TORONTO IS GETTING “A VANCOUVER BOOST” WHERE GERRARD STREET EAST MEETS YONGE

It seemed we were sunk when the Cresford Developments real estate empire collapsed. That left the city with a partly built block of Yonge Street, the best known and most important downtown thoroughfare. Over several months an expansive, deep hole was dug up behind an abundance of small, important businesses.  Miraculously, Vancouver’s Concord Adex discovered a rescue opportunity. It gained court approval to remove from bankruptcy the project formerly known as Yonge Street Living Residences (YSL)’, and replacing that with a 95-storey building named ‘The Concord Sky’. Living up to its name, this will be one of the tallest towers in Toronto when it’s completed in 2026. Isaac Chan, vice-president, Concord Adex Sales and Marketing, said “We managed to come up with a good solution that all parties are happy with. It’s taken a little bit longer than we anticipated, but these are complicated projects.”