527-Unit, 50-Storey Rental Tower Files Site Plan at 1243 Islington

A 50-storey, 527-unit purpose-built rental tower is moving forward at 1243 Islington Avenue in Etobicoke, steps from Islington subway station. The Montez Corporation project, designed by Sweeny &Co Architects, rises 538 feet. A Site Plan Approval application has been filed for the revised rental version.

The site was first proposed in November 2025 as a 61-storey, 719-unit condominium tower rising 198.8 metres. Council approved a Zoning By-law Amendment in June 2026 for a 61-storey, 191-metre mixed-use building with 702 condo units. The plan was revised in September 2026 to the current 50-storey rental with 527 units.

The project includes 16 affordable rental units, down from the 21 affordable rental units secured in the zoning bylaw for the condo version, which represented 3% of the suites. Amenities include indoor and outdoor space, ground-floor retail, and bicycle parking. The approved condo version had 47,966 square metres of gross floor area at an FSI of 18.1, with 98 parking spaces and 540 bicycle spaces. The tower replaces a 12-storey medical office building on a 2,646-square-metre lot.

The site sits within the Islington station Protected Major Transit Station Area, less than 45 metres from the subway entrance.