Canada’s First 106-Storey Residential Tower Prepares for Occupancy This Fall
Pinnacle International has topped out construction on the 106-storey Pinnacle SkyTower in Toronto, now Canada’s tallest building and the first residential tower in North America to reach that height. Designed by Hariri Pontarini Architects at the foot of Yonge Street overlooking Lake Ontario, the building will house 958 condominium units with completion scheduled for this year. First residents will begin moving into floors up to the 56th level this fall, with the developer preparing to release the final block of units for sale.
The 12-sided tapered tower was originally planned at 95 storeys before receiving approval to add 11 additional floors. Pinnacle vice-president of sales and marketing Anson Kwok described the project as “well-sold” and said the company is now marketing units from the previously held-back upper floors. Despite Toronto’s current condo market slump, Pinnacle has not offered sales incentives, though pricing is less aggressive than earlier in the decade. The building will offer 80,000 square feet of amenities, heated underground parking, and a 24-hour concierge.
Pinnacle SkyTower anchors the broader 4.4-million-square-foot Pinnacle One Yonge mixed-use development, which includes the completed 65-storey Prestige tower and a 223-room Le Méridien hotel opening in the podium this fall. A top-floor restaurant is planned but details have not been released. The developer is converting the former Toronto Star office building on site into a 468-room hotel expected to take two years to complete, and has proposed a 92-storey, 847-unit residential building for launch when market conditions improve.
Vancouver-based Pinnacle has completed more than 15,000 residential units over four decades and has plans for another 15,000 across master-planned developments in Vancouver, Toronto, and San Diego. Kwok reported increased buyer registrations across all of the company’s projects. The first phase of Pinnacle Lakeside, a three-tower development with 1,200 units at 215 Lake Shore Boulevard East in Toronto, is scheduled for first occupancy next year. Additional projects include the Cypress at Pinnacle Etobicoke with seven more buildings planned, and Pinnacle Uptown in Mississauga, Ontario, where seven buildings are complete with three remaining.
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