A bold vision to plop new levels onto a downtown Toronto hotel and turn it into a soaring 71-storey skyscraper is the latest casualty of a gutted real estate market, as the plan joins a growing list of scrapped development schemes in the city. A 2022 plan to redevelop the existing Cambridge Suites Hotel at 15 Richmond St. E. into a new mixed-use condo tower turned heads with its design by WZMH Architects for Centennial Hotels Limited. However, after the plan went silent for three years, it was revealed that Manga Hotels had purchased the property for over $110 million in the fall of 2025. During that disastrous third quarter, Urbanation reported 10 projects with a total of 2,499 units cancelled, for a combined year-to-date total of 18 projects and 4,040 units cancelled. This figure shattered the previous record high for cancellations recorded in 2018, when 15 major projects were cancelled with a total of almost 3,600 units.