rent right now, what it costs to buy in ahead of a multi-decade transformation, and what your property tax bill, electricity provider, and commute options look like in the meantime. Every figure comes from primary sources — City of Mississauga planning documents, MPAC, Peel Region, and current MLS® listing data — not generic Ontario averages.