OntarioCanada CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Toronto City Council Approves 18 Multi-Res Projects
Toronto city council has approved a redevelopment project that will convert a nine-storey downtown Toronto office building into a 52-storey mixed-use tower.
Urban Toronto reported that the project was among 18 multi-family projects that city councillors endorsed recently.
As Connect previously reported, Capital Developments and Industrial Alliance Insurance and Financial Services are spearheading the office-to-residential redevelopment located at 111 Peter Street, with WZMH Architects serving as the project’s designer. City council approved a development application for the reimagined structure filed by WZMH on behalf of the project leaders.
Plans call for 852 residential units, of which 828 would be condominium suites and 24 will comprise affordable rental housing. The revamped building, originally constructed as a data centre, is also slated to feature about 15,930 square feet of retail space at ground level.
The 18 newly approved projects are slated to comprise 10,261 units altogether, according to Urban Toronto.
The other approvals include Oxford Properties’ conversion of one previously planned downtown office tower into multi-residential towers standing 61 and 71 storeys. The Union Park project is located across the Union Station rail corridor from the Rogers Centre, formerly known as SkyDome.
Other projects include a 64-storey tower at 522 University Avenue, which is also being designed by WZMH and developed by Industrial Alliance; the Reside in Richmond 33-storey building led by Originate Developments and Harlo Capital; and the first phase of the Benvenuto Group’s 60-storey building in Midtown.
Pictured: Office building at 111 Peter Street in downtown Toronto slated for conversion into a 52-storey multi-residential tower.
Rendering: WZMH Architects/Industrial Alliance Insurance and Financial Services
Connect Canada on May 28 | Join Canada’s leading CRE owners, investors, developers, brokers, financiers, and more at Connect Canada on May 28th at Malaparte in Toronto. Register now to catch forecasts from Canadian CRE leaders on market challenges and opportunities, insights into international investing with evolving market dynamics, the outlook for multifamily housing, and much more. www.ConnectCanada2025.com | May 28, 2025 | Toronto.
