In May we discovered a new landmark project in the Financial District that was quite intriguing. Although we still have some questions to be answered, we are pleased to provide an update on the progress of this latest development.

Concert Developments will be moving forward with a 58 storey tower condo at 88 Scott Street formerly referred to as 40 Scott St., featuring 513 residential units.  The location is at the Royal and Sun Alliance Building which was an art deco building originally built in 1951.

Concert’s current plan is to use the same material used on the outside of the building as the exterior cladding for the tower.  To design the building, Concert brought on Page + Steele / IBI Group.

The location is an interesting one. Scott St. is in the heart of the financial district and offers an excellent opportunity for anyone who is interested in a home or investment in the city. Its minutes from King Subway Station, Metro, Berczy Park,  the Sony Centre For Performing Arts, and St. Lawrence Market. That’s one heck of a location!

With a limited amount of residential options in the area (1 King West, The Cosmopolitan Hotel and 7 King St. East) it will be interesting to see how the public receives this project. Will it be investor driven? Will it be end user driven?

What are your thoughts? What do you think about the projects look, as well as the potential for the area?