New plans have been submitted to the City of Toronto for Phase 2 of Pinnacle Lakeside<\/a> in the East Bayfront area. Pinnacle International<\/a> is now proposing a markedly intensified scheme in place of the earlier 43-storey design proposed under the previous owner. The new proposal, designed by Hariri Pontarini Architects<\/a>, would replace the original single-tower with stepped podium concept with a three-building composition of 14, 60, and 70 storeys, with 180 affordable rental homes included.\u00a0<\/p>\n The phase is a 6,933m\u00b2 parcel at 215 Lake Shore Boulevard East, at the southeast corner with Richardson Street. The lands, once occupied by a FedEx warehouse and long referred to as the \u201cFedEx Lands,\u201d are now part of a broader redevelopment area along Toronto\u2019s Central Waterfront. Immediately east, Phase 1<\/a> of Pinnacle Lakeside is under construction with three buildings that will range from 15 to 54 storeys.<\/p>\n A comprehensive redevelopment proposal for the former FedEx lands was submitted in 2017 by the Canadian arm of Chinese developer Greenland Group. In 2018, the Local Planning Appeal Tribunal approved a two-phase development framework, securing permissions for taller towers in Phase 1 while outlining more modest forms for Phase 2. A subsequent application in 2021<\/a> introduced a 43-storey mixed-use building rising from a large, U-shaped podium for the Phase 2 lands. After acquiring the site, Pinnacle International refined the broader master plan, securing approval in 2025 for increased heights<\/a> in Phase 1.<\/p>\n The new Phase 2 proposal now calls for a 60-storey tower to the southeast, and a 70-storey tower to the northwest, and a 14-storey building extending to the northeast from its podium. The buildings would be arranged to frame a new public open space at the southwest corner, with the two tall towers having a separation distance of 25m. Density increases substantially, with the unit count rising from 844 to 1,390 in the new submission. Of the units, 180 would be delivered as affordable rental housing in the 14-storey building, while the remaining 1,210 units would be condominiums, for a total residential Gross Floor Area (GFA) of 117,640m\u00b2. The earlier proposal included a GFA of 64,845m\u00b2, including 62,117m\u00b2 of residential space and 2,729m\u00b2 of retail; the current scheme shifts toward a more residential-focused program with a reduced non-residential component totalling approximately 815m\u00b2, including 347m\u00b2 of retail and 468m\u00b2 of community space.\u00a0<\/p>\n Another change is the relocation and expansion of open space, replacing the previously proposed internal courtyard with a prominent 1,700m\u00b2 POPS (Privately-Owned Publicly-accessible Space) at the southwest corner of the site facing Richardson Street. The revised layout would introduce new north-south and east-west pedestrian routes through the block. There would be approximately 1,310m\u00b2 of indoor and 1,210m\u00b2 of outdoor amenity space for the market units, alongside an additional 360m\u00b2 each of indoor and outdoor amenity space dedicated to affordable housing residents.<\/p>\n Plans entail two elevators in the mid-rise, and six each in the taller towers, resulting in one elevator for every 90 units in the affordable building, one elevator for every 98 units in the 60-storey tower, and one elevator for every 106 units in the 70-storey tower, requiring increasingly high speed motors for reasonable response times in the taller towers. Below grade, the development calls for a five-level underground garage accommodating 625 vehicular parking spaces, an increase from the 606 spaces proposed previously. Of these, 15 spaces would be designated for residential visitors, with additional accessible spaces distributed across uses. Bicycle parking is significantly expanded, with 1,529 spaces provided, including 1,251 long-term and 278 short-term spaces.<\/p>\n TTC bus routes serve Queens Quay and Sherbourne Street. Looking ahead, the planned Waterfront East LRT would replace the buses along Queens Quay. Cycling infrastructure includes the Martin Goodman Trail running just south of Queens Quay, complemented by nearby cycle tracks on Sherbourne Street and The Esplanade.<\/p>\n The surrounding area continues to intensify as part of the broader East Bayfront buildout. To the southeast, 180 Queens Quay East<\/a> is proposed to accommodate a trio of buildings between 15 and 22 storeys. Further east, the Quayside<\/a> community would introduce a mix of mid- and high-rise forms, including a 13-storey building<\/a> alongside taller structures reaching 50, 57<\/a>, and 66 storeys<\/a>.\u00a0<\/p>\n UrbanToronto will continue to follow progress on these developments, but in the meantime, you can learn more about them from our Database files, linked below. If you’d like, you can join in on the conversations in the associated Project Forum threads or leave a comment in the space provided on this page.<\/p>\n * * *<\/p>\n UrbanToronto’s research and data service,\u00a0UTPro<\/a>, provides comprehensive data on construction projects in the Greater Golden Horseshoe\u2014from proposal through to completion. Other services include\u00a0Instant Reports<\/a>, downloadable snapshots based on location, and a daily subscription newsletter,\u00a0New Development Insider<\/a>, that tracks projects from initial application.\u200b<\/p>\n
March 26, 2026 by Anthony Teles<\/span><\/span>\u00a0\u00a0
![\"-\"](\"https:\/\/cdn.skyrisecities.com\/release\/img\/views.png?14728329495\")
\u00a03K\u00a0<\/span><\/div>\nPinnacle Lakeside Phase 2 Plan Revised With Towers Up to 70 Storeys<\/span><\/p>\n<\/div>\n
![\"-\"](\"https:\/\/cdn.skyrisecities.com\/release\/img\/more-content.png?14728329495\")
<\/p><\/div>\n<\/div>\n<\/td>\n