If you are considering buying a home in Mississauga, we’d like to give you a detail real estate profile of one of the best neighbourhoods in the city – Port Credit.
It’s a large urban area at the mouth of the Credit River that is stretching along the Lake Ontario shores. It is often referred to as Mississauga’s “Village on the Lake”. Port Credit’s boundaries are the Queen Elizabeth Way to the north, Seneca Avenue and the western edge of the Adamson Estate to the east and Godfrey’s Lane and the townhouse complex located on the west side of Shawnmarr Road to the west.
Port Credit Real Estate
Port Credit offers a lifestyle that you cannot get anywhere else in Mississauga. All the best that Port Credit has to offer is within walking distance. Easy access to Downtown Toronto (20 minutes by GO train), excellent waterfront parks and trails, great shopping and dining are making Port Credit an ideal place for the well to do lifestyle buyers.
Port Credit real estate has been undergoing a major revitalization. Newly constructed luxury high rise condominiums and luxury townhomes have been built. Smaller and older houses are being renovated into upgraded or luxury residences that offer a modern urban lifestyle.
Homes in Port Credit are a mix of historic century homes, pre-war and post-war suburban style houses and modern condominiums and townhomes:
- Pre-war houses mostly located in the Memorial Park area, east of the Credit River, or in the areas south of Lakeshore Rd. It’s old village of Port Credit with small unique shops and restaurants. Parks and waterfront are just nearby. Some of the houses are of century old and need updating, and they are much liked by developers and investors.
- Post-war homes mostly located in the Hiawatha Park area, west of the Credit River. This is the most affordable option for buyers looking for a home in Port Credit community.
- Luxury Tall Oaks condominiums and townhomes appeal to affluent buyers looking for a comfortable urban lifestyle close to the lake. They are more expensive (sometimes – much more) than the similar ones in other areas of Mississauga.
Historically, Port Credit is much older that Mississauga. The land is used intensely and all zonings are settled. That’s why lot sizes in Port Credit are smaller than in other luxury areas of the city; and that’s why you can find very expensive properties backing unpleasant rental apartments or rail road tracks. Here, many old houses have been renovated, upgraded and even sophisticated, which reflects in the home prices.
Be prepared to see different types of mix in Port Credit: a mix of luxury residences and very modest old homes; a mix in houses prices and looks; a mix of renters and homeowners; a mix of different people from different backgrounds. And on top of it – lots of visitors, especially during the warm months.
Port Credit Housing
The most common Port Credit dwelling type is apartment. Port Credit top 3 types of housing are:
- Apartment – over 60.0%
- Detached house – 21.0%
- Row house – 8.2%
About 30% of the population are homeowners, and about 70% are renters.
According to the 2011 Census, Port Credit population was 10,965. Port Credit is the community with the high percentage of people of 65 years old and older (12.3% of total population) and families with no children living at home. Almost half of the population of 15 years and over is married. Over 60% of the population live in one or two person households, so the average household size is small.
Ethnic origin is an attempt to classify people according to their ethnic or cultural origins of their ancestors. An ancestor is someone from whom a person is descended and is usually more distant than a grandparent. It is not the same as place of birth, citizenship or nationality. For example, one who was born in Canada and speaks English is descended from immigrants speaking some other language and may speak that language and may participate in their culture. In Port Credit, top five most common ethnic origins are: Canadian, English, Polish, Scottish, and Irish. About one-third of the population is immigrants.
South Asians (2.5%), Arab (2.1%) and Blacks (1.9%) are the largest visible minorities, which comprise the small percentage of residents belonging to the visible minority population in Mississauga.
The predominant mother language is English (86.0%), followed by Polish (3.8%) and Arab (1.7%). Over 90% of the population has knowledge of an official language, which is higher than in Mississauga
Among all Mississauga neighbourhoods, people living in Port Credit have the high level of postsecondary education: over 60.0% of population of 20 years of age and over has high school, trade, college, or university education (Mississauga’s average is 55.9%).
Top 3 Religions:
Christians – over 50%; no religion – about 20%; Muslims – 6%
Employment & Income:
An average after-tax individual and household income is about $60,000 that is lower than average in Mississauga (over $80,000). The largest occupation types for people living in Port Credit are: sales and service, business, finance and administration. The top three industries employing people are: manufacturing, retail trade and professional, scientific and technical services. Port Credit homeowners spend 30% or more of their household income on major payments: mortgage, electricity, heat and municipal services. People who rent spend about 30% of household income on rent payments.
- Schools: There are not too many schools in Port Credit, which means that more likely you have to transport your child to school. So, think how it might impact your lifestyle and working schedule. Port Credit public secondary school is a good one taking its place among the top 25% of all schools in Ontario. Forest Avenue elementary school is a strong performing school for kids.
- Port Credit Library: The Port Credit Library, located on 20 Lakeshore Road East, sits beside the Credit River and a large public park. Recently the Library was redeveloped as part of the Ontario Government’s Infrastructure Stimulus Fund.
Port Credit today is a vibrant waterfront neighbourhood in Mississauga, with its small town charm and big city amenities, it is often referred to as the Jewel in the Crown of Mississauga.
Just a short walk away from the Lake Ontario you are at the heart of Port Credit Village – a paradise for shoppers and diners with the town’s old fashioned atmosphere. You’ll definitely enjoy this unique experience. It offers something for everyone: a wide array of retail stores, restaurants, services and cafes, all within steps from each other.
A replica of Port Credit’s lighthouse was built by the Lions Club of Credit Valley atop a sewage pumping station; it is the home of the local BIA and Tourist Bureau and the logo for many local organizations.
What is BIA?
