A new 98-storey structure is being proposed in Toronto that would become the tallest building in Canada. The mixed-use development would include ground floor retail and office space, residential space, and an underground parking garage.
The proposed site for the massive tower is located at Yonge Street and Gerrard Street East. The site would include eight municipal addresses of 363 – 391. Cresford, the current owners of the site have been working on a design since the original application was filed in April 2015.
“A unique mixed-use development will contribute positively to this exciting transformation,” states a Project Rationale. “Retail space at grade, below and above, will be woven through and connected with heritage facades creating a pleasant pedestrian-friendly public realm and shopping experience.”
Currently, the new building is being appealed to the Local Appeal Tribunal with a prehearing scheduled in August of this year.
First Canadian Place, on King Street in Toronto, constructed in 1976, remains Canada’s tallest structure to this day standing 298 metres high with 72 floors.