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Key Information

Prestige at Pinnacle One Yonge
Prestige in April 2025
Map
General information
StatusCompleted
Location28 Freeland Street
Toronto, Ontario, Canada
Coordinates43°38′37″N 79°22′27″W / 43.64361°N 79.37417°W / 43.64361; -79.37417
Construction started2018
Completed2022
Height216.2 m (709 ft)
Technical details
Floor count65
Design and construction
DeveloperPinnacle International

Pinnacle One Yonge is a mixed-use development currently under construction in Toronto, Ontario, Canada. It will consist of six skyscrapers ranging in height from 22 to 106 storeys tall.[4] The first tower – Prestige at 65 storeys – was completed in 2022. The second building, known as the SkyTower, will be Canada's tallest residential building.[5]

In November 2022, the developer (Pinnacle International) submitted an application to the City of Toronto to increase the height of the two tallest towers. The proposal was to add 10 storeys to the SkyTower, an increase from 95 to 105 storeys, increasing its height from 313 metres to 346.7 metres and making it the tallest building in Toronto, as well as potentially the tallest residential building in the world by floor count. The 80-storey third tower would see 12 storeys added, becoming 92 storeys tall. The total height would be increased from 264 metres to 307.7 metres. In November 2023, the city's Planning Department recommended the increases for approval by City Council.[6]

In March 2025, a proposal to increase the SkyTower's height to 351.85 metres and 106 floors was submitted.

References

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Pinnacle One Yonge

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from Grokipedia
Pinnacle One Yonge is a master-planned under construction at the foot of on Toronto's waterfront, comprising residential towers, hotel accommodations, office space, retail, and public amenities. Developed by Pinnacle International, the project spans multiple phases at 1 Yonge Street, with construction ongoing as of 2025 on key components including the 65-storey Prestige tower and the supertall SkyTower. The SkyTower, designed by Hariri Pontarini Architects, stands at 351 metres with 106 storeys following a 2025 variance approval, establishing it as Canada's tallest residential structure upon completion. The complex incorporates over 80,000 square feet of resident amenities, a city-managed community recreation centre featuring a six-lane pool and gymnasium, and direct links to Toronto's PATH underground network, enhancing urban connectivity.

Project Overview

Location and Site Context

Pinnacle One Yonge occupies the site at 1-7 in , , positioned at the intersection of and Lakeshore Boulevard East on the city's eastern waterfront, directly adjoining . The 10-acre parcel encompasses two full city blocks in the Harbourfront , formerly dominated by the Toronto Star's printing plant and headquarters building, which included printing presses operational until their relocation to in 1992. This positioning marks the terminus of , North America's longest street, integrating the development into Toronto's and waterfront edge, where industrial legacy sites have progressively shifted toward residential and mixed-use intensification. The site's historical role in production underscores its evolution from heavy industrial operations to a node for , aligning with the broader transformation of Toronto's port lands. Proximity to transit infrastructure enhances accessibility, with Union Station—a major hub for subways, GO trains, and —reachable via a roughly 10-minute walk, supplemented by nearby streetcar routes along Queens Quay. Site-specific improvements include widened sidewalks, pedestrian pathways, and public realm enhancements along Lakeshore Boulevard to bolster connectivity between the development and surrounding waterfront amenities.

Development Scope and Objectives

Pinnacle One Yonge constitutes a multi-phase, privately led master-planned community developed by Pinnacle International, encompassing multiple high-rise towers for residential, , retail, and uses, alongside the revitalization of an existing building formerly associated with the . The project integrates these elements to form a mixed-use precinct exceeding 6 million square feet in total accommodation space, including three stories of ground-level retail. The strategic objectives center on intensifying along Toronto's waterfront to foster urban vitality and accommodate ongoing population expansion, with designs that widen sidewalks, prioritize pedestrian access, and link directly to public transit systems. This densification approach emphasizes commercial feasibility through market-rate condominiums—projected to exceed 2,500 units—supplemented by totaling about one million square feet and limited components as required by local regulations, rather than extensive subsidized mandates. By bridging the to the emerging waterfront district, the development serves as a private-sector flagship for high-density expansion, delivering substantial residential and employment capacity amid Canada's acute supply constraints, without reliance on public funding for core viability.

