Toronto The One | 328.4m | 91s | Mizrahi Developments | Foster + Partners

This is starting to make me wish Mizrahi opted to use RAMSA architects for this site, as he originally planned. Wouldnt have the same engineering issues.
 
xy3 said:
This is starting to make me wish Mizrahi opted to use RAMSA architects for this site, as he originally planned. Wouldnt have the same engineering issues.
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I don't think architecture is an issue at all here.
 
Yes, but for a lot of people here, the engineering complexity is why this thread has over 1054 pages if every building was the same, this fourm wouldn't need to exist as shown by multiple other pages and buildings on this site, people don't want the same thing over and over again. They want to see new things. They want to see new technologies that is why this thread is so popular because of all the systems that are being used to build this tower
 
Why is everyone looking for a silver bullet that killed this? Let me describe this from the outside and you can tell me if it's setup for success:

Developer who has never built a high rise builds Canada's tallest and arguably most epxensive high rise, with structural system which has never been built in Canada, in middle of one of Toronto's busiest intersections, with overseas capital, and decides to fire CM and self-perform construction management in middle of Global Pandemic.

Developer started the development by smashing heritage facade in dead of night. Architect of Record is Core who has experience in local high-rise development of smaller scale.

Compare to Forma:

Storied high rise developer, who has built several of Canada's largest towers, builds complex facade with one of Canada's best GCs, funded by local REITs and Family Offices, with debt from Schedule A banks. Architect of Record us Adamson who has done drawings for most of world's largest towers.

Forma may die yet but we aren't in the same part of the river.
 
SonyPayStation said:
Why is everyone looking for a silver bullet that killed this? Let me describe this from the outside and you can tell me if it's setup for success:

Developer who has never built a high rise builds Canada's tallest and arguably most epxensive high rise, with structural system which has never been built in Canada, in middle of one of Toronto's busiest intersections, with overseas capital, and decides to fire CM and self-perform construction management in middle of Global Pandemic.

Developer started the development by smashing heritage facade in dead of night. Architect of Record is Core who has experience in local high-rise development of smaller scale.

Compare to Forma:

Storied high rise developer, who has built several of Canada's largest towers, builds complex facade with one of Canada's best GCs, funded by local REITs and Family Offices, with debt from Schedule A banks. Architect of Record us Adamson who has done drawings for most of world's largest towers.

Forma may die yet but we aren't in the same part of the river.
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I wouldn't say it's the silver bullet that killed it. The project is still being worked on. Work has not stopped and I believe that given the progress it will be completed and there will be no work stoppage maybe a slowing but I believe this project will continue to move
 
It's not only what you have built, but what materials you have already contractually agreed to buy. Based on where the tower is today and industry material long lead times I doubt much of the remaining build could be cancelled without significant penalties. I look forward to our regular photo contributors future efforts...
 
Everything mentioned as a contributor factor has contributed to its current situation. This development was in a precarious position right from day one. The debt and time to build an 80 storey tower on one of the busiest corners in the city outshadows Covid, the complex design, permitting issues and everything else mentioned combined.

Wishful thinking that a development in receivership will continue to completion will minimal disruption and before it has been sold to another developer. The multi-billion pricetag will reduce the number of potential buyers
 
I could swear that there's a condo tower in Chicago that was roughly 80% structurally completed when the plug got pulled on it a dozen years ago and it's been a hulking concrete shell ever since...

EDIT: I was wrong. It was called the Waterview Tower, and 26 stories were completed before it sat abandoned for 5 years before being completed as something totally different.
 
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Blovertis said:
For me the only question right now is how many additional storeys $315 million is going to buy
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I see several comments on additional storeys being a great strategy. The land value here is maybe $300 PSF, and the risk is enormous to add more density when you still haven't sold nearly $1.4 billion of inventory. I'm not sure throwing good money after bad is the right move. Increasing height also increases time, which increases financing drag, which is already enormous.
 
Towered said:
I could swear that there's a condo tower in Chicago that was roughly 80% structurally completed when the plug got pulled on it a dozen years ago and it's been a hulking concrete shell ever since...

EDIT: I was wrong. It was called the Waterview Tower, and 26 stories were completed before it sat abandoned for 5 years before being completed as something totally different.
Click to expand...
The Chicago Spire (wikipedia) remains as a hole in the ground.
 
SonyPayStation said:
I see several comments on additional storeys being a great strategy. The land value here is maybe $300 PSF, and the risk is enormous to add more density when you still haven't sold nearly $1.4 billion of inventory. I'm not sure throwing good money after bad is the right move. Increasing height also increases time, which increases financing drag, which is already enormous.
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Not talking about adding storeys to the 91 already approved. That's settled. I'm talking about the number of floors above the 31 or so already completed that are likely to get built before interim financing runs out.
 
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