One of downtown Toronto's hotels could soon be on the way out, with redevelopment in the works for a notable property at the edge of the city's bustling Financial District.

Details have emerged of a proposal to transform the existing Cambridge Suites Hotel into a soaring 71-storey skyscraper that, if built today, would be among the tallest buildings standing in Toronto.

No formal app yet, but rumblings that the 21 storey Cambridge Suites Hotel at Richmond & Victoria will be redeveloped. Currently forecasted at 71 storeys, 560 units with @WZMHarchitects at the helm. Existing hotel will be stripped back, reinforced, & 50 res. storeys added on top. pic.twitter.com/kX0cWDNCjF

— Urban Cayman (@ProjectEND) October 18, 2022

Designed by WZMH Architects for Centennial Hotels Limited, the plan would not result in the demolition of the existing hotel tower, though its 1990s Postmodern-style aesthetic would be erased by a more contemporary look.

The existing building would remain as a new tower base through a comprehensive adaptive reuse plan, starting with the removal of the tower's existing pitched roof, followed by the addition of two mechanical floors above the existing 21-storey building.

These intermediate floors would act as a sort of structural bridge to support the added structural load of the 48 new residential floors that would be plopped atop the tower, extending it to a soaring height of just over 230 metres.

But while the hotel structure would remain, it appears that the building's hospitality uses would cease for good to accommodate the redevelopment.

All interiors of the current building would be renovated and transformed into a portion of the tower's planned 565 condominium suites.

Taking advantage of recent reductions in mandatory parking minimums and the various transit options available nearby, only 21 parking spaces are planned to serve the entire tower, along with 570 bicycle spaces, exceeding a 1:1 unit-to-bike ratio.

The practice of building huge additions over existing Toronto office towers has grown in popularity in recent years. The wave arguably began in 488 University Avenue a few years earlier, where engineers constructed an exoskeleton and tabletop support system for 37 new condominium levels above.

Since that project completed construction, similar proposals have since joined the discussion, including a project planning to add 33 new levels atop an office tower at 200 University Avenue.