Capital, Woodbourne Break Ground on 88 Isabella Rental Tower

Construction has started at 88 Isabella, a 50-storey purpose-built rental tower just east of Church Street in downtown Toronto. A building permit has been issued, and the project broke ground October 16, 2026. The Diamond Schmitt-designed tower rises 548 feet above a six-storey podium and contains 508 rental units. Capital Developments is developing the project with Woodbourne.

The unit mix includes 16 studios, 322 one-bedrooms, 127 two-bedrooms, and 43 three-bedrooms. Of the 508 units, 426 are market-rate and 82 are rental replacement units for the 14-storey rental building demolished on the site.

First proposed in April 2022 as a 62-storey, 751-unit condominium, the project was resubmitted in 2026 as a 50-storey rental. It has a residential GFA of 35,428 square metres on a 2,071-square-metre lot, an FSI of 17.11. Amenities include an outdoor terrace and pool, fitness studio and spa, children's room, and double-height co-working space. Three underground levels hold 105 vehicle spaces, plus 509 bicycle spaces. The project targets LEED Gold, with completion expected in 2030.

The site sits roughly 500 metres from Bloor-Yonge station. This is the second purpose-built rental partnership between Capital Developments and Woodbourne.