Enormous 85-storey Toronto mega-tower announces yet another delay

One of the tallest buildings under construction in the country might take a little longer than expected to cross the finish line, as developer Concord Adex has revealed that its hotly anticipated Concord Sky project in Toronto is facing labour-related delays.

And, it's just the latest in a series of delays and hurdles affecting both the current build and an earlier proposal for the site at the southeast corner of Yonge and Gerrard.

Last week, Concord Adex informed purchasers in the 85-storey tower that they would have to wait up to three months longer than anticipated for their new condominium units.

The developer sent out a letter to purchasers on May 16 titled "First Notice of Unavoidable Delay," notifying investors in the building that the completion timeline has been pushed back due to a strike that will impact work at the 383 Yonge Street site.

"We are writing to advise you that an event of Unavoidable Delay has occurred that may impact the Occupancy Date of your Unit and other Critical Dates," reads the letter.

"On May 13, 2025, United Association Local 46 Toronto (Plumbers, Steamfitters and Welders) announced that their members were going on strike. It is anticipated that this strike may delay completion of critical plumbing infrastructure for your Unit and/or the Building. This strike may also negatively impact the completion schedules of other trades and suppliers."

Concord Adex told residents that "at this stage, it is difficult to predict the length of the strike, the impact on other trades/suppliers and/or the length of the remobilization period."

However, the developer offered up a ballpark estimate, saying that "given the information available to us at this time, our best estimate for the length of delay is 0 to 90 days."

Concord Adex has pledged to provide owners with a second notice "as soon as we can accurately determine the extent of the delay."

It's another speed bump in a long series of challenges for the project.

First proposed in 2017, the 98-storey condo plan known as YSL (Yonge Street Living) Residences would begin construction in 2019 before everything went off the rails for the previous developer at the helm of the ambitious build.

Trouble was clearly brewing amid rumours that YSL's developer, Cresord, was facing a "cash crisis." YSL and other Cresford properties were later placed into receivership, and construction on the project was halted following excavation of the site's underground levels.

Veteran developer Concord Adex would later purchase the project and introduce cost-cutting changes, rebranding the building as Concord Sky in 2021. 

Construction began months later in early 2022, but would hit another snag with a mid-2023 City-ordered work stoppage, though work quickly resumed after the issue was cleared.

After about three years of resumed construction, the tower is now beginning to climb into the skyline and is expected to welcome its first residents in 2027.