Ontario Power Generation is transferring a portion of the former Lakeview Generating Station site to the City of Mississauga.

Mississauga city council approved a motion for staff to negotiate the terms of the land transfer following an in-camera meeting on Wednesday. According to OPG spokesperson Neal Kelly, a 67-acre portion of the site will be transferred to the city to carry out the Inspiration Lakeview master plan.

“Last year, OPG was told by the province to sell the site and ensure a portion of the property is transferred to the City of Mississauga for institutional, cultural and parkland purposes,” said Kelly. “This direction is reflective of the long-standing partnership between the City of Mississauga, OPG and the province for the redevelopment of the Lakeview area.”

The 245-acre lakefront site is the largest undeveloped waterfront property in the GTHA. OPG owns 158 acres; the remaining 87 acres are business employment lands.

When redeveloped, the site will be broken down into four distinct precincts — Rangeview Estates, Ogden Village, Innovation Corridor and Cultural Waterfront — to reflect differences in the planned function and character of the area.

The precincts will feature predominantly mid-rise residential, a central retail hub, community gathering spaces and a high-tech green campus with office, business employment and research and development opportunities.

The Cultural Waterfront precinct, located along Lake Ontario at the southern end of the site, will provide direct access to the waterfront and will incorporate a variety of mixed uses, including waterfront attractions and incubator spaces for local artists.

Remediation of the OPG lands must occur before the redevelopment can move forward. Kelly told The News a “future purchaser” will remediate the site, then transfer it to the city upon completion of the work.

With negotiations still underway, Kelly could not confirm who would be completing the work.

“OPG was directed by the province to sell the site and ensure a portion is transferred to the city and that process is underway,” he said.