A 37-Storey Tower at the Carpet Factory? What's Being Proposed in Liberty Village Right Now

Liberty Villiage Rachel Currey July 18, 2026

One of Liberty Village's most recognizable landmarks could be getting a very tall neighbour. Applications filed with the City this month propose a 37-storey tower at the southeast corner of the Toronto Carpet Factory, the heritage brick campus bounded by King, Fraser, Liberty and Mowat. The plan would add 263 purpose-built rental apartments and 168 hotel suites while keeping most of the historic complex intact. And it is far from the only project in the queue. By our count from the same planning filings, there are roughly a dozen towers proposed in and around the neighbourhood.

Thinking about buying or selling in Liberty Village while all this takes shape? Talk to us, we work in this neighbourhood every week.

Rendering looking southeast to the proposed 37 storey Carpet Factory redevelopment tower in Liberty Village, Toronto

Looking southeast to the proposed tower. Rendering: Allies and Morrison for Hullmark, from the development application to the City of Toronto, via UrbanToronto.

What's proposed at the Carpet Factory

The application comes from Hullmark, the owner behind the Carpet Factory's office campus, with design by Allies and Morrison. The tower would rise about 135 metres with a seven-storey podium along Liberty Street and an eight-storey podium along Fraser. Beside it, a new two- to three-storey commercial building at 100 Liberty Street would hold ground-floor retail, second-floor offices and a hotel pavilion connected to the main building by a pedestrian bridge.

The rental mix skews the way Liberty Village already does: 7 studios, 154 one-bedrooms, 76 two-bedrooms and 26 three-bedrooms. One detail that jumped out at us: three underground levels with 26 visitor spaces and 94 commercial spaces, and no dedicated resident parking in the plan. The bet is on transit and bikes, with 336 bicycle spaces and the future Ontario Line interchange at Exhibition GO about a 445 metre walk away. The full details are on UrbanToronto.

Ground floor plan of the proposed Carpet Factory redevelopment showing retail, hotel and residential lobbies and pedestrian laneways

Ground floor plan. Rendering: Allies and Morrison for Hullmark, from the development application to the City of Toronto, via UrbanToronto.

The heritage campus stays

If you love the Carpet Factory, the news is mostly good. The proposal removes a surface parking lot, the one-storey building at 70 Fraser and part of 100 Liberty Street, then keeps the rest of the campus, which has been designated under the Ontario Heritage Act since 1975 and houses more than 100 office, retail and restaurant tenants. The plan adds covered pedestrian laneways through the site, and the new architecture borrows the brick and vertical proportions of the original buildings. Adaptive reuse done properly is part of why Liberty Village feels like Liberty Village, so this is the part we will be watching closest.

More Liberty Village reading from our team:

Schematic map showing approximate locations of nine proposed developments in and around Liberty Village, Toronto, including the 37 storey Toronto Carpet Factory tower

Approximate locations of proposed developments in and around Liberty Village. Schematic only, not to scale.

The rest of the pipeline

The Carpet Factory proposal lands in a neighbourhood with a serious development queue. From the same planning records: 8 Temple at 15 storeys and 10 to 20 Tyndall at 25 storeys to the west. Liberty Yard with three towers of 32 to 36 storeys, plus a 44-storey proposal at 80 Lynn Williams, to the northeast. To the east, 58 Atlantic at 51 storeys and the Exhibition Transit Oriented Community, which includes a 44-storey building on its Jefferson site and 38 and 54 storey towers on its Atlantic site. South of Liberty Street, The Castle at 10 and 11 storeys and a 55-storey proposal at 147 Liberty. Every one of these is a proposal, not a construction site. Some will be approved as is, some will shrink at the negotiating table, and some may never happen.

What this means if you own, rent or want to buy here

Rendering looking northwest to the brick podium of the proposed Carpet Factory redevelopment in Liberty Village

Looking northwest to the podium. Rendering: Allies and Morrison for Hullmark, from the development application to the City of Toronto, via UrbanToronto.

For renters, more purpose-built rental is straightforwardly good news over time. More supply means more choice, and buildings built to be rentals tend to be managed like it.

For condo owners, we would not lose sleep over competition from a tower that is years from occupancy at best. The bigger takeaway is what this much proposed investment says about confidence in the neighbourhood, especially with the Ontario Line coming to Exhibition. Long term, transit and employment density are what hold values up.

For buyers, the pipeline is worth factoring into a purchase. A unit's view or quiet street can change when the lot next door gets approved, so we always pull the active applications around a building before our clients make an offer. It takes an hour and has changed more than one decision.

And one small footnote to our earlier parking research: a 263-unit building with zero resident parking spots is a pretty clear signal of where developers think Liberty Village is heading. If you own a deeded spot, it may quietly be getting more valuable.

Want to know how the development pipeline affects your building specifically? Request a valuation or get in touch and we will pull the applications near you.

Rachel Currey
Liberty Village Real Estate Expert
Dave Dubbin & Associates, Real Estate Broker for Etobicoke and Toronto