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Ontario  + Canada + Cross Border News  + Hospitality  |  February 12, 2024
Freed Developments plans to develop an $800-million luxury hotel and residences project in downtown Toronto.
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By: Monte Stewart

Freed Plans $800M Toronto Hotel-Residences Project

Freed Developments has announced plans to develop an $800-million luxury hotel and residences project in downtown Toronto.

The development is to be located at Adelaide and Duncan streets, just west of University Avenue.

If all goes according to plan, the project will stand more than 60 storeys and feature 100 five-star hotel rooms, 400 condominiums, a 63rd-floor “skybar” and restaurant, a boutique spa and a 10,000-square-foot Katsuya eatery on the second floor.

The Katsuya location will be the chain’s first in Canada and 12th globally. Katsuya is operated by SBE. Other Katsuya markets include Dubai, Miami, Los Angeles, New York and the Bahamas.

Toronto-based Freed is headed by founder and CEO Peter Freed. The company focuses on resort, residential and commercial property developments.

Chicago-based Adrian Smith and Gordon Gill Architecture (AS+GG) will design the structure, which will have diamond-shaped components. The firm specializes in tall buildings.

Toronto-based DesignAgency is leading the interior-design effort.

Photo: CNW Group/Freed Developments

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Inside The Story

Peter FreedFreed Developments

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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