49-51 Yonge Street is a proposed redevelopment of an existing 4-storey Downtown Toronto heritage building. Located on the northeast corner of Yonge Street and Wellington Street East, the proposed plan includes a 62-storey building, preserving the façade of the existing building. The proposed development includes 56-storeys of residential and 4-storeys of office space. The proposed development includes 1,701m2 of commercial space as well as two-levels below-ground accommodating 284 bicycle spaces.

SmartLiving, SmartCentres’ wholly-owned residential development platform, is managing the development process. SmartLiving is collaborating with architects-Alliance as the architect of record, and GBCA as the heritage architect for this project.