Ontario Construction News staff writer
Lifetime Developments and DiamondCorp are planning to construct a 60-storey condominium tower on Toronto’s waterfront, advancing a project with an estimated construction value of more than $640 million at 200 Queens Quay West.
The development, known as Q Tower, is slated to include 980 residential units and is expected to be completed by early 2030. The project is proceeding amid ongoing concerns about housing supply in Toronto and across Ontario, even as higher interest rates and construction costs have slowed new development.
According to figures provided by the developers, the project is expected to generate more than $295 million in development charges, levies and other contributions tied to city-building requirements.
Ontario’s Minister of Municipal Affairs and Housing Rob Flack said the project aligns with the province’s efforts to accelerate housing construction through legislative changes aimed at reducing approval delays.
Designed by Wallman Architects with interior design by U31, the tower will be located near Union Station, Scotiabank Arena and the PATH pedestrian network, placing it within one of the city’s most transit-connected areas.
An economic impact analysis by Altus Group estimates the City of Toronto will collect more than $10 million in property taxes during the development period, followed by about $6.7 million annually once the building is completed. Over the first decade of operation, that total is projected to reach roughly $67 million, according to the analysis.
The project is also expected to support hundreds of jobs across construction, skilled trades and related industries during the build.
Q Tower will include ground-level retail and resident amenities, along with planned public-realm improvements consistent with broader waterfront revitalization efforts. The developers say the project remains on track to move into construction despite challenging market conditions that have delayed or cancelled other large condominium developments in the region.
