A new tall tower is beginning to rise just north of Toronto's bustling Yonge-Dundas (soon to be renamed Sankofa) Square, one that will forever alter the feel of the area.

The project at 8 Elm Street, on the northwest corner of Yonge and Elm, has been in progress since early 2023 and is now preparing to break into the downtown skyline.

Yonge-Dundas Square is often touted as Toronto's (less impressive) answer to Manhattan's Times Square, though our local version lacks the verticality of the more famous media-covered square in New York.

However, this under-construction 69-storey condo tower from Reserve Properties and Capital Developments will forever transform the famous north-facing view of the square, adding a soaring backdrop to the busy public square.

The tower's position two short blocks north of the square will give it prominence in postcard-worthy views in the years to come — something that played heavily into the project's marketing phase to sell off the 819 units within.

Facing northwest across Yonge Street toward the site of 8 Elm. Photo by Fareen Karim.

With the building's underground levels complete, concrete forming has since risen to the second level above Yonge Street.

Facing northwest toward the site of 8 Elm. Photo by Fareen Karim.

New levels are rising alongside a preserved heritage facade of the James Fleming Building along Elm — formerly the longtime home of Aden Camera — that will be incorporated into the completed development.

Preserved heritage facade at the site of 8 Elm. Photo by Fareen Karim.

It will still be several months before construction makes an impact on the area's skyline, and the building's design by architects Arcadis becomes apparent with the installation of exterior finishes.

Facing southwest across Yonge Street toward the site of 8 Elm. Photo by Fareen Karim.

For now, most passersby on Yonge Street have little clue how significantly this easily-missed construction site will impact iconic views of the city.

Forms are now being placed for the third floor of 8 Elm. Photo by Fareen Karim.

And 8 Elm is really just one step towards the vertical transformation that will further Manhattanize this busy area of the city in the coming years.

An upcoming redevelopment of Atrium on Bay would add further verticality just opposite the square. The Yonge and Gerrard intersection to the north will soon be cemented as one of the tallest points on the skyline, with construction in full swing for the enormous Concord Sky, and major plans in play for the Chelsea Hotel, 372 Yonge, and 399 Yonge.