December 19, 2024 | Real Estate
One of Toronto’s most iconic office buildings is preparing to say goodbye to the city skyline. After standing tall for 53 years, the Toronto Star Building—a familiar fixture at the foot of Yonge Street—is now on the path to demolition.
The sprawling One Yonge site, including the Toronto Star Building, an office tower, and surrounding parking, was purchased by Vancouver-based developer Pinnacle International for a reported quarter-billion-dollar sum back in 2012. Pinnacle has since begun building out the site, completing the complex’s 65-storey first phase in 2023, while the second phase—the 105-storey SkyTower—is now rising toward a record-breaking height of over 345 metres, taller than any other building in Canada.
Even more buildings were originally planned as part of this massive development, including an enormous condo tower and a commercial complex that retained and expanded the current Toronto Star Building. However, those plans have since changed. Pinnacle has been quietly advancing a new proposal that would introduce 90- and 95-storey towers to the site, while the 1971-built office tower is now set for complete demolition.
The added residential component comes following the scrapping of the large commercial section amid waning office demand and recent changes to City rules that forbid the redevelopment of commercial space without replacement.
On December 4, a permit application was officially filed to demolish the Toronto Star Building, marking a major milestone for this redevelopment project. Once approved, the plan will pave the way for a new chapter at one of Toronto’s most prominent intersections.
Iconic rooftop signage was removed from the tower in late December 2022 after the newspaper’s relocation to The Well’s award-winning office complex. While the existing Brutalist tower has not hosted The Star for approximately two years, its name persists as a nod to its legacy.
Details about the new towers remain unclear as of December 2024, with no updated planning applications yet filed with the City. However, the demolition permit filing suggests that Pinnacle is, at the very least, ready to begin the process of levelling the site for its next phase of development. Earlier this year, Pinnacle circulated plans with the City of Toronto and Waterfront Toronto’s Design Review Panels back in April, though minutes from these sessions remain under wraps.
Though the public has not been given access to the latest plans, The Globe and Mail reported in June that it had obtained renderings and confirmation of the then-current plans for 90- and 95-storey towers.
This redevelopment is not just about tearing down the old—it represents a vision for the future of downtown Toronto, a hub where modern design and functionality will meet to create something extraordinary.
For those who have admired this building over the decades, its pending demolition may evoke a sense of nostalgia. However, it’s also a sign of Toronto’s ever-evolving skyline and the city’s continued growth.