Freed Developments has unveiled its plans for a glass-cladded $800-million, 63-storey skyscraper in downtown Toronto to be known as the Freed Hotel and Residences.
To be located at Adelaide and Duncan streets, just west of University, the tower will bring both a Katsuya Restaurant by Sam Nazarian's Disruptive Group by sbe, and artwork by renowned Japanese artist Takashi Murakami to Toronto.
Designed by Chicago-based tall building experts Adrian Smith + Gordon Gill Architecture, the distinctive project is to feature 100 five-star luxury hotel rooms and 400 luxury condominiums, with a Skybar/restaurant on the 63rd floor, boutique spa, and the 10,000-square-foot Katsuya Restaurant on the second floor.
"Freed is a true thought-leader that has transformed lifestyle residential condo living in Toronto over the past number of decades and this project will be like living in a piece of modern art,” Freed president Corey Shepherd said in the announcement Monday morning.
The Freed Hotel and Residences is scheduled to begin sales in March and potential buyers can expect a wide selection of units ranging from 270 to over 9,800 square feet.
Pricing details have not been released.
Features of the Freed Hotel and Residences
The restaurant will be the first sbe Katsuya in Canada and the 12th globally, and is expected to launch in fall 2028.
This announcement follows Nazarian's 2020 sale of the hospitality brand and management platform which included over 100 hotels (SLS, Delano, Mondrian and Hyde, among others), more than 150 restaurants and lounges, and over $4 billion of luxury residential sales.
"Katsuya is going to be a destination for locals, hotel guests and residents alike, and we cannot wait to share Chef Katsuya's contemporary Japanese culinary experience with the discerning people of Toronto," Nazarian said in the announcement Monday morning.
The tower will feature:
- Katsuya, a contemporary Japanese restaurant on the second floor.
- Takashi Murakami Art Integration: Murakami’s Together with the flower parent and child will be featured inside the building lobby.
- Amenities include: 62nd-floor Sky Lobby with a “grand staircase,” leading to the 63rd-floor restaurant and bar which is to feature a 70-foot-tall space below a sloping skylight; as well as a boutique spa, terrace and outdoor garden, private spaces for entertaining and dining, fitness and yoga studio, private theatre room, valet parking and full-service concierge, and more.
Freed Developments has over 30 years of experience in the Greater Toronto Area, with over $10 billion of developed projects completed.
Freed's portfolio includes modern condominium projects, F&B ventures, resort communities and commercial spaces, led by the founder and CEO Peter Freed.
Freed’s development portfolio includes the Art Shoppe Lofts and Condos in collaboration with Karl Lagerfeld, Seventy5 Portland with globally renowned designer Philippe Starck, Fashion House on King Street West and the iconic Thompson Hotel.
In addition, Freed Hotel & Resorts bills itself as the largest owner and operator of hotel and resort communities in Canada, including Ontario properties at Muskoka Bay Resort, Deerhurst Resort, Horseshoe Resort and Blue Mountain Resort.
The firm is planning to announce details soon about Freed at Blue Mountain, which is to be developed at The Village at Blue Mountain
The Freed Hotel and Residences is scheduled to begin sales in March 2024.