2346 yonge street toronto

Yet another enormous tower was just proposed for a condo-packed area of Toronto

Toronto's midtown area has experienced a surge in density in recent years in anticipation of the new Crosstown LRT, and yet another huge tower has just been pitched for a stretch of Yonge Street where practically every single property is now in play with major proposals in the works.

A May proposal from developer Diamond Corp seeks to bring a 56-storey condominium tower to 2346 Yonge Street, a tiny site one block north of Eglinton home to a two-storey RBC bank branch — and mere feet from another high-rise proposal.

2346 yonge street toronto

The developer has put forth an ambitious plan that would see the existing bank branch demolished and replaced by a CGL Architects-designed tower soaring to a height of approximately 186 metres.

A total of 407 condominium units are proposed within the new complex, along with over 272 square metres of new retail space on the ground floor fronting onto Yonge Street and wrapping around the Orchard View Boulevard frontage to the west.

2346 yonge street toronto

As of 2024, only two taller skyscrapers exist near Yonge and Eglinton — 58-storey condo towers at 8 Eglinton East and 2221 Yonge Street.

2346 yonge street toronto

The immediate surroundings are also awaiting redevelopment with towers in this height range, including a similarly-sized development in the works for a narrow abutting property to the north.

2346 yonge street toronto

Rendering of 2346 Yonge Street with adjacent proposal included.

Due to the planned tower just next door, the proposal's units are all oriented to face south, east, and west, with services like elevator cores and hallways concentrated along the north side of the tower.

Documents filed in May reveal that, while the planned tower next door currently includes windows on its south side abutting the new proposal, developers expect the final plan for the neighbouring property to be similarly designed, lacking south-facing windows.

This would potentially allow both projects to navigate around the City of Toronto's minimums for tower separation, a policy intended to ensure privacy and sunlight for high-rise residents.

Photos by

CGL Architects


Latest Videos



Latest Videos


Join the conversation Load comments

Latest in Real Estate

You can buy an entire 18-unit Toronto apartment building for $7M right now

This $15M ultra-modern Toronto home was designed to maximize views of the lake

Toronto apartment sold at significant loss shows just how turbulent market is

City of Toronto aims to expropriate block of storefronts for transit project

Ontario landlord slammed for renting out dingy shack with no door for $1,350 a month

Mississauga condo sold at massive loss shows just how much prices fluctuate

Massive skyscraper just approved for Toronto will be one of the city's tallest

You could live in this 19th-century Ontario schoolhouse for $3M