Indeed, in the current cycle (defined by me as 1999 on) we've had an explosion of towers passing the psychological 500 foot threshold:
Previously # of 500+ foot towers: 11
Recently Completed: 3
1 King West - 578 ft.
College Park Tower I - 507 ft.
Harbour View Estates Phase II - 503 ft.
Under Construction: 1
Quantum II - 525 ft.
Building Sites Undergoing Demolition/Site Prep/Excavation: 7
Bay-Adelaide Centre West Tower - 715 ft.
Ritz Carlton Hotel - 684 ft.
RBC Centre - 610 ft.
MLSE Tower I - 610 ft.
MLSE Tower II - 571 ft.
*AbsoluteWorld - ??? Height, 56 floors
Pinnacle Building D - 516 ft.
Plus there are another 5 in sales, 3 approved, 7 proposed, and two office tower proposals (plus the rejected RoCP III/Aura, which will surely still end up on the plus side of 500).