Enormous tower could soon rise high above lively Toronto pub

Plans to build a towering new landmark next to a lively Toronto pub, brewing behind the scenes since 2023, could soon become a reality.

Developer Elysium has filed an application with the city to redevelop a site just west of Sherbourne St., spanning 164 through 168 Isabella St., currently home to a group of heritage homes dating back to the late 1800s, and right next door to Gabby's Isabella Hotel location.

Elysium purchased the buildings in mid-2023 and has since embarked on a plan to incorporate them into the base of an enormous 69-storey rental tower featuring an impressive design from architects Studio JCI.

The project team announced its intention to redevelop the site last year, noting that the new tower planned for the property would preserve the existing heritage-listed 1887-1888-built John Holderness House (164 Isabella) and Henry J. Larkin House (166 Isabella), as well as the heritage-designated J. Bedford House at 168 Isabella, also constructed in 1887.

Elysium, in partnership with International Property Group Inc., announced on Thursday that it had submitted applications with the City of Toronto seeking to gain zoning and changes to the City's Official Plan that would permit construction of the new tower.

The plan has changed to some degree from the information shared during the pre-application stages last year, increasing from 67 to 69 storeys while dropping from roughly 700 rental units to 660.

With a height of 225 metres, the tower would rank as Toronto's 15th-tallest if completed today. However, thanks to the numerous sky-scraping projects now in development, it would be lucky to make the top 20 by the time approval is granted and construction wraps up.

Much of the justification behind this height stems from the site's inclusion within two Protected Major Transit Station Areas (MTSAs), just steps away from Sherbourne Station on the TTC's Line 2-Bloor Danforth.

And, while frequent cancellations are casting doubt on the future of residential condominium projects, the intent to proceed with rentals for this tower means there's a good chance you could be seeing 164-168 Isabella St. join the skyline relatively soon.

"This project represents the best of what purpose-built rental can achieve in Toronto's downtown; transit access, sustainable design, heritage conservation, and much-needed housing supply," said Sayf Hassan, CEO of Elysium.