Not having the loop would likely increase the land value closer to Hurontario Street (assuming people will pay more to live closer to an LRT stop). That would probably hasten the replacement of the parking lots on the north, east and south sides of Square One with a real urban fabric.
The elephant in the city core that stopping the city to built a so call downtown is OMER'S, owners of Sq One Mall since they own most of the land around the mall in the first place.
As long as the city continue to allow the mall to expand like it is now as a single story waste of space, along with pads, land value will rise slow.
OMER'S has some sort of plan for higher density development, but fall short of what could really go in for this area. Everyone dreams of having 40% of the area being used as office space and not going to happen.
There has been a few proposals by other landowners along Hurontario for mix development, but gone no where.
One thing the city needs badly now is a new transit hub that will support up to 125-150,000 daily riders. The current one was built for 25,000 and out dated before they started to build it and currently sees 50,000 plus 5,000 for GO.
The best place for the terminal is in that plaza area beside Hurontario with mix development above it. I know I have the full support of city staff on that land for a hub going back to 2004. Even the owner of the Sherwood business complexes across the street from it love the idea as it would help workers to get there fast and easy compare today method.
Was by the terminal yesterday and they have the shelter area close off for the Transitway. The shelter is too small to hold all the riders for any of the routes it service, let alone all of them. CHEAP CHEAP is the standard way for Mississauga when it come to transit.
Cheap to build surface parking lots and take away from good urban design land use.