History and Planning

Initial Conception and Approvals (2011–2018)

Pinnacle International initiated planning for the Pinnacle One Yonge development in , envisioning a multi-tower mixed-use complex at the foot of to address Toronto's accelerating urban expansion and housing pressures driven by population influx. The proposal responded to empirical trends, including the city's metropolitan population surpassing 5.5 million by and projections estimating growth to over 7 million by 2041, which underscored the need for vertical density to match transit-oriented infrastructure like the nearby Union Station and TTC network. In August 2012, Pinnacle acquired the 4.4-acre site from Corporation, encompassing the former Toronto Star printing plant and parking areas at 1 , for a reported $250 million, marking a pivotal step toward of underutilized waterfront land. Environmental site assessments followed, with Phase I evaluations and public consultations integrated into the Lower Yonge Precinct planning process by mid-2015, confirming the site's suitability for high-rise intensification while addressing potential contamination from prior industrial uses. Rezoning efforts encountered resistance from municipal zoning restrictions capping heights and densities, prompting appeals to the Municipal Board—later restructured as the Land Tribunal—amid debates over impacts versus growth imperatives. These proceedings highlighted causal frictions between private-sector proposals for efficient and regulatory constraints favoring incremental development, with hearings extending through 2015 and beyond. In July 2018, the Tribunal endorsed a settlement between Pinnacle and the City of Toronto, granting approvals for the initial phases including multiple towers up to 65 storeys, thereby clearing regulatory barriers after seven years of deliberation despite evidence of sustained demand evidenced by Toronto's 9.2% population increase from 2011 to 2016 and ongoing sales absorption rates exceeding 80% in downtown precincts.

Site Acquisition and Toronto Star Integration

Pinnacle International acquired the site at 1 , encompassing the legacy headquarters building constructed in —which had housed the newspaper's printing presses from opening until —for a reported $250 million in 2012, with formal ownership transfer on July 31 of that year. The purchase positioned Pinnacle as landlord to Corporation, the 's parent, which continued occupying the 25-storey structure as its operational base until vacating in 2022 amid broader industry shifts toward digital publishing and reduced demand for print facilities. Lease negotiations included provisions governing subtenancies, leading to litigation over profit-sharing obligations. In the ensuing dispute, a lower court initially ruled that owed Pinnacle net profits from a sublease—excluding adjustments for unusable space—but the Court of Appeal overturned this in October 2024, deeming the profit calculation method inconsistent with lease terms that prioritized base rent over ancillary gains. This resolution clarified ambiguities in the agreements but highlighted tensions in monetizing underutilized media assets during Pinnacle's ownership transition. Initial redevelopment concepts for Phases 4 and 5 of Pinnacle One Yonge envisioned re-cladding the building for integration into a South Block podium with retail uses and two new office towers of 22 and 40 storeys, adapting the structure while retaining its envelope for mixed-use functionality. By mid-2024, however, proposals shifted toward full to accommodate taller 90- and 95-storey residential towers on the site, reflecting evolving market priorities for density over partial preservation amid Torstar's exit and the site's underperformance as legacy . The pivot underscores how declining viability of print-era facilitated reallocation to higher-yield urban development, with sublease arrangements providing interim revenue streams during the handover.

