Midtown Toronto very much mirrors the city’s downtown with its tall towers. However, Midtown offers more multifamily housing choices, now including Ayoka, a purpose-built rental tower completed in the Mount Pleasant West area.
The 39-storey, 389-unit development at 55 Broadway Ave. is on a residential street just steps from the Yonge-Eglinton Centre. It also qualifies as a transit-oriented development by virtue of being close to the Toronto Transit Commission’s subway network and the crosstown Eglinton light rail transit line.
Moreover, the five-star building is considered an elevated rental option in a lively neighbourhood, especially because Ayoka has expanded options for renters, who have long had to choose between spacious but aging multifamily buildings and small condo rentals. Ayoka is designed with wellness in mind by using a Japanese aesthetic that supports the “Live Life Zen” mantra.
As a result, Ayoka was selected as the winner of the CoStar Impact Award for multifamily development of the year, as judged by an independent panel of industry professionals in the market.
About the project: Ayoka has a 24-hour concierge to go along with other amenities such as fitness and yoga space, a quiet study library, co-working areas, and a ground-floor resident’s lounge. Each suite has a large, private balcony. The building was delivered in September 2025.
What the judges said: “Zen vibes from the aesthetic they created. Beautiful finishes and a place you could happily live and thrive," Avison Young principal Allen Grinberg said.
They made it happen: The Times Group team members who played major roles in the development of 55 Broadway Ave. include: Ali Mesgarzadeh, president; Hessam Ghadaki, development counsel; Hamid Ghadaki, co-founder and development manager; Sepehr Vakili, director of leasing; Chelsea Lin, property manager; Andres Griffiths, senior adviser of real estate; Brian Fieldhouse, art director and marketing manager; Katrina Luo, leasing manager; leasing associates Sam Gorbasaw and Alyssa Tran; Tony Ma, project manager; Neil Javiya, assistant community manager and Cathryn Wang, account manager. Also, Rudy Wallman, principal of Wallman Architects, and Roy Li, Canada Mortgage and Housing Corp.