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What's the history of this site before it became available for development?
It used to be the Imperial Oil site.
http://urbantoronto.ca/news/2017/05/port-credit-72-acre-imperial-oil-site-slated-development
26618-92956.png

from City of Mississauga circa 1978
 
I imagine the environmental clean-up problem will be similar to the Lower Don Lands project (image here).
Will people actually want to live/work on such once-contaminated property?
Do you have any images of Love Canal, NY?

tank farm in PortLands 1972.jpg
 

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I don't have any of my own pictures of NY's Love Canal but I've seen plenty on the Internet. Once the West Village land is cleaned-up, people will flock to live and work in the area. The City of Mississauga will no doubt have to address transit/road issues as there is only one bridge that crosses the Credit River. The Port Credit marina is going to be redeveloped as well.
 
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