LIFETIME DEVELOPMENTS AND DIAMONDCORP BREAK GROUND FOR Q TOWER - A LANDMARK WATERFRONT PROJECT POISED TO MEET TORONTO'S 2030 CONDO DEMAND
Rising at 200 Queens Quay West, Q Tower will bring nearly 980 new homes to market alongside more than $295 million in city-building contributions, aligning with the city's growing demand for downtown living.
TORONTO, 21 January 2026 /CNW/ - Lifetime Developments and DiamondCorp are advancing toward the construction of their iconic Q Tower, a transformative 60-storey residential project rising at 200 Queens Quay West. This milestone marks the start of a project with an estimated cost of construction of over $640 million dollars, with more than $295 million in city-building contributions, and is set to inject millions more into the economy and create hundreds of jobs across construction, trades, and related industries.
With construction set to finish by early 2030, Q Tower will be delivered at a pivotal moment, coinciding with a projected surge in demand for well-located, high-quality condominiums along with a considerable housing shortfall as already identified by the Ontario Housing Minister and Canada Mortgage and Housing Corporation.
"Ontario needs more housing, and homebuilders like Lifetime Developments and DiamondCorp are delivering," says Rob Flack, Minister of Municipal Affairs and Housing. "Through the Protect Ontario by Building Faster and Smarter Act and most recently, Bill 60, Fighting Delays, Building Faster Act, 2025, we are creating the conditions to get more shovels in the ground on much-needed projects like this that will open up opportunities for Ontario families."
Designed by acclaimed firms Wallman Architects and interiors by U31, Q Tower will feature 980 residential suites with sweeping views of the city skyline and Lake Ontario. The Queens Quay West project is situated steps from Toronto's central transit hubs and cultural landmarks - including Union Station, Scotiabank Arena, and the PATH system, making it a standout destination for both end-users and investors.
"With Toronto continuing its rapid growth and expansion, Q Tower is arriving at precisely the right time," says Brian Brown, Principal, Lifetime Developments. "Breaking ground this year ensures we're ahead of the curve in delivering much-needed housing to meet demand through 2030. Beyond being a highly sought-after address that will be an added statement to Toronto's waterfront skyline, Q Tower represents a lasting contribution to the city's economic vitality and downtown's continued evolution."
"In today's market, where few projects will reach completion by the end of this decade, Q Tower distinguishes itself as a rare and dependable project," said Ty Diamond, President, DiamondCorp. "But what truly defines it is the long-term benefits it brings to Toronto's Harbourfront. Together with Lifetime, we're not just building new homes, we're creating public spaces, infrastructure, and opportunities that will enrich Toronto's downtown core for decades to come."
"Our analysis confirms that Q Tower will deliver approximately $295 million in direct economic benefits for Toronto, including development charges, education levies, parkland and community benefits, municipal fees, property taxes," said Koover Vohra, Senior Director at Altus Group. "The city alone is projected to collect over $10 million in property taxes during the development period, followed by $6.7 million annually upon completion - adding up to roughly $67 million in the first decade. Beyond these financial contributions, projects of this scale strengthen infrastructure, expand community amenities, and create jobs that directly benefit Torontonians."
The project marks a significant milestone in the revitalization of the Harbourfront, bringing not just new homes but a complete lifestyle experience. Q Tower will feature curated amenities, including a kids' zone, social lounge, fitness and recreation spaces, outdoor dining terraces, and
a stylish street-level lobby with retail frontage. A collaboration with contemporary German Pop artist Michael Moebius, often referred to as the "Bubblegum Artist", will imbue Q Tower's common areas with his signature hyper-realistic illustrative portraits of cultural icons, including Queen Elizabeth II, Kate Moss and James Bond (Daniel Craig). Moebius's work has graced international magazine covers and been featured by esteemed publications such as Vogue, Vanity Fair, and Robb Report.
Sales are currently underway, with suites starting from $599,900.
About Lifetime Developments
For over four decades, Lifetime Developments has been renowned for its creation of thriving residential neighbourhoods and successful commercial properties. With an artistic fervor woven into every project, Lifetime is dedicated to holistic city building in the Greater Toronto Area, building interconnected communities with the purpose of greatly enhancing the city's vibrant real estate and development sectors. Lifetime's strong company culture is rooted in corporate and social responsibility. Lifeline, the company's charitable foundation, was founded to actively support and enhance the communities in which they build. The foundation has since raised more than $3M for organizations that provide necessary aid and support for some of the most vulnerable and at-risk communities in the GTA and across the country.
About DiamondCorp
DiamondCorp is a Toronto based real estate development company with a strong commitment to developing high-quality, innovative, and award-winning residential and mixed-use projects. Having established itself as a leader in the development industry in the Greater Toronto Area, DiamondCorp is committed to progressive city building, rooted in a legacy and tradition of quality and innovation. For more information, please visit www.diamondcorp.ca.
SOURCE Lifetime Developments
Media Contacts: For more information, photos, or to schedule an interview, please contact: Rebecca Risen, NKPR, [email protected], 416.558.1733
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