Capital Developments’ purpose-built rental platform, Address, and Woodbourne have officially broken ground at 88 Isabella St, a 50-storey purpose-built rental building in Downtown Toronto.

Located on Isabella Street, just east of Church Street, the project will contain 500 purpose-built rental units, replacing a former 14-storey rental apartment building that occupied the site before being demolished to make way for the new tower.

“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, “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. Delivered under the Address brand, it will offer renters exceptional amenities in one of the city’s most well-located, dynamic communities.” 

The project marks the second purpose-built rental development undertaken through a partnership between Capital Developments and Woodbourne.

“This is our second project with Capital Developments, a partnership built on trust. Our collaboration has given us full confidence in their ability to deliver high-quality purpose-built rental housing. 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. 

Designed by Diamond Schmitt Architects, 88 Isabella is the latest in the rapidly evolving Bloor-Yonge corridor. At street level, the building will incorporate a generous ground-floor setback, creating publicly accessible space at the base of the tower. The design aims to enhance the pedestrian experience and contribute to the surrounding public realm.

Interiors by Cecconi Simone will feature a range of shared amenities, including an outdoor terrace and swimming pool, a fitness studio and spa, a dedicated children’s room, and double-height co-working spaces.

88 Isabella is expected to be completed sometime in 2030.