Toronto just approved a new 91-storey megatower

Toronto's real estate market may still be in shambles, but developers are surprisingly bullish about massive residential builds — one example being a huge 91-storey condo tower that was just greenlit at City Council.

City Council voted last week to adopt the plan from B.C.-based developer Goband Investment and local design firm SvN that would bring one of the city's tallest buildings to a block spanning 17-25 Toronto St. and 55-57 Adelaide St. E.

Council voted 22-3 in favour of the plan, which has generated controversy among locals due to concerns over shadowing. All three of the city councillors who opposed the project represent suburban wards with no apparent connection to the proposal or its location.

The enormous building would rise from a site occupied by a group of heritage buildings. Four of the five buildings currently on site are on the City of Toronto's Heritage Register, including heritage-designated buildings at the York County Courthouse (57 Adelaide St. E.) and the Consumer Gas Building (17-19 Toronto St.).

Heritage buildings are planned to be integrated into the tower base, largely maintaining the current historic streetscape.

At just shy of 300 metres in height, the tower would rank among the tallest buildings on the Toronto skyline, and would stand just short of the two new tallest in town, SkyTower and One Bloor West. The height is a significant leap over a previous 80-storey version of the plan.

While the building would fail to crack the record books, its position a few blocks east of the Financial District would make it among the most prominent fixtures on the skyline, extending the city's most concentrated height peak past Victoria Street. 

The most recent planning documents, filed in March, specify condominium tenure for the 840 residences planned within the tower. However, given the current state of Toronto's condominium market, it's anyone's guess how the developer plans to offload these units, or whether a switch to rental tenure is in the cards.

Along with the residential component, the plan calls for over 4,000 square metres of office space, in addition to more than 3,500 square metres of retail.

Among some of the building's standout features, an amenity level on the 32nd floor would offer views in all directions, while an additional 82nd-floor amenity space would give residents of all levels access to the impressive city views typically reserved for the top-priced units on the upper floors.