In last video, we discussed the many benefits of moving out of downtown Toronto and into South Mississauga and the neighborhood of Lakeview. The proximity to the core, the price points, and the lifestyle make this a desirable place to live.
Now before we dive deep into all this, I feel it's just as important to discuss the rich, diverse history that Lakeview has to offer. Originally home to the Mississaugas and Aboriginal First Nation. The land was first voted up, for Seven by non-natives in 1806. And it really started flourishing and evolved as a community after World War One. The southern part of Lakeview closest to Lake Ontario played a vital role in Canada's national defense and was home to the Ontario Rifle Range from 1891 to 1957, a training ground for Canada's soldiers. The Curtiss Aviation School Canada's first airport, which housed the Royal Flying Corps of World War One and World War Two. The Canada Small Arms Limited and weapons factory.
On the same lands, the Lakeview generating station was opened on June 20th, 1962. At that time, it was considered the largest coal fire station in the world. It housed four smokestacks measured 146 meters tall and was a local landmark. The advent of this created a housing boom in Lakeview, we could see a lot of homes and entire subdivisions that were built in between the 50s and 60s, consisting of bungalows and half 1 1/2 story homes. Notable Builders were Shipp and Saracini, even Kaneff started out Lakeview. Now I'm glad that the Ontario government decided to close down Lakeview Generating Station in 2005. It was a true eyesore, terrible for the environment, and our health, and more importantly was terrible for real estate values. Who would want to buy a house next to the largest generating station in the world called the Four Sisters, to make matters worse, massive hydro towers were built to the center of the Lakeview to carry the huge amounts of electricity that was generated by the station.
Good news, they're no longer active and are commissioned to be taken down sometime in the future. This has been great for real estate values and more recently, this land of 177 acres, which was owned by the Ontario Power Generation was sold and is to be redeveloped into Lakeview inspiration master plan. This entire site will be transformed into a mixed-use community with a variety of residential building types, Parkland, cultural and employment uses with buildings featuring sustainable designs. It is estimated that development will cost billions and billions of dollars. In the last 15 years, there have been some significant positive changes in the community, major development, and transformation. In the coming years, the Lakeview Inspiration Master plan will be a model for future mixed-use waterfront development around the world.
This is Jessie Banwait with the Jessie Banwait Team. Stay tuned for why Lakeview is the right place for you.