A proposed 75-storey residential building in downtown will be one of Toronto’s tallest condos.

Officials, including Build Toronto CEO Lorne Braithwaite and Tridel Corp. president Leo DelZotto, are unveiling more details of their partnership at a news conference underway at First Canadian Place Gallery.

Build Toronto, the city’s arm’s-length real estate and development corporation, said the proposed condo called Ten York will be located at 10 York St., which is currently a parking lot and formerly a police towing compound.

When completed, the new condo would be 240-metres tall, making it one of the tallest residential buildings in the city. The Trump International Hotel & Tower, which will open Jan. 31, 2012, claims it will be the tallest condo with 60 floors and 276.9 metres. The Aura condo under construction at College Park will be 75 storeys and 264-metres tall when it's completed in a few years.

Build Toronto, which is comprised of real estate experts, was launched in 2009 by the city’s previous mayor, David Miller, to sell or develop underutilized city real estate to generate revenue.