Peter Freed announces plans for $800M Toronto tower

Key Takeaways:

• Freed Developments plans to build an $800-million tower in Toronto.
• The building will include hotel and residential units as well as a restaurant.
• The Freed Hotel and Residences is scheduled to begin sales in March 2024 and will be located at 240 Adelaide Street West.

The Whole Story:

Peter Freed of Freed Developments has announced plans to build the Freed Hotel and Residences tower in Toronto.

The developer says the $800-million skyscraper is being designed by Chicago-based tall building experts Adrian Smith + Gordon Gill Architecture (AS+GG), known for the next world’s tallest and skyscraper Jeddah Tower in Saudi Arabia, as well as Central Park Tower in New York.

The project 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.

“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 groundbreaking moment for Freed Developments with the opportunity to merge art, culture, and sophistication through hotel-style living,” said Peter Freed, founder and CEO, 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.”

Sam Nazarian’s sbe, a lifestyle hospitality company that develops, manages and operates restaurants, lounges and nightclubs, announced the project will also include the very first Katsuya restaurant in Canada on the second floor of the Freed Hotel and Residences, expected to launch in Fall 2028.

“Freed Hotel and Residences will bring an unprecedented sophistication and luxury that is a signature of Freed Developments in Toronto. 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.” said AS+GG Partner Gordon Gill, FAIA. “The formal geometry of the tower is defined by both its arrival and skyline expressions. 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 will lead the interior design of Freed Hotel and Residences.

“Freed Hotel and Residences is already an iconic project. By assembling a world-class creative team, Peter Freed has set the stage for innovation and imagination on a grand scale. Together with these exceptional collaborators, DesignAgency is excited to explore new realms of possibility to create immersive interiors that exude great wonder and style,” says Anwar Mekhayech, Founding Partner, DesignAgency.

Key features of the Freed Hotel and Residences project include:

• Freed Hotel Debut: Freed Hotel and Residences marks the introduction of the first-ever Freed hotel in Canada.
• Multi-Functional Tower: The project will feature 100 hotel rooms and 400 condominiums with a Skybar/restaurant on the 63rd floor.
• Katsuya, Contemporary Japanese Restaurant: The hotel will house the Katsuya Japanese restaurant by Sam Nazarian’s Disruptive Group by sbe on the second floor.
• Takashi Murakami Art Integration: Takashi Murakami’s “Together with the flower parent and child” artwork will be featured inside the lobby of the first-ever Freed Hotel and Residences.
• Amenities include: 62nd floor Sky Lobby with grand staircase leading to 63rd floor restaurant and bar featuring 70 ft tall space below a sloping skylight, boutique spa, terrace and outdoor garden, private spaces for entertaining and dining, fitness and yoga studio, private theater room, valet parking and full-service concierge, and more.

Over the past 30 years, Freed Developments has completed $10 billion of developed projects in Toronto. Its portfolio includes luxurious modern condominium projects, F&B ventures, resort communities, and commercial spaces, led by the Founder and CEO Peter Freed. Some notable projects are the Art Shoppe Lofts and Condos in collaboration with Karl Lagerfeld, Seventy5 Portland with globally renowned designer Philippe Starck, Fashion House on King Street West, and the Thompson Hotel.

In addition, Freed Hotel & Resorts is now the largest owner and operator of hotel and resort communities in Canada, which includes properties at Muskoka Bay Resort, Deerhurst Resort, Horseshoe Resort, and Blue Mountain Resort.

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