Most new rental buildings in the GTA are designed for young professionals: compact suites, co-working lounges and a short walk to transit. Morguard's newest project is aimed at a different renter. The company believes empty nesters will make up most of the tenants at Boulevard on the Green, its 431-suite development in Mississauga's East Mineola neighbourhood.[1]

The project

Boulevard on the Green, at 725 Village Green Boulevard, has one nine-storey and two eight-storey buildings on a 3.7-acre site. It broke ground in August 2024 and held its topping-off ceremony on October 7. The buildings are now enclosed, and work has moved to the interiors.[1]

Morguard plans to open a leasing office, amenity spaces and model suites next June, with occupancy starting next fall. It expects lease-up to take 12 to 18 months. Rents haven't been set.[1]

The suite mix ranges from studios to three-bedrooms and townhouses, but is heavily weighted toward one- and two-bedroom units. There will be about 550 underground parking spaces, a ratio of about 1.3 per unit, and the project is targeting LEED Gold, with heat-recovery ventilation, rainwater capture and EV-ready parking.[1]

Why empty nesters

Brian Athey, Morguard's senior vice-president of development, said Mineola is mostly single-family homes, many of them large. Morguard expects owners who want to downsize but stay near family to see the building as a way to do that.[1]

That is a specific bet on Ontario's demographics. Statistics Canada says Canada's population is aging again as international migration slows: the median age reached 40.9 on July 1, 2026, and the number of people in their 20s fell by almost 155,000 in a year.[2] In a suburb like Mineola, the most likely new renters may be long-time homeowners rather than newcomers.

Athey also said there are few new rental projects in Mississauga, and that the building should appeal to younger families and couples without children as well.[1]

Security of tenure as a selling point

Athey framed renting from a corporate landlord as offering what Morguard calls security of tenure. A tenant renting a condo from an investor faces the risk that the owner will sell or move back in. In a purpose-built rental, he said, tenants can keep renewing and stay as long as they want.[1]

Recent changes to Ontario's tenancy rules make the distinction clearer. Since September 21, a landlord who gives at least 120 days' notice to end a tenancy for their own use no longer has to pay compensation or offer another unit.[3] That rule matters most to tenants in units owned by individuals, such as investor-owned condos. Own-use notices are tied to the landlord or close family members moving in, so they are mostly a risk for tenants of individual owners.

For downsizers selling a family home, the possibility of being asked to leave after a few years is a real concern. A purpose-built building removes that particular risk.

Amenities designed for a broader age range

The amenities reflect the target market. Along with a gym and co-working space, Boulevard on the Green includes a quiet room for yoga, a golf simulator, a wine lounge, a chef's kitchen and private dining room, a greenhouse where tenants can grow food, rooftop terraces with barbecues, a putting area and pet facilities.[1] The location is near the waterfront and Port Credit GO station, with access to the Queen Elizabeth Way.

The 1.3 parking ratio is notable. Many new urban rentals are being built with little or no parking. Morguard said that if tenants want two spaces, it will very likely be able to provide them,[1] which suggests it expects car-owning households.

What this says about the 905 rental market

Morguard has no other rental projects under construction, but about a dozen in various stages of planning, many tied to its shopping centres in Mississauga, Brampton, Toronto, Ottawa and Vancouver.[1] Athey described the rental market as quite strong and a good asset class to be in.[1]

The broader point for investors and developers is that suburban rental demand doesn't have to come from the same renters as downtown demand. As population growth from immigration slows, a building aimed at local, older, car-owning households is a different bet from one aimed at young newcomers. The 12- to 18-month lease-up Morguard expects will be a good test of how deep that market is.

Sources

[1] Morguard tops off 431-unit rental project in Mississauga's East Mineola, RENX (Oct. 14, 2026): https://renx.ca/morguard-tops-off-431-unit-rental-project-in-mississaugas-east-mineola

[2] Canada's population estimates: Age and gender, 2026, Statistics Canada, The Daily (Sept. 23, 2026): https://www150.statcan.gc.ca/n1/daily-quotidien/260923/dq260923a-eng.htm

[3] LTB: Operational Update: Legislative Changes at the Landlord and Tenant Board, Effective September 21, 2026, Tribunals Ontario (Sept. 21, 2026): https://tribunalsontario.ca/2026/09/21/ltb-operational-update-legislative-changes-at-the-landlord-and-tenant-board-effective-september-21-2026/