Architecture and Design

Lead Architects and Design Philosophy

Hariri Pontarini Architects, a Toronto-based firm established in 1994 by Siamak Hariri and David Pontarini, serves as the lead architectural firm for Pinnacle One Yonge, chosen for their demonstrated proficiency in high-rise mixed-use developments along urban waterfronts. The project's design direction emerged from close collaboration between David Pontarini, a founding principal at the firm, and Michael De Cotiis, President and CEO of developer Pinnacle International, emphasizing practical integration of towering residential structures with ground-level amenities to support dense urban living. The core design philosophy prioritizes vertical density as a response to Toronto's accelerating , positioning the development as a model for self-contained vertical communities that consolidate residential, office, retail, and public spaces to minimize while maximizing land efficiency. This approach draws on empirical data rather than speculative ideals, incorporating practices tailored to local conditions like prevailing wind patterns and low seismic activity to ensure resilience without compromising habitability or market viability. Natural light optimization features prominently through elements such as glass-enclosed podium atriums, which facilitate internal gathering areas and enhance occupant in high-density settings. Distinguishing the project from conventional modernist high-rises, the philosophy integrates functional retail podiums and widened pathways to stimulate street-level economic activity and connectivity to transit networks, fostering verifiable user engagement over isolated vertical forms. This -prioritizing base counters notions of detached "soulless" towers by embedding layouts that empirically support interaction and waterfront revitalization, aligned with the firm's commitment to enduring, buildable architecture rather than theoretical experimentation.

Key Structural Elements and Towers

The flagship SkyTower stands at 106 storeys and 351.85 metres tall, establishing it as Canada's tallest upon completion and qualifying as a supertall structure exceeding . This height incorporates a minor variance approved in early 2025, which added one floor and elevated the design beyond initial parameters of around 95 to 105 storeys. The tower's primary structural system relies on for vertical, lateral load-bearing elements, and floor spans, augmented by components to manage the demands of extreme height and wind loads. Complementing the SkyTower, the project's southern block features redesigned towers proposed at 80 storeys (279 metres) and 85 storeys (296 metres), shifting from earlier low-rise office plans to mixed-use configurations amid post-pandemic demand adjustments. Northern phases prioritize residential towers like the SkyTower, contrasting with southern office-retail integration, to optimize site phasing while adhering to urban density constraints. Engineering solutions include comprehensive wind tunnel testing to evaluate aerodynamic interactions across the multi-tower complex, ensuring stability against Toronto's waterfront gusts and enabling practical supertall viability in a Canadian context where such scales test local seismic and material norms. This data-driven approach supports sway mitigation and load distribution without relying on unverified exotic features, prioritizing empirical validation for mixed-use longevity.

Construction and Timeline

Early Phases and Milestones (2019–2023)

Construction on the Phase 1 podium and foundational elements for tower commenced in early , following site excavation and demolition of existing structures in late 2018. This groundwork supported the 65-storey residential component atop a multi-level commercial base, marking the initial vertical development in the north block of the Pinnacle One Yonge site. Progress accelerated with the pouring of for substructures throughout 2019 and into 2020, enabling the assembly of the by mid-decade amid the onset of COVID-19-related interruptions that affected material deliveries across Toronto's sector. The developer, Pinnacle International, leveraged private contracting efficiencies to sustain momentum, completing tower in 2022 with 709 feet of height and integrated retail levels. The 2018 Ontario Land Tribunal settlement had cleared key hurdles, but municipal requirements for site variances—necessitated by zoning integrations with adjacent properties—necessitated phased adjustments that extended preparatory sequencing by up to two years beyond initial post-approval projections. By 2023, base preparations for adjacent phases stood ready, underscoring the project's resilience against regulatory layering despite broader market headwinds.

Recent Progress and SkyTower Development (2024–2025)

Construction on SkyTower, the flagship 106-storey residential tower at Pinnacle One Yonge, accelerated throughout 2024 and into 2025, with the structure surpassing initial supertall thresholds and approaching its final height of 351.85 metres following a minor variance approval in early 2025 that added one floor. By mid-2025, the tower had risen rapidly, demonstrating adaptive construction management amid urban density challenges. Projections indicate topping-out in early 2026, with initial occupancy targeted for late 2026, supported by on-site advancements verified during a Council on Tall Buildings and Urban Habitat (CTBUH) tour on October 14, 2025, which confirmed structural integrity and quality control measures. This progress counters prior delay concerns through evidenced scheduling adjustments, positioning SkyTower to become Canada's tallest building upon completion. Parallel developments included a redesign submission for the South Block (Phases 4 and 5) on October 21, 2025, replacing original lower office towers with two mixed-use high-rises: an 80-storey structure at approximately 279 metres and an 85-storey tower at 296 metres, integrating residential, commercial, and retail components to align with evolving market conditions. These revisions enhance the site's overall density while maintaining urban integration goals.

