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Huge Toronto condo tower planned for over a decade might finally happen

Plans to tear down a midtown Toronto office building and construct a soaring condo tower have been in the works for a decade now, and a new plan filed with the City last month could finally result in big changes just east of the Yonge and Eglinton intersection.Developer State Building Group has long been eyeing its property at 55 Eglinton Avenue East as a redevelopment cash cow. Currently home to an eight-storey office building, the owners have been planning to level the mid-rise property and replace it with a high-rise that would keep in character with the changing face of this artery.The project was first proposed as a 47-storey mixed-use tower back in the closing days of 2014, and almost exactly one decade and several revisions later, it is now inching closer to realization with a planned height of 55 storeys.The City refused that early plan, citing its elimination of employment space in favour of residential. This led to a revisions tabled a few years later that retained of...


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