Just over a month ago, MOD Developments, the Toronto based company behind FIVE Condos on St. Joseph Street, announced they had acquired one of the historic bank buildings on Yonge Street opposite the Eaton Centre with plans for a new residential tower.

The first renderings of Massey Tower are now available for dissection, and it looks like we have a real whopper on our hands. A soaring 60-storeys, the condo easily dwarfs its close neighbours despite standing on a block with 15-storey zoning cap. The award-winning architects, Hariri Pontarini, have included space for retail and other non-residential uses under the assumption the current height rules can be changed.

According to the design, Massey Tower will span the existing parkette and the lot behind the two historic bank buildings, one of which, 197 Yonge, will be renovated for use in the new development. Perhaps the most remarkable thing about this building is the fact nothing needs to be demolished — Massey Tower will slip into place like a giant Tetris block.

What do you think of the design — is 60 floors overkill? Will the condo overpower the section of street or is it exactly the type of bold statement the area needs? The fact that one, possibly two, historic buildings are being preserved, per MOD's M.O., is surely a victory for heritage preservation, but surely some won't relish the price.

The full set of images (crops via Urban Toronto):

All images by Hariri Pontarini Architects/MOD Development.