Toronto is in the midst of a historic skyscraper race, as two developments duke it out for the title of Canada's tallest building in a battle for the skies that evokes the colossal Depression-era New York City pissing contest between the Chrysler Building and Empire State Building.

The latest salvo in the fight comes in the form of a planning application submitted on behalf of developer Pinnacle International, hoping to gain approval to increase the heights of the two tallest towers in its massive One Yonge complex.

The application seeks permits for 10- and 12-storey increases to the approved 95- and 80-storey heights of the Pinnacle One Yonge complex's second and third phases, for new heights of 105 and 92 storeys.

If approved, the added height would make the complex's second phase — dubbed SkyTower — the tallest building in Canada, with an astonishing height reaching over 344 metres.

If realized as envisioned, its proposed floor count of 105 storeys would also mark the first-ever instance of a Canadian building to exceed 100 floors.

For a better understanding of how tall the SkyTower would rise with the proposed height increase, a diagram reveals that its roof line would roughly equal the height of the CN Tower's observation deck.

Toronto’s tallest buildings could be getting even taller. A height increase has been proposed for Sky Tower (1 Yonge). If approved at 346 metres / 105 storeys, it would become the first building in Canada to exceed 100 storeys. #Toronto #skyscrapers pic.twitter.com/A69YjvsmSF

— Future Model Toronto (@FutureModelTO) November 7, 2022

But this proposed height increase also appears to be a direct response to a similar planned height increase for The One at Yonge and Bloor, also competing for the title of Canada's tallest.

Both competing towers are already well-under construction, with the SkyTower rising above the foot of Yonge Street and The One now ascending quickly over the southwest corner of Yonge and Bloor.

Hoping to sneak its way back to the top of the skyline, a proposed height increase was tabled for The One in late 2020, seeking permission to construct the luxury condo and hotel tower to a height of 94 storeys, or 338 metres.

Though The One's proposed height increase is still pending approval, Pinnacle International's latest ask adds some insurance to the developer’s claim as constructing the tallest building in Canada.

Even if The One and Pinnacle One Yonge's proposed height increases fail to gain approval, each will still exceed the 298-metre height of First Canadian Place, overtaking the bank tower as the country's tallest building.