In late September, Kingsett Capital submitted a new development application for 475 Yonge Street, replacing the Courtyard Marriot Hotel, between Wood and Alexander Streets, with two towers of 78 and 75 storeys.
Kingsett first acquired the property in 2015. In 2017 a settlement agreement was reached with the City in which Kingsett was approved to build two towers of 58 and 48 storeys on the site.
If built as proposed the towers would be the seventh and tenth tallest buildings in Toronto -- looming over City Park Co-op and adding significant shadow as far west as Queen's Park Crescent; as far north as Wellesley Street; and as far east as Mutual Street.
Kingsett Capital is a multi-billion dollar private equity real estate investment firm with a portfolio that includes much of downtown Yonge Street. The corporation has also assembled lands at the northeast corner of Church and Wellesley; and the northeast corner of Church and Maitland (see map).
The decision to apply for 20 storeys more than was approved in 2017 is likely related to nearby approvals and applications for other very tall buildings on Yonge Street, including a 73 storey building immediately to the south, between Carlton and Wood, that was approved through a settlement agreement in April of this year.
The application, including architectural plans and the shadow study can be found online at the City's Development Application Centre.
A community consultation meeting date has not yet been announced, but you can make written comments now and request to be notified of the community consultation by following the Public Consultation link on the proposal's Development Application Centre page.
Video by Koops65 shows aerial view of the proposed 78 and 75 storey towers. The approved 73 storey tower at 2 Carlton is to the south; the recently completed tower to the north is 52 storeys.