Features and Components

Residential and Hotel Accommodations

Pinnacle One Yonge's residential components feature multiple towers designed for luxury living, with unit configurations spanning studios, one- to three-bedroom suites, and penthouses equipped with high-end finishes. The development encompasses over 4,000 units across its phases, emphasizing market-driven that captures the full costs of premium waterfront construction and amenities, thereby adding substantial supply without the distortions introduced by subsidized models, which first-principles analysis indicates lead to inefficiencies like prolonged waitlists and suboptimal maintenance due to severed price signals. The 65-storey Prestige tower, completed in December 2022, houses 496 luxury residences ranging from 561 to 1,873 square feet, with pre-construction sales reflecting strong demand evidenced by units priced from $920,900 to $3,189,900 and rapid uptake attributed to unobstructed views and direct PATH system connectivity. The forthcoming 105-storey SkyTower will add approximately 958 units sized 780 to 1,720 square feet, priced starting at $1,230,900, further expanding capacity for high-occupancy residential use in Toronto's core. These Prestige-branded residences include exclusive amenities such as indoor and outdoor pools, rooftop terraces with areas, fitness centers, studios, party rooms, and children's play zones, tailored to affluent demographics prioritizing convenience and exclusivity. Complementing the condominiums, hotel accommodations are integrated into the SkyTower's lower levels, with the 250-room Pinnacle Toronto Hotel set to open in fall 2025, featuring a , fitness center, business facilities, and dining outlets to serve transient professionals and tourists. This hybrid model supports efficient by accommodating both permanent residents and short-term stays, fostering high utilization rates that align with causal dynamics of and demand without artificially lowering prices through mandates, which empirical observations in comparable subsidized projects reveal as prone to underutilization and fiscal strain.

Commercial, Retail, and Office Spaces

The commercial components of emphasize revenue generation through diversified non-residential uses, including approximately 160,000 square feet of retail space across podium levels designed to activate the ground plane and support pedestrian vitality at the Yonge Quay precinct. These retail areas, integrated with the re-cladded existing building, prioritize street-level accessibility to draw foot traffic from the high-volume corridor and adjacent waterfront paths, fostering mixed-use synergy that historically sustains developments in . Office spaces were initially planned for the South Block in phases 4 and 5 as two towers of 22 and 40 storeys, totaling 1.5 million square feet to accommodate professional tenants amid the site's proximity to financial districts. However, in October 2025, Pinnacle International proposed a redesign shifting to housing-led mixed-use towers of 80 and 85 storeys, incorporating 2,406 residential units over 220,333 square meters of amenities and reduced office allocation, directly responding to post-pandemic declines in demand evidenced by Toronto's office vacancy rates peaking above 16% before stabilizing at around 13% downtown in Q3 2025. This adjustment aims to mitigate vacancy risks observed in Toronto's commercial sector during economic downturns, where hybrid work trends have prolonged recovery, while preserving retail podiums for lease revenues from diverse, pedestrian-oriented tenants.

