Canada's 10 Tallest U/C

[WhipperSnapper]

The condo market is effectively dead for the first time in 30 years and the rental market is being held up by housing initiatives. The situation is not comparable to the numerous valleys during the boom that turned around into peaks with simple price reductions. This boom is over. Building to maximum densities is probably in the past given that every proposal is seemingly over 40 storeys in the vast downtown area and near transit stops.

I would not bet on a supertall with 1100 units to sell if this is released by 2028. They'll probably just sit on it past 2028 but, at some point, pressure to build or get out and write down the losses will mount.

[Gresto]

Originally Posted by travis3000

Based on the current Toronto residential condo picture... I would be shocked if the 2nd tower goes into sales any earlier than 2028. Which would mean a 2029 ground breaking and a 2034 completion date. This is your best case scenario.

Originally Posted by WhipperSnapper

The condo market is effectively dead for the first time in 30 years and the rental market is being held up by housing initiatives. The situation is not comparable to the numerous valleys during the boom that turned around into peaks with simple price reductions. This boom is over. Building to maximum densities is probably in the past given that every proposal is seemingly over 40 storeys in the vast downtown area and near transit stops.

I would not bet on a supertall with 1100 units to sell if this is released by 2028. They'll probably just sit on it past 2028 but, at some point, pressure to build or get out and write down the losses will mount.

Pretty bleak outlook.

[Maldive]

Pinnacle One Yonge | 351.85m | 106s | Pinnacle | Hariri Pontarini l u/c

Epic kotsy drone shot… where you can actually see the financial district towers, now largely hidden in many waterfront views.


kotsy

Edward Skira

[travis3000]

Originally Posted by WhipperSnapper

The condo market is effectively dead for the first time in 30 years and the rental market is being held up by housing initiatives. The situation is not comparable to the numerous valleys during the boom that turned around into peaks with simple price reductions. This boom is over. Building to maximum densities is probably in the past given that every proposal is seemingly over 40 storeys in the vast downtown area and near transit stops.

I would not bet on a supertall with 1100 units to sell if this is released by 2028. They'll probably just sit on it past 2028 but, at some point, pressure to build or get out and write down the losses will mount.

Another possibility is that they partner with a high end hotel to take 30-40 floors (this market is still healthy). My bet is that this tower gets built.

[Maldive]

CIBC SQUARE | 241.39m | 50s | Hines | WilkinsonEyre l Phase 2 u/c

Phase 1 and 2 right of centre, SkyTower dominating left of centre.


skycandy

skycandy

The diamond light magic of CIBC Square’s 2 phases.


skycandy

[TorontoDrew]

Pretty awesome Drone video of The One. It actually gave me a bit of vertigo when it pans down to the intersection of Y & B.

Anyone else having issues sharing vids here?

▶ VIDEO: Construction progress update (December 2025)
https://www.youtube.com/watch?v=eMVHgRAAirM

[WhipperSnapper]

Originally Posted by travis3000

Another possibility is that they partner with a high end hotel to take 30-40 floors (this market is still healthy). My bet is that this tower gets built.

Only if the bulk of the floors are serviced apartments which I don't know would sell right now. 100 to 150 hotel suites is the goldilocks zone and only need approximately 10 floors. 400 plus hotel suites is massive.

[travis3000]

https://youtu.be/Fo-mPipO4Tw?si=CnO9s6Cf24Vuwa4-

This should end the nonsense discussions how the second tower will never be built. It's coming. Just a few years behind schedule. These towers will be architectural masterpieces, the final project by a world famous artist who is now deceased. The second tower is his last vision and will be his tallest building ever. Buyers will see value in that, and I imagine they won't have a problem selling it to a higher end cliental. Worst case, they can always allocate 20 floors of the building to a hotel and do residential for the other part.

I think the standard goldilocks 100-150 hotel suites would be too small for a marvel like this. You would be staying in the last and tallest project designed by a now dead world famous Toronto architect. This isn't a normal project. There would be a business model for a 300+ room hotel here.

[Maldive]

Pinnacle One Yonge | 351.85m | 106s | Pinnacle | Hariri Pontarini l SkyTower u/c

Happy 2026!


mburrrrr

skycandy

Great set from @Marcanadian:


Marcanadian

Marcanadian

Marcanadian

Marcanadian

Marcanadian

[TorontoDrew]

Nice set, how many floors to go now?

[koops65]

2 I think... maybe 3.

[rdaner]

By me:

https://www.instagram.com/reel/DTMK5...t5eWVhdDBwbA==

[TorontoDrew]

Nice vid rdaner, Forma is moving a lot faster than I thought it would. The renders did no justice to how it's turning out.


source: https://urbantoronto.ca/database/projects/forma.6448

[TorontoDrew]

source: urbantoronto.ca

[caltrane74]

Toronto trying to get into the big leagues.

[travis3000]

And its worth noting that Great Gulf has confirmed they WILL be building Forma's larger 2nd tower. It's just on hold right not until the condo market starts to show a little life.

[craner]

^Still always concerns me when projects go on hold.
But perhaps that’s just me being a child of the early ‘80s boom in Calgary with the accompanying scars of all the great buildings that were put “on hold” that never got built.
Sure hope that’s not the case for Forma II.

[WhipperSnapper]

Why wouldn't Great Gulf build if the market gets hot and they can sell out for a profit? What if that doesn't happen in the next 5 to 10 years?

[Nite]

Originally Posted by travis3000

And its worth noting that Great Gulf has confirmed they WILL be building Forma's larger 2nd tower. It's just on hold right not until the condo market starts to show a little life.

They say that for all projects that go on-hold. but some never come back because conditions don't chance in the way they want. or the project has to be scaled down.
Personally i believe something will get built at this location. A scaled down building using cheaper materials however.

[Nouvellecosse]

That's unfortunate although the smaller building currently u/c will still be very large.