Our sister site UrbanToronto.ca has further details about developer Menkes' plan to build a 49-storey tower in Toronto. 

An early rendering, looking southwest, image retrieved from Menkes' submission to the City of Toronto

In recent years, the intersection of Yonge and Bloor has been the site of some of Toronto's tallest proposals and construction projects, with the 76-storey 1 Bloor East—now topped off—potentially set to be neighboured by the 84-storey The One. The surrounding Bloor-Yorkville area has also been a hotbed for new development, as a glut of point towers re-shapes the neighbourhood into one of Canada's foremost high-rise clusters. Now, a new Menkes Developments proposal at 771 Yonge Street—just north of Bloor—calls for a slender 49-storey residential tower to rise immediately across Asquith Avenue from the Toronto Reference Library. 

You can find the rest of this story on our sister site, UrbanToronto.ca.