South Banks is the newest release in Lakeview, the waterfront district going up on the old power plant lands at the foot of Hydro Road. Sales opened on September 22, 2026. The homes are townhouses with underground parking and private rooftop terraces, which makes them the lowest-priced way to own a new home with outdoor space this close to the lake in Mississauga.
Prices and plans
| Plan | Starting price |
|---|---|
| Two bedrooms, parking included | $549,900 |
| Three bedrooms | $600,000 |
| Four bedrooms | From the $700,000s |
A two-bedroom plan with parking at $549,900 is unusual for a new townhouse south of the QEW. Ask which plans back onto the park and which face Lakeshore Road, because the price list separates them and the difference in traffic noise is real.
The deposit, in plain numbers
The builders offer two schedules. The shorter one totals $60,000 paid over 330 days. The longer one totals $85,000 paid over 510 days. On the $549,900 plan the shorter schedule works out to about 11 per cent of the price, so you would need the remaining down payment and closing costs by 2029. If you are selling a home to fund this purchase, the long gap before completion gives you time, but your mortgage approval will be based on rates and income at closing, not today.
Where it is
The site is at Lakeshore Road East and Hydro Road, in the southeast corner of Mississauga near the Etobicoke border. Long Branch GO station is a short drive or bus ride east, and the Lakeshore West line runs from there to Union Station. Port Credit is a few minutes west along Lakeshore. The Waterfront Trail and Lakefront Promenade Park are within walking distance.
Expect construction around you for several years. Lakeview is being built in phases, and new roads, parks and shops will open over time, not all at once.
Who it suits
- First-time buyers who want more than a condo apartment and can wait until 2029.
- Downsizers from Lorne Park, Mineola or south Etobicoke who want to stay near the lake without a yard to maintain.
- Buyers comparing with resale condo townhouses, which averaged $706,892 in Mississauga in August 2026.
Questions to ask before you sign
- What is the monthly maintenance fee, and does it cover the underground garage and rooftop membrane?
- Is the home a condominium or a freehold lot with a shared-elements fee?
- Are development charges and levies capped in the agreement?
- Can the purchase be assigned before closing, and at what fee?
Closing costs at the starting price
Land transfer tax on $549,900 in Mississauga is about $7,473, or $3,473 for a first-time buyer after rebates. New homes also carry builder closing adjustments such as development charges, utility connections and Tarion enrolment, which are set out in the agreement and are often capped on request. Have a lawyer review the agreement during the 10-day cooling-off period on a new condominium. The land transfer tax calculator and the HST rebate guide cover the rest.