After decades of delays, a long-dormant redevelopment plan in Toronto’s Financial District is showing signs of life — and it could radically reshape one of the city’s most cherished heritage buildings.
The Dominion Public Building at 1 Front Street West, a Beaux-Arts gem constructed between 1926 and 1935, has stood as a limestone monument to Canada’s federal presence for nearly a century. Now, it may soon find itself with two towering additions that could redefine its future in the skyline.
A Plan That Just Won’t Die
The idea of building on top of the existing five-storey structure isn’t new. In fact, it goes all the way back to 1996, when a settlement between the federal government and the City of Toronto allowed for a 137-metre tower envelope above the building. But economic headwinds and growing heritage protections kept the proposal on ice for years.
Things shifted again in 2016, when the Dominion Public Building was officially designated under the Ontario Heritage Act. That same year, the federal government put the site up for sale. By early 2017, it was snapped up by Larco Investments.
Enter the Two-Tower Plan
Larco unveiled its vision in 2018: a pair of residential rental towers — 49 and 45 storeys — designed by architects—Alliance, incorporating hotel and retail components as well. City Council approved zoning for the project in 2020, but since then, the site has remained untouched.
Until now.
As of 2025, Larco has submitted new updates to its approved plan, signaling that this long-stalled project is back on track. The changes are mostly subtle: updates to 14 of the 18 planned window openings on the Front Street side, and a proposal to lower seven windows around the building’s main entrance to accommodate street-level retail.
Why Now?
In a market where many condo projects are being paused or cancelled due to declining sales, Larco’s rental-focused approach may give it an edge. The revised plan appears to have anticipated Toronto’s cooling condo market, and with few structural changes since 2020, the project looks ready to move forward.
For a building that has already witnessed nearly 100 years of history, this next chapter promises to be one of the most dramatic yet — merging heritage preservation with contemporary development in one of the city’s most high-profile intersections.
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