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Toronto’s Financial District could soon see the final phase of Brookfield Place take shape, this time in residential form. Brookfield Residential has submitted a revised Site Plan Approval application to the City for 20–22 Front Street West, where a 40-storey mixed-use rental building is now planned in place of a previously approved 52-storey tower.
Brookfield attributes the reduced scale to declining rental rates and rising vacancies. Notably, though, the revised massing also softens shadow impacts on Berczy Park and preserves more of the CN Tower view corridor along Front Street from the east, including from popular vantage points. Situated steps from Union Station and directly connected to Toronto’s PATH network, the Core Architects-designed tower advances Brookfield’s long-anticipated third phase for the site.
The parcel sits on the north side of Front between Yonge and Bay streets, forming the southern edge of the Brookfield Place complex. Currently occupied by a 14-storey office building, the property is surrounded by high-density office towers, heritage landmarks, and retail.
Originally built in 1923 as the Gowans Kent Building, the site was long envisioned as the location for Brookfield Place’s third commercial tower, a plan that stalled during the early 1990s recession. The office building — which was extended by four floors in the mid-1980s —has remained underused in the decades since.
Brookfield’s proposal to adaptively reuse the heritage base was granted Zoning By-law Amendment, Official Plan Amendment, and heritage approvals by City Council in July, 2024. Overseen by ERA Architects, ground-level improvements planned include reinstating the east storefront entrance to its original heritage location and new glazing and arched openings for the west facade fronting Brookfield Place's Garden Court.
The previous 52-storey submission was filed in May, 2023. The revised proposal calls for a 40-storey purpose-built rental tower rising 134.92m (down from 175m), containing 480 residential units, decreased from 599. Of these, 16 would be secured as affordable rental units. Brookfield notes that average unit sizes remain unchanged despite a reduced floor-plate.
Gross Floor Area has been trimmed to 35,113m², down from 44,304m², with the bulk allocated to residential use at 30,205m². Retail would front Front Street West at grade, expanding to 625m², an increase from the original 546m². Consequently, the Floor Space Index has been scaled back from 30.79 to 24.4 times coverage of the 1,439m² site.
The updated plan proposes 1,929m² of total amenity area, down from 2,457m², comprised of 1,560m² indoors and 369m² outdoors. Four dedicated residential elevators are planned, equating to one per 120 units, which would require high-speed motors to provide adequate response times.
Two underground levels would accommodate a total of six vehicular parking spaces, all designated for visitors, while 432 long-term and 48 short-term bicycle parking spots are proposed.
One of the concerns addressed in the revised submission is the preservation of a prominent skyline view corridor looking west along Front Street East from Market Street. This vantage point offers a framed view of the CN Tower rising behind the Financial District, with heritage buildings in the foreground, a perspective widely recognized by locals and visitors alike.
The original 52-storey proposal (above) drew criticism for encroaching on this sightline. While the revised 40-storey scheme (below) does not entirely eliminate the visual intrusion, the slimmer profile and increased tower separation from 181 Bay Street ease the obstruction and help maintain the clarity of this well-known urban vista.
The site is less than 200m, or about a three-minute walk, from Union Station, offering access to GO Transit, the UP Express, VIA Rail, and multiple TTC subway and surface routes. For cyclists, there are routes along Yonge, Bay, and The Esplanade, with nearby connections to the Martin Goodman Trail.
The proposal joins a fast-growing cluster of major developments in the downtown core. Directly across the street, One Front is proposed at 45 and 49 storeys, while just south of that, CIBC SQUARE is adding a 50-storey second phase to it initial 49-storey phase now completed to the south. To the east, 45 The Esplanade is seeking approval for 39 storeys. Northward, major proposals include 49-51 Yonge at 62 storeys, 191 Bay at 64 storeys, 60 Yonge at 65 storeys, and 55 Yonge at 68 storeys. Further south, towers at Sugar Wharf Phase 2 are planned to reach up to 85 storeys, while Pinnacle One Yonge is under construction, including the 106-storey SkyTower, set to become Canada’s tallest building.
Construction staging for 20 Front West has been approved to begin in August, 2025, with a sidewalk closure and curb lane occupation along the north side of Front Street West extending through to the end of 2030.
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EDITOR'S NOTE: This story has been updated to reflect Core Architects being the current designer of the project.
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