In the quest to build the tallest skyscraper in Canada, developer appears to be inching ahead, with a new proposal that would see the second tower at the foot of Yonge Street reach over 100 storeys.
Pinnacle submitted an application late last month with the city, seeking to allow 12- and 10-storey increases to the already approved 80- and 95-storey towers in its development at the site of the current 海角社区官网Star building.
If approved, it would take the second, .
at , where developers have applied to go to 94 storeys and about 338 metres, was previously on track to become the tallest building, as it would be technically higher than the original plan for 1 Yonge St.
鈥淚t鈥檚 definitely a bit of a skyscraper race, to see who can hold that title as the tallest building in Canada,鈥 said Stephen Velasco, the founder of Future Model Toronto, a platform that models development and construction in the city.
鈥淚t would be the first building in Canada that would exceed 100 storeys in height,鈥 he said. 鈥淭he roof of the building actually is level with the main observation deck of the CN Tower, so it would not only have an impact from the skyline but also from that iconic deck view.鈥
The current tallest building in 海角社区官网is First Canadian Place (72 storeys) at Bay and King Streets, said Velasco.
The CN Tower doesn鈥檛 technically count as a building, he added. , to be considered a building at least half of its height must be occupiable. Telecommunications or observation towers don鈥檛 make the cut.
Pinnacle vice president of sales and marketing Anson Kwok said the skyscraper war is not what鈥檚 motivating the company. The decision to reach even higher was an internal one, considering what would be best for the city and the location. It wanted to add 鈥渟ome more intrigue鈥 to the skyline, he said, calling the tower 鈥渁 piece of artwork for the city.鈥
Of course, having bragging rights as 鈥渢he tallest building in Canada鈥 can鈥檛 hurt a project鈥檚 sales pitch, especially at a time when mortgage rates are soaring and cracks appear to be forming in Toronto鈥檚 once unstoppable condo market.
There are still some units available for sale and prices at Pinnacle One Yonge range from around $900,000 to $3 million, Kwok said. The completed development will include a community centre with a pool and basketball court that will be operated by the city, he added.
鈥淭oronto鈥檚 a world class city, so I think in the last 10 years, 40 storeys were pretty common, then you get to 60. To get to that next echelon of city, in terms of New York or Chicago, I think architectural interest is greatly important,鈥 said Kwok.
鈥淪uper tall鈥 residential skyscrapers have gone up in other cities around the world, said Velasco. But 鈥渢hey鈥檙e quite a new phenomenon at least for Toronto. We are seeing more residential builds approaching that height, but we don鈥檛 have any at this point that exceed 300 m or 1,000 ft. in height, which is the formal classification for super tall,鈥 he said.
Once completed, the luxury tower, The One, at 1 Bloor Street West, by Mizrahi Developments would also qualify as 鈥渟uper tall.鈥
President Sam Mizrahi confirmed in an email that in early 2021 his company additional height that would take its tower from the approved 85 storeys to 94-storeys, about 338 metres.
In general, buildings that tall can come with long potential waits for elevators, with the stairs just not being an option for most residents, and upper floors can sway in the wind, Velasco said.
But they come with prestige, and of course, a view.
鈥淥bviously that can change with the rate of development in the city, it鈥檚 not uncommon that your view gets obstructed by another tower,鈥 added Velasco.
鈥淏ut at least on the upper floors, it鈥檚 quite likely that residents will have unobstructed views for quite some time.鈥
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