Toronto The One | 308.6m | 85s | Tridel | Foster + Partners

[Mercenary]

Sure, go on admiring the fine craftsmanship and marvel at the engineering of the Titantic after you’ve hit the iceberg and are taking on water. Hope you know how to swim for 2 days in the icy North Atlantic.

When rookie developers pull what very likely appears to be massive financial scams like this one it taints the entire industry. Regulators, lenders, investors, governments etc become extra and over cautious when making decisions and as a result the entire industry gets tainted with the stench of a small number of bad actors and development in general gets stalled.

Anyone who touches the industry in any way is affected by the sort of financial fraud that appears to have taken place here. Again, this is my personal opinion and reading of the widely reported facts. I have no first hand knowledge of the situation but I do know that I’ve never seen or heard of numbers this outrageous anywhere in this city.

You sound like a person who has been previously banned from this Forum for spewing the kind of rhetoric about this project. And now when this news broke, created a new account and came back to spam.

Not sure what you gain from doing this. But I suggest you utilize your time on more productive endeavours.

 

[UtakataNoAnnex]

Now, now...be nice! >.<

 

[hawc]

I just hope all the investors and developers still make lots of money on this development. I'd hate for them to lose money.

Maybe Brad Lamb can step in and bankroll it to completion.

 

[Tesla]

I just hope all the investors and developers still make lots of money on this development. I'd hate for them to lose money.

Maybe Brad Lamb can step in and bankroll it to completion.

The receiver’s factum states that the project is projected to lose $600 million. Let that sink in. This is just one condo building on a relatively small piece of property!

I’m sure that’s just the minimum. Not only will every investor in this project lose every penny they put in but it appears the lenders will likely lose a huge chunk as well.

But the real damage will be to the Toronto development industry, in my opinion.

 

[hawc]

That's so crazy. If I were an investor and you told me that the opportunity was the highest skyscraper in Canada with a projected height of 91 stories, the developer was Mizarahi, the architect was Foster & Partners and the main ground floor retail tenant was going to be Apple. I'd be like "Take my Money!!!"

What seemed like a can't loose investment has turned into a can't win investment.

 

[Collingwoodbuildinglover]

Fun little fact if you factor in inflation the construction of the empire state building cost 800 million more than it was supposed to. If you factor an inflation, they got the budget wrong for the world trade center by over a billion projects don't always go exactly according to budget. As a matter of fact none do

Also to say that this would be a complete loss to the investors. Isn't true. If the building is finished and occupied that investment will be made back it will just take longer anything like this is like investing in a stock in the stock market. It is a gamble you are taking. You could win big or you could lose everything in this case. They lost everything that was their gamble to make

 

[vinny_the_hack]

I don't know about anyone else, but I tend to sport a lil grin when I read about the occasional large loss of virulent capitalists hoping to make big profits by doing exactly nothing other than moving digits around. I do, however, enjoy watching this building go up.

 

[3Dementia]

.... like wouldn't it be funny if Pinnacle bought this project and now built the two tallest buildings in Toronto?

I'd vote for CentreCourt in a J-V with Pinnacle's deep pocket$.

The 91st storey penthouse would be poured on Friday December 22, 2024 at 4:12pm.

 

[RickyBobby]

I'd vote for CentreCourt in a J-V with Pinnacle's deep pocket$.

The 91st storey penthouse would be poured on Friday December 22, 2024 at 4:12pm.

Centrecourt builds at the low end of the market. This wouldn't fit them.

 

[RickyBobby]

That's so crazy. If I were an investor and you told me that the opportunity was the highest skyscraper in Canada with a projected height of 91 stories, the developer was Mizarahi, the architect was Foster & Partners and the main ground floor retail tenant was going to be Apple. I'd be like "Take my Money!!!"

What seemed like a can't loose investment has turned into a can't win investment.

This seemed like a can't win.

1. Mizrahi has never built a skyscraper.
2. The local architect is Core who hasn't built any supertalls
3. Local trades have never built anything like this before.
4.. The capital is overseas capital.
5. The intersection is exceptionally challenging for material delivery

 

[UtakataNoAnnex]

1. Mizrahi has never built a skyscraper.
2. The local architect is Core who hasn't built any supertalls
3. Local trades have never built anything like this before.
4.. The capital is overseas capital.
5. The intersection is exceptionally challenging for material delivery

6. Lots of folks have an axe to grind with Sam, lol.

 

[Johnny Au]

Part 1 of 2 taken on October 22, 2023:

Bay and Cumberland:

Balmuto side:

Bloor side:

Spoiler: Additional Photos

 

[mburrrrr]

From Tommy Thompson Park - Sunday

Sailboat mast in the way.

 

[jozl]

Does any one recall a messy change of ownership that resulted in stalling the groundbreaking of One Bloor East? Or am I hallucinating again?

 

[BloorMan]

I just got back from vacation and the tower looks like it's grown some. There doesn't appear to be any activity at the top but the crane is growing taller, even though the protesters are blocking the Yonge/Bloor intersection.