Toronto's 106-storey Pinnacle SkyTower is about to become one of the most exclusive addresses in North America. And with construction having topped out, its developer is preparing to release the final block of condominiums for sale.

The Pinnacle International super-tall tower is now the tallest building in Canada, and the first residential building in North America to hit 106 storeys. 

Designed by Hariri Pontarini Architects and located at the foot of Yonge Street overlooking Lake Ontario, it's scheduled to be completed this year. The first residents are to move in, up to the 56th floor, this fall.

Pinnacle SkyTower will house 958 units and its highest floor is in line with the CN Tower’s main observation level. The 12-sided building, which features a tapered design, was originally intended to be 95 storeys before receiving permission to go taller.

Selling condos from the top floors

Pinnacle vice-president of sales and marketing Anson Kwok didn’t provide a number when asked how many units have been purchased but told RENX it's “well-sold.” The company is about to go to market with units from the additional floors that were previously held back.

“It's very positive and I'm working with a bunch of clients who are looking at combining units and getting 2,500 to 5,000 square feet of space,” Kwok said. “It's been really enjoyable to work through those types of custom units with them because I think people see it as unique real estate in Toronto.”

Despite the city’s condo slump, Kwok said Pinnacle hasn’t come out with any sales incentives. However, the sales team isn’t being as aggressive with pricing as it would have been when the market was much more vibrant earlier in the decade.

Pinnacle SkyTower will offer heated underground parking and 80,000 square feet of amenities. In addition to a 24-hour concierge, it will also offer:

• an outdoor terrace with dining, lounge and barbecue areas;
• an outdoor swimming pool and a hot tub;
• a party room with a kitchen;
• a games room;
• a gym and yoga studio;
• an indoor children’s play area;
• a dog-washing area; and
• a guest suite for overnight visitors.

Pinnacle SkyTower’s hotel and restaurant

Pinnacle SkyTower will also include the 223-room Le Méridien Toronto Pinnacle Hotel in its podium. It will open this fall.

“It’s the first of three Méridiens we're opening in the next year or so: here; in Richmond, B.C.; and in San Diego, California,” said the Toronto-based Kwok, who comes from a hotel background. “We also currently have four hotels that we run in B.C.”  

Pinnacle SkyTower residents will have access to housekeeping services, in-room dining and other perks provided by the hotel, according to Kwok.

There will also be a restaurant on Pinnacle SkyTower's top floor, though details have yet to be released.

Pinnacle One Yonge

Pinnacle SkyTower is a key part of the broader Pinnacle One Yonge site. The 4.4-million-square-foot, master-planned mixed-use development will offer residential, retail, hotel and outdoor space.

The location offers convenient access to the waterfront, Harbourfront Centre, Union Station, public transit, the financial and entertainment districts, Scotiabank Arena, Rogers Centre, Metro Toronto Convention Centre, Ripley's Aquarium of Canada, CN Tower, St. Lawrence Market, retail, restaurants and more.

The neighbouring 65-storey, 496-unit The Prestige at Pinnacle One Yonge is completed and occupied. It has a 50,000-square-foot City of Toronto-run community centre with a swimming pool, gyms, fitness/dance studios, a kitchen and multi-purpose rooms in its podium.

The Toronto Star’s 55-year-old, 25-storey former office building on the site was originally going to be demolished but Pinnacle has decided to convert it to a 468-room hotel that will include 160 extended stay suites, a ballroom, a restaurant and bar, meeting rooms and more. It’s anticipated to take about two years to complete.

Street and sidewalk work and other ground-level enhancements are underway to open up the site and should be finished in 2027. 

Pinnacle has proposed a 92-storey, 847-unit multiresidential building for the site’s north parcel and Kwok expects it will be launched once market conditions improve.

Other Toronto area development activity by Pinnacle

Vancouver-headquartered Pinnacle has been involved in development, design, construction and management for more than four decades and has built condos, hotels and commercial space. Its portfolio includes locations in and around Vancouver, Toronto and San Diego.

Pinnacle has completed more than 15,000 residences over the past 40-plus years and has development plans for an additional 15,000 suites in various master-planned, mixed-use locations throughout North America.

“We've definitely noticed a lot more registrations at pretty much all of our projects,” Kwok said. “It’s been exciting to interact with a lot more purchasers who know what they're looking for.”

The first phase of Pinnacle Lakeside, a three-tower Hariri Pontarini-designed condo with podiums that will offer about 1,200 residential units and retail at grade has been under construction for two years at 215 Lake Shore Blvd. E. in Toronto. First occupancy should take place next year.

Pinnacle is working through the application process with the City of Toronto for the site’s second phase.

The 25-storey, 274-unit Cypress at Pinnacle Etobicoke was completed a year ago but there are seven more multiresidential buildings to come at the master-planned community just west of the Kipling transit hub on Dundas Street West.

Pinnacle Uptown is a 36-acre master-planned community just northwest of Hurontario Street and Eglinton Avenue West in Mississauga.

“We're seven buildings in and we have three more to go on the last phase,” Kwok said. “It’s definitely been exciting to transform that community since 2012.”