1 Port Street is situated in the community of Port Credit (in the City of Mississauga), on the shores of Lake Ontario at the mouth of the Credit River. Canada Lands Company acquired the site from the Department of Fisheries and Oceans (DFO) in early 2011.
The 1 Port Street site includes an approximately 49-acre (20.2-hectare) water lot and 18.3 acres (7.4 hectares) of tableland. The site also includes a three-story office building, a wharf shed, an operating marina with slippage for approximately 800 boats and related other marina facilities.
The site is currently under lease to Centre City Capital Ltd. Canada Lands Company has conducted an engagement program working with stakeholders, elected officials and the general public to prepare a new vision for the property and in July 2017, the City adopted an amendment to its Official Community Plan, establishing the basis for future redevelopment of the lands as a mixed use neighbourhood reflecting its marine history, offering commercial and marina opportunities, as well as a range of housing types and tenures, with new open spaces and a public walk way surrounding the site that connects to the broader system of waterfront walkways in Port Credit.
In January 2018, the City of Mississauga and Canada Lands Company announced an agreement regarding the long-term protection of the Port Credit marina, a key community and marina stakeholder objective identified during Canada Lands’ and the City’s Inspiration Port Credit community consultation process. The marina agreement includes the City acquiring ownership of land at the base of the marina and the entire water lot over time. One transaction has occurred, giving the City ownership of lands at the foreshore and the east breakwater, and the second transaction is conditional on the City obtaining additional funding to support the vision for a publicly operated marina.