Living in the Hurontario/Burhamthorpe area of Mississauga is a compromise between super suburbia and downtown T.O. You get to experience some "downtown-like" atmosphere but without the huge crowds. With Celebration Square, it's gotten even better. It's clean, has a good stage and sound system and always has good events (Canada Day, NYE, ribfest, South Asian festivals, etc.). In addition, they also have free movie nights.
The Canada Day events are really top notch too since they always have a star singer (Down with Webster - 2013 and Carly Rae Jepsen - 2012).
I think this place will start getting better and better attractions than Yonge-Dundas and Nathan Phillips soon too. Yeah, my real estate will go up in value! lol.