steveve said:
"It's the interior finishes that they're changing," Mizrahi said. "That, to me, is as fundamental as the exterior, especially for people who are buying at over $3,000 a square foot, right? This is the most expensive, highest real estate in Canada at the most prominent corner. This is not a formula-built building or a cookie cutter building. This is a high-end, luxury icon."
Click to expand...

Propping up the value of the Mizrahi brand for future projects isn't a concern of the creditors: they'll deliver to the letter of the purchase agreement.
 
xy3 said:
I dont think it's legal to substantially cheapen pre-construction units that have already sold. You can't promise full size luxury kitchen with a gas range and then switch it to kitchenette with an electric hotplate at the last second. If it was legal youd see loads of new fly-by-night developers popping up and pulling that bait and switch constantly.

But I think it's reasonable to replace the unsold units with cheaper quality studio/1 bed investor units. Yes, it would cheapen the exclusivity of the building, but at least those who have purchased wont have their actual units downgraded. Common areas would also be subject to cheapening.
A height decrease wouldnt make sense financially. The only way to reduce the loss of this building is to add as many entry level units as possible.
Click to expand...

steveve said:
More comments from Mizrahi via Storeys: https://storeys.com/mizrahi-forced-out-the-one/

Under the new construction manager, no changes will be made to the outside of the building, Mizrahi says, noting that the skyscraper's hybrid exoskeleton is already more than halfway done, built up to the 53rd floor with 38 storeys left to go.

"It's the interior finishes that they're changing," Mizrahi said. "That, to me, is as fundamental as the exterior, especially for people who are buying at over $3,000 a square foot, right? This is the most expensive, highest real estate in Canada at the most prominent corner. This is not a formula-built building or a cookie cutter building. This is a high-end, luxury icon."
Click to expand...


Probably a non-issue, as it's likely just a matter of time until the current pre-construction unit holders are either "invited" to pay up to match the current market price of their unit or have their APS cancelled, so their unit can be resold at the current market price. It's my understanding that the removal of the original developer, with whom the APS was entered into, is a prerequisite for said actions. In my opinion, that's their plan.
 
steveve said:
More comments from Mizrahi via Storeys: https://storeys.com/mizrahi-forced-out-the-one/

Under the new construction manager, no changes will be made to the outside of the building, Mizrahi says, noting that the skyscraper's hybrid exoskeleton is already more than halfway done, built up to the 53rd floor with 38 storeys left to go.

"It's the interior finishes that they're changing," Mizrahi said. "That, to me, is as fundamental as the exterior, especially for people who are buying at over $3,000 a square foot, right? This is the most expensive, highest real estate in Canada at the most prominent corner. This is not a formula-built building or a cookie cutter building. This is a high-end, luxury icon."
Click to expand...
I'm glad that nothing will be done to the exterior/exoskeleton of the building. I am also relieved that this project is progressing as planned. It would be a total waste if it stopped abruptly like some projects did in China.
 
steveve said:
More comments from Mizrahi via Storeys: https://storeys.com/mizrahi-forced-out-the-one/

Under the new construction manager, no changes will be made to the outside of the building, Mizrahi says, noting that the skyscraper's hybrid exoskeleton is already more than halfway done, built up to the 53rd floor with 38 storeys left to go.

"It's the interior finishes that they're changing," Mizrahi said. "That, to me, is as fundamental as the exterior, especially for people who are buying at over $3,000 a square foot, right? This is the most expensive, highest real estate in Canada at the most prominent corner. This is not a formula-built building or a cookie cutter building. This is a high-end, luxury icon."
Click to expand...
It's also great that The One will remain 91 storeys tall when completed.
 
...at the end of the day though seems like a win/win for everyone here. That is, anti-Mizrahi brigade got their removal/demise of their favorite whipping boy and the rest of us are getting our champagne supertall in the sky. So it's less axe-to-grind trolling and more construction pics from here on end. <3
 
Too windy to get much further work done at the top today but it's great that they started early, before the weather took a turn:

20240228_102251.jpg
20240228_122929.jpg
20240228_122933.jpg
20240228_122942.jpg
20240228_124034.jpg
 
Speaking of which, will title thread change now Mizrahi is no longer the developer here, @Paclo? Or how does that work now?
 
Said no person ever investing in technology. People who don't try are doomed to failure. Test your limits, accept your failures. Grow as a person. This just happened to be one massive failure but the man is not dead. He can still come back from it. Every failure has a lesson. Every success has a failure
 
Collingwoodbuildinglover said:
Every failure has a lesson.
Click to expand...

Maybe the lesson is Mizrahi shouldn't be a developer no more. Maybe the lesson is he should try something else.

You make it sould like failure leads to success as long as you understand why you failed. I'd love to see the statistics on that.

Maybe you fail and go on to succeed. But more likely you fail and then fail again and again and again and just never really make it.

Collingwoodbuildinglover said:
People who don't try are doomed to failure.
Click to expand...

Sure but reverse of that is not, if you try you will succeed. You could try your whole life and never really achieve your dream. That's most people.

What you've said is like saying, "You can't win the lottery if you don't play." True, but playing also won't mean winning for like 99.99999999% of people.
 
Last edited:
You must log in or register to post here.

Back
Top