A 50-storey purpose-built rental tower has broken ground at 88 Isabella St. in downtown Toronto, promising 500 residences in close proximity to Lines 1 and 2 of the TTC.

Capital Developments, through its purpose-built rental platform Address, and Woodbourne are leading the project.

“We are thrilled to be here with our partners from Woodbourne, moving this project forward,” said Jordan Dermer, co-founder and CEO of Capital Developments, at a ceremonial groundbreaking event. “88 Isabella is our second purpose-built rental together and a clear demonstration of our commitment to compelling design and sophisticated living in Toronto’s best neighbourhoods. It will offer renters exceptional amenities in one of the city’s most well-located, dynamic communities.”

“We’re thrilled to celebrate the groundbreaking of 88 Isabella and look forward to welcoming residents in the not-too-distant future,” said Nick Macrae, president of Woodbourne.

Diamond Schmitt Architects designed 88 Isabella with a generous ground-floor setback. This creates a publicly accessible space at the base of the building and enhances the surrounding public realm. The project also reflects the partners’ commitment to environmental stewardship, with a target of LEED Gold certification.

Canadian design firm Cecconi Simone is handling the interiors.

Amenities will include an outdoor terrace surrounding the base of the tower, a south-facing outdoor pool, a fitness studio and spa, and a children’s room. Co-working spaces for groups and individuals include double-height ceilings.

Construction is anticipated to be completed in 2030.