65-Story Residential High-Rise Proposed for Toronto's Financial District

Toronto. Photo by Azar ahmadi on Unsplash

15 April 2025 | Toronto, Canada

CTBUH has confirmed that a new proposal for a 65-story skyscraper has been submitted to the City of Toronto. The joint application by KingSett Capital, QuadReal, and the British Columbia Investment Management Corporation (bcIMC) proposed to redevelop 60 Yonge Street in central Toronto, seeking a Zoning By-law Amendment to permit a 246.2-meter residential building designed by Adrian Smith + Gordon Gill Architecture. The existing 12-story office building on the site, constructed in 1958 and now largely vacant, would be demolished to make way for the new development.

The proposed high-rise includes 649 residential units and does not include on-site parking, citing proximity to multiple public transit lines. The adjacent 8-story Hotel Victoria at 56 Yonge Street, a designated heritage building, would be retained. The new tower would cantilever 3.6 meters over a portion of the hotel property through a transfer of development rights. No physical alterations are proposed to the existing hotel structure.

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The applicants have also requested an exemption from the city’s requirement to replace the 8,688 square meters of non-residential floor area currently on the site, as required for developments within the Financial District.

The site is located within walking distance of several subway stations and is directly connected to the PATH pedestrian network.