Luxury hotel coming to Toronto

Freed Developments Announces 5-Star Luxury Hotel and Residences Project, An $800M Skyscraper Set To Transform The Toronto Skyline (CNW Group/Freed Developments)

Robin MacLennan

Ontario Construction Report staff writer

Real estate developer Peter Freed has announced the first-ever Freed Hotel and Residences, a 63-storey luxury hotel and condo at the site of the former Crocodile bar in downtown Toronto.

With an expected completion in 2028, the $800 million tower is designed by Chicago-based tall building experts Adrian Smith + Gordon Gill Architecture, known for designing the world’s tallest skyscraper, the Jeddah Tower in Saudi Arabia.

The development will feature 100 five-star luxury hotel rooms and 400 luxury condominiums with a Skybar/restaurant on the 63rd floor, boutique spa, and a 10,000 sq ft Katsuya Restaurant on the 2nd floor, the first Katsuya location in Canada. It will also feature artwork by Japanese artist Takashi Murakami.

“As the largest owner and operator of the Ontario hotel and resorts portfolio, this project is a testament to my profound love for Toronto,” Peter Freed, founder and CEO of Freed Developments, said in a statement.

“Freed Hotel and Residences represents a groundbreaking moment for Freed Developments with the opportunity to merge art, culture, and sophistication through hotel-style living,” added AS+GG partner Gordon Gill.

“Diamond shaped facets create a distinctive arrival and retail experience at street level, while the complimentary faceted silhouette of the tower’s top creates an iconic identity within the Toronto skyline. The tower boasts luxurious hotel and residential functions with abundant amenities including terraced, outdoor garden spaces.”

Toronto’s DesignAgency leads the interior design.

“Freed Hotel and Residences is already an iconic project. Together with these exceptional collaborators, DesignAgency is excited to explore new realms of possibility to create immersive interiors that exude great wonder and style,” said DesignAgency founding partner Anwar Mekhayech.

Amenities will include a 62nd floor Sky Lobby with grand staircase leading to the 63rd floor restaurant and bar with a 70 ft tall space below a sloping skylight. It will feature a boutique spa, terrace and outdoor garden, private spaces for entertaining and dining, fitness and yoga studio, private theatre room, valet parking and full-service concierge.

The Freed Hotel and Residences is scheduled to begin sales in March 2024 and will be located at 240 Adelaide Street West.


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