Urban Capital has acquired over four acres of development land in Mississauga in a deal with its long-time M City development partner Rogers Real Estate Development Ltd.

The additional lands will underpin the planned development of three additional highrises, M6, M7 and M8, in the master-planned community located at the corner of Burnhamthorpe Road West and Confederation Parkway.

No financial details of the transaction have been announced.

"Encompassing more than four acres and 1.5 million square feet of gross floor area, the lands form the next chapter of a development that has helped redefine downtown Mississauga's skyline," Urban Capital said in a press release announcing the acquisition.

The move extends Urban Capital's involvement in the community, which has been under development since 2009. Towers M1 and M2 have already been completed, M3 topped off last October and M4 and M5 are currently under construction.

"Having been involved in M City from the very beginning, we have a deep connection to this community and its future," Urban Capital partner Mark Reeve said in the announcement. "We are grateful to Rogers for more than a decade of collaboration on M City. In particular, we are grateful to John Anderton of Rogers Real Estate Development Limited. John has been critical to the success of M City and we are very proud of what we have accomplished together."

The greater vision for M City

Urban Capital and Rogers have worked closely on the development for over 15 years.

At completion, M City is intended to be a 15-acre community with over 6,000 homes in eight towers, 60,000 square feet of retail space, 15,000 square feet of office space and more than two acres of new public parkland.

There are more than 1,570 condo units in M City’s completed and occupied 62-storey M1 and M2 twin condo towers.

With the development of the 900-unit, 81-storey M3 condominium, M City became home to Mississauga's tallest building. M3 was topped off in October 2025 and occupancy is expected to start this year.

The 67-storey, 954-unit M4 condo and the 36-storey M5 condo, with 430 units, are under construction with completion scheduled for 2028.

Bringing M City to completion

Rogers Real Estate Development Limited is a private holding company controlled by the family of Edward Rogers, the long-time chairman of Rogers Communications. His father, the late Ted Rogers, bought the land that houses M City in the 1960s. 

To date, Rogers has been the owner and developer of M City, which Bloomberg valued at $1.5 billion in 2018. It engaged the services of Urban Capital to manage the development. 

With the acquisition, Urban Capital expands its role into equity owner and master developer for the final phases of the project.

"Urban Capital's acquisition of the remaining M City land is an opportunity to carry that work forward and deliver on our original ambition: a world-class, complete community in the heart of downtown Mississauga," Reeve added. "We started something special here - and we're not finished yet."

The company has worked closely with Rogers from the earliest planning and development approvals, overseeing over 5.2 million square feet of construction.

"Urban Capital has been instrumental in bringing M City to life, guiding the community from its earliest planning stages through record-setting sales and the delivery of internationally recognized architecture," Rogers' John Anderton said. 

"Mark Reeve and his team have brought vision, dedication and a deeply collaborative approach to every stage of our work together.

"We are proud of what we have accomplished and have every confidence in Urban Capital's ability to build on that success as M City enters this exciting next chapter."

The final three buildings

Urban Capital hopes to build on that foundation as it advances the final three buildings. The company said details of the next phases will be announced as plans progress.

In October 2025, Urban Capital told RENX over 30 per cent of the 889 units at the 58-storey Hariri Pontarini Architects-designed M6 condo tower had already been sold, although the start of construction has yet to be announced.

Urban Capital vice-president Steven Barr said at the time, the development team was considering pivoting the 50-storey M7 and 45-storey M8 to purpose-built rental towers.

M7 and M8 combined are designed to offer approximately 1,450 units and will share a podium and underground parking.

Urban Capital is a Canadian real estate developer that has delivered more than 11,000 urban condominiums in the GTA and markets across Canada, including Ottawa, Montréal, Winnipeg, Saskatoon and Halifax since 1996. 

EDITOR'S NOTE: RENX has reached out to Urban Capital for additional comment and this article will be updated should additional information become available.