In a ceremony Bonnie Crombie, Mayor of Mississauga, Deepak Anand, MPP, and prominent members of Canada’s Afghan community, Business Point broke ground on their new industrial condos.
The project, named 5250 Solar Drive, is 41-unit multi-use industrial condos based in Mississauga’s Airport Corporate Center. The project is expected to come live in the fall of 2020, when the city approves the building and new businesses move in.
Crombie was proud that Business Point chose Mississauga as the location of their units. “My business as the Mayor is to bring Businesses to Mississauga.” Crombie said. She is also happy that an Afghan community is thriving in Mississauga.
Anand lauded the industrial project’s outcome of supporting small and medium-sized businesses, who are being pushed out of the market by multi-national players.
“Global ecommerce companies such as Amazon and Spotify are buying up industrial units across the Greater Toronto Area and driving up prices.” James Hussaini, President at Business Point said. “We are building these units to support smaller companies who have nowhere else to base their business.”
Industrial units in Toronto are following a trend seen across all major cities in North America. With the rise of ecommerce, demand for industrial units is rising too. Without new industrial units to meet this new demand, traditional businesses that required industrial space feel stressed.