BIA is a Business Improvement Area where local commercial property owners and tenants are working together to enhance the safety, look and feel of their neighbourhoods to attract more people to shop and dine, as well as to draw new businesses to their area.
Port Credit BIA
Port Credit BIA boasts over 400 unique businesses of all kinds:
- clothing, books, music, giftware, health foods and home décor shops
- foods and drinks from all over the globe in the restaurants and cafes
- professional services that include legal, medical, financial, travel, internet and a growing variety of health and wellness centres
With its goal to provide an excellent environment for shopping, dining, entertainment and professional services, the BIA makes Port Credit an exciting place to live, work, and play..
The Farmers Market: you have the opportunity to purchase some of the finest produce that Port Credit has to offer at the farmers market that takes place on Saturdays from June 15 to October 24.
Cultural and Active Life
Port Credit is Mississauga’s hub for shopping, events, music and dining. It is one of the City’s top cultural, entertainment and culinary districts boasting world class restaurants and award-winning festivals and events.
Port Credit hosts several festivals and events that are well known in the GTA:
- Waterfront Festival which occurs at the end of June
- The Port Credit In-Water Boat Show is Ontario’s largest in-water boat show held in August at the Port Credit Harbour Marina every year.
- Southside Shuffle, an annual September three day Blues and Jazz festival that includes the Mississauga Music Walk of Fame.
- “Port Credit’s Busker Fest” held in August.
- The MWF Festival attracts over 50,000 visitors per year from the GTA and border cities in the U.S. It is Mississauga’s signature family oriented event that received recognition as a top 100 festival in Ontario for ten years to date. Over 600 performers take part in this festival annually. The event does not fail to attract children’s favourites Max n Ruby, Barney, Dora the Explorer, Babar the Elephant, and Shrek. Aside from entertainment performances, the event includes educational programs focused on the topics of endangered species, health and wellness, and conservation.
The Port Credit arena was constructed in 1959. It is the second covered arena in the city of Mississauga, the first public arena built, and is the oldest surviving arena in the city. It is the home of the Port Credit Storm hockey teams.
Port Credit has over 225km of scenic walkways and trails that accentuate the beauty of Mississauga. Lots of green spaces and beautiful public parks are located there.
- Lakefront Promenade Park has two most prominent features: a location at the water’s edge and leisure walkways. It is one of the largest waterfront developments in Ontario with over 40ha (104 acres) of green space that offers an extensive board walk and walking trails, a children’s play area, a beach area, 3 comfort stations, playground, water splash pad and a marina that offers berths for 170 boats and year round fishing spots.
- Mississauga’s Waterfront Trail is a 21.5km (15 miles) continuous scenic route along Lake Ontario, stretching from Etobicoke Creek to the Oakville Border. Mississauga’s Waterfront Trail runs from Marie Curtis Park in Etobicoke, through Lakefront Promenade Park west to Joshua Creek at the Oakville border. Even if you take just a little walk along the Waterfront Trail you will almost always find someone fishing, feeding the ducks, or seating on the loan enjoying the view.
- The Lakefront Promenade Marina is located in the center of Port Credit, in one of the largest and most beautiful parks, and has first class docking and boating facilities providing docking for ships up to 45’ in length. The marina has a harming outdoor eatery.
Nowadays, the most common means of transportation in Port Credit is by car. Port Credit has easy access to the nearby Queen Elizabeth Way (QEW). Over the years the railway has expanded to three tracks; its prime importance to Port Credit is the GO Train service carrying people to and from Toronto. The majority of the residences are within walking distance of the Port Credit GO Station just north of the intersection of Lakeshore and Hurontario Street. This is a transportation hub of Southern Mississauga, linking both the city’s bus system MiWay and GO Transit. Unlike the rest of Mississauga, Port Credit is a pedestrian friendly community: everything is of walking distance here.
The Port Credit area was long established by native peoples. Before the arrival of the Europeans it was the land of the Mississauga Ojibwa band. The location became used as a meeting place between the band and white traders, and the river was known to them as the Missinhe or “trusting creek”. In the 1700s, a trading post at the mouth of the river was established, and as a result of allowing the Mississaugas to trade on credit, the river got its name – Credit River. Lieutenant Governor John Graves Simcoe ordered construction of the Government Inn to serve travellers and traders who came here by land and lake. It was the first permanent structure built at the site by the English serving people for over 60 years until its destruction by fire in 1861. The Mississaugas lands continued to shrink over time and in 1826 the British government constructed a 30 house village for them near the fledgling community. Soon after, the Mississaugas were relocated to the New Credit Reserve near Brantford, Ontario. Different industries were established there including the railway, the port, an oil refinery, and the St. Lawrence Starch Company. In 1974 Port Credit was amalgamated into the City of Mississauga.
Is it right for you to buy a property in Port Credit?
A charm you can find in Port Credit you just cannot find anywhere in Mississauga. Port Credit is a vibrant waterfront community, brimming with history, culture and personality. Each year Port Credit attracts hundreds of thousands of tourists due to its beauty and uniqueness. Tourism has the potential to boom real estate, as well as increase investment in the area. On the other hand, Port Credit is extremely busy during the “outdoor” months when the weather is nice and warm.
So, if you want to buy a renovated and updated home, you would better have around $1 million to spend. If you prefer a fixer-upper home, they are cheaper but will need lots of money (maybe hundred thousands) for upgrades. If you are looking for brand new while affordable home it’s not the case.
Even though real estate in Port Credit is an urban mix and some areas look far from pleasant, the home prices here are very high, outside the budget of many home buyers. So, one of the main drawbacks to Port Credit real estate is its price.