I'm conflicted, actually. It's beautiful what they want to do, but this is one of the worst possible locations to develop into a high density node, if only because of its being right next to the 427. If we get rapid transit along Dundas Street in Mississauga, it should be extended eastwards to hit Cloverdale, for sure.
Barring the highway next to it, I think it would be smart to redevelop this area, instead of continuing to compete with Sherway Gardens as a mall. It's definitely something other smaller malls should keep in mind (cough Lawrence Square cough).