13 Feb 24 | On-Site

Toronto set to gain another new skyscraper

By Adam Freill

Freed Developments has announced its plans for an $800M, five-star luxury hotel and residences project, which will add a new skyscraper to Toronto’s skyline.

Real estate developer Peter Freed of Freed Developments recently announced that the first-ever Freed Hotel and Residences tower will be located at Adelaide and Duncan, in Toronto’s downtown.

The skyscraper project is being designed by Chicago-based tall building experts Adrian Smith + Gordon Gill Architecture, who are renowned for the next world’s tallest and most luxurious skyscraper Jeddah Tower in Saudi Arabia, as well as Central Park Tower in New York.

The Toronto project will feature 100 five star luxury hotel rooms and 400 luxury condominiums with a world-class restaurant on the 63rd floor, a boutique spa, and a 10,000-sq-ft Katsuya Restaurant on the 2nd floor.

Sam Nazarian’s sbe, a leading lifestyle hospitality company that develops, manages and operates world-class restaurants, lounges and nightclubs, expects this first Katsuya restaurant in Canada to launch in the fall of 2028.

“We are so thrilled to be bringing the iconic Katsuya brand to Canada for the first time with Peter Freedand his best-in-class team at Freed Developments,” stated Sam Nazarian, founder and CEO of sbe. “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.”

In addition, artist Takashi Murakami’s artwork Together with the Flower Parent and Child will be featured prominently in the lobby of the hotel and residences.

“As the largest owner and operator of the Ontario hotel and resorts portfolio, this project is a testament to my profound love for Toronto. Freed Hotel and Residences represents a ground-breaking moment for Freed Developments with the opportunity to merge art, culture, and sophistication through hotel-style living,” explained Peter Freed, founder and CEO of Freed Developments. “Building on Freed’s 30-year legacy of best-in-class projects, Freed Hotel and Residences will proudly display a captivating piece of artwork by Takashi Murakami, adding a unique cultural dimension to this venture, while also bringing forward the first-ever Katsuya Restaurant to Canada which will further enhance the city’s culinary landscape, and best-in-class hotel experiences for both residences and guests.”

“Freed Hotel and Residences will bring an unprecedented sophistication and luxury that is a signature of Freed Developments in Toronto,” stated AS+GG partner Gordon Gill. “Located at the corner of Adelaide and Duncan Streets, the tower will offer residents and visitors spectacular views of the city and Lake Ontario. The tower shines against the city’s already impressive skyline, becoming an instant icon.”

Located at 240 Adelaide Street West, the Freed Hotel and Residences is scheduled to begin sales this March, with residential units ranging from 270 sq. ft. to over 9,800 sq. ft.