Enormous 106-storey megatower is taking over Toronto's skyline

Toronto will break the record for Canada's tallest building twice in the coming months, though, of these contenders, it will be a megalithic 106-storey behemoth at the foot of Yonge Street that will likely retain this title for years to come.

Anyone who has simply stepped outside in downtown Toronto has likely seen the growing project at Yonge and Queen's Quay known simply as SkyTower — the jewel in the crown of Pinnacle International's ambitious One Yonge complex.

The project is now racing skyward ahead of some monumental milestones in the coming months, but it took a considerable amount of money, planning and time to reach the skyline transformation unfolding today.

The Vancouver-based developer scooped up what was then the Toronto Star's headquarters at 1 Yonge Street in 2012 for a reported quarter-billion-dollar sum, and kicked off the redevelopment process with a 65-storey first phase tower, known as The Prestige, built from 2018 to 2023. 

Work on the second-phase condo tower, which Pinnacle has dubbed the "SkyTower" is now well underway and quickly rising toward a record-breaking height of over 345 metres — taller than any building (excluding telecommunications structures and masts) in Canada.

That well exceeds the height of the current record-holder, First Canadian Place in Toronto's Financial District, which stands at 298 metres. It is also a fair bit taller than the almost 309-metre height of the One Bloor West complex underway a few kilometres to the north, which will briefly claim the title of Canada's tallest before SkyTower overtakes it.

Currently standing approximately 75 storeys above the foot of Yonge Street, the SkyTower project is mere months from claiming this record. 

However, it's not the only record that will be broken here.

Following multiple approved height increases, the current design has grown from an initial 95-storey proposal to the 106-storey tower now under construction — soon to become Canada's first building to exceed the 100-floor count.

Once the tower tops out, its crown will sit roughly eye-level with the CN Tower's main observation pod. Between its immense height and highly visible position along the waterfront, the new addition to the skyline is already claiming its place as the city's second-most-dominant landmark.

The steadily ascending tower now completely dominates its surroundings, making the soon-to-be demolished former Toronto Star building at 1 Yonge Street, once a defining feature of the skyline in views from the harbour and islands, look like a mere stub in comparison.

While the majority of the tower's floor space will be allocated to condominiums and associated space, the building will also be welcoming a key tenant with Marriott International's Le Meridien to set up shop in its base, marking the brand's first location in Canada for over 30 years.  

The hotel was announced to open within the project in fall 2025, though that timeline may be difficult to accomplish given the current state of construction.

There have been cases where businesses have opened at the base of developments as construction continues above, with one notable example being Aura at College Park, where a large steel canopy was added above the pedestrian zone below the active construction project.