Controversies and Challenges

Construction Delays and Cost Issues

The SkyTower phase of the Pinnacle One Yonge development, initially projected for completion in fall , has faced delays pushing occupancy to late 2026. on this 106-storey supertall began in earnest in 2025 following prior setbacks in site preparation and approvals, extending the overall timeline from earlier phases that saw the adjacent Prestige tower complete in 2022. These slippages stem primarily from Toronto's regulatory processes, including a minor variance application filed in early 2025 to increase floor heights and add a , which required review amid ongoing zoning adjustments for the waterfront precinct. While specific cost overruns for Pinnacle One Yonge remain undisclosed, the project has navigated broader sector pressures such as post-pandemic supply chain variances and escalated material prices, which have strained high-rise builds across without evidence of developer mismanagement. Private financing by Pinnacle International has absorbed these impacts, avoiding public dependencies seen in other municipal projects. Regulatory hurdles, rather than internal factors, have been the dominant causal driver, as evidenced by repeated applications for height and design variances to align with evolving directives. Such timeline extensions highlight systemic permitting bottlenecks in , where protracted approvals exacerbate housing shortages by deferring thousands of units; industry analyses argue that expedited processes are essential to boost supply amid demand pressures, countering narratives framing large-scale developments as unchecked overreach. In Pinnacle International (One Yonge) Ltd. v. Corporation, 2024 ONCA 755, Pinnacle International sued for breach of a commercial lease agreement executed in 2005 for premises at , alleging failed to remit net profits from a sublease to a third party. The lease required to pay Pinnacle 50% of net profits after deducting certain costs, but disputes arose over allowable deductions, including subtenant rent payments and whether those qualified as "rent" under the Real Property Limitations Act, potentially barring claims older than two years. The Court of Appeal, in its October 2024 decision, overturned the motion judge's ruling in part, holding that subtenant payments did not constitute "rent" recoverable under the Act, thereby allowing Pinnacle to pursue claims beyond the limitations period based strictly on contractual obligations rather than statutory recovery mechanisms. This outcome prioritized the plain language of the lease terms, rejecting broader interpretations that would have shielded from liability for alleged profits accrued from 2013 onward. The litigation, initiated around 2020 and spanning multiple years through trial and appeal, highlighted ambiguities in lease drafting, such as undefined "net profit" calculations and the inclusion of open-air in leased , which exposed to claims for maintenance costs during subletting periods. The court's emphasis on extrinsic only where textual failed underscored the risks of imprecise commercial agreements in public-private land dealings, where empirical —rather than equitable narratives—dictated of property rights. Operationally, a leak in the community pool at the One Yonge Community Recreation Centre, integrated into the site's base as part of development agreements, led to its indefinite closure starting in early 2025, displacing public swim programs. Opened in November 2023 after Pinnacle fulfilled Section 37 commitments to provide public amenities, the pool's failure stemmed from structural issues, with Pinnacle attributing the problem to the City of Toronto's inadequate maintenance of municipal water lines beneath the facility, while the city countered that construction defects in the pool shell were responsible. By September 2025, repair costs exceeded $1 million, with no resolution, illustrating frictions in shared infrastructure where developer obligations under urban planning pacts clashed with municipal upkeep duties, often resolved through fault attribution grounded in engineering inspections rather than shared blame. Minor variance applications for site setbacks and height adjustments during phased approvals encountered neighbor objections citing shadow impacts and density, but municipal assessments confirmed negligible environmental effects, with approvals granted under the Planning Act after public consultations. These disputes, lacking escalation to , reflected standard processes where data-driven evaluations—such as solar studies showing under 5% additional shadowing on adjacent parks—prevailed over anecdotal concerns, reinforcing property development absent demonstrable harm.

Reception and Impact

Architectural and Urban Reception

The SkyTower at Pinnacle One Yonge, designed by Hariri Pontarini Architects, has been praised for advancing Toronto's skyline toward supertall status, with its 351-meter height and tapered, chamfered form enabling structural efficiency against wind loads while serving as a visual gateway to the revitalizing waterfront precinct. Pro-development commentators highlight its role in enhancing at a transit-adjacent site, where high-rise intensification aligns with studies indicating net benefits for energy efficiency through shared building envelopes and reduced per-capita infrastructure demands in vertically oriented neighborhoods. The design integrates public realm improvements, including widened sidewalks and connections to existing transit, positioning the complex as a catalyst for mixed-use vibrancy rather than isolated verticality. Criticisms, voiced in urban planning forums and municipal reviews, center on potential aesthetic uniformity in the glazed, modern typology, which some describe as a downgrade from earlier concepts due to perceived reliance on cost-effective materials over distinctive articulation. Shadow modeling for adjacent phases has raised concerns about impacts on nearby temporary open spaces, though city planning assessments for similar supertall proposals note that incremental shadows are mitigated by surrounding and do not significantly alter established access guidelines. Anti-density advocates have invoked "" in broader discourse, decrying skyline homogenization, yet these claims overlook site-specific transit capacity—served by TTC lines and GO expansions—that supports intensified use without proportional roadway strain. Initial 2017 Design Review Panel feedback on the unveiled towers emphasized street-level enhancements but flagged refinements, with itself not deemed contentious amid Toronto's evolving tall-building policy. By 2025, the phased redesigns, including taller iterations for phases 4 and 5 reaching 296 meters, have reignited debates on variances, with proponents arguing for adaptive zoning to accommodate waterfront evolution while skeptics question cumulative visual dominance; however, approvals reflect a consensus prioritizing density-enabled public benefits over static caps.

Economic and Developmental Contributions

The Pinnacle One Yonge project, developed by Pinnacle International without substantial public subsidies, channels private capital into high-density urban , demonstrating the efficacy of market mechanisms in driving development. Spanning multiple phases, it will deliver over 2,500 units, materially expanding Toronto's residential capacity in a locale proximate to major transit infrastructure. This influx of market-rate housing counters supply constraints exacerbating affordability pressures, as unrestricted units incentivize construction volume over regulated alternatives that historically correlate with diminished investment. Complementing residences, the complex incorporates one million square feet of and 80,000 square feet of retail and venues, catalyzing ancillary economic activity along the waterfront. Construction phases generate direct in skilled trades and , while completed components sustain ongoing jobs in , , and services. Comparable Toronto waterfront endeavors exhibit input-output multipliers exceeding unity, amplifying initial outlays through indirect supplier effects and induced household expenditures, thereby elevating regional GDP. Positioned at the Yonge-Queens Quay intersection with adjacency to Union Station, the development embodies transit-oriented density that curtails low-density peripheral expansion, aligning growth with existing infrastructure to minimize fiscal burdens on public transit and roadways. Assertions of exacerbating displacement via are empirically undermined by the net addition to housing stock, which dilutes per-unit and price rigidity per basic supply-demand dynamics. As a blueprint for streamlined private initiative, Pinnacle One Yonge highlights causal pathways from to accelerated urban , unencumbered by narratives overemphasizing externalities absent rigorous quantification.

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  68. https://www.linerra.com/ideas/challenges-and-benefits-of-hi-rise-architecture-in-toronto-and-beyond-linerra-architects
  69. https://canada.constructconnect.com/dcn/news/projects/2025/05/stacking-up-the-power-of-building-vertical-neighbourhoods-in-canada
  70. https://www.canadianarchitect.com/hariri-pontarini-unveil-design-toronto-star-lands/
  71. https://urbantoronto.ca/forum/threads/toronto-pinnacle-one-yonge-351-85m-106s-pinnacle-hariri-pontarini.17920/page-324
  72. https://urbantoronto.ca/forum/threads/toronto-pinnacle-one-yonge-south-block-296m-85s-pinnacle-hariri-pontarini.31311/page-15
  73. https://toronto.urbanize.city/post/new-heights-torontos-supertall-moment
  74. https://www.blogto.com/city/2017/10/pinnacle-one-yonge-tallest-condo-tower-toronto/
  75. https://toronto.urbanize.city/post/supertall-skyscrapers-transform-torontos-skyline
  76. https://portlandsto.ca/wp-content/uploads/26___economic_impacts_of_port_lands_development_urbanmetrics_1.pdf
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