It's in Apple's best interests to look out for its own prospects. If Mizrahi really is in trouble, Apple's Plan B is to identify and target another location and take it from there. The One is definitely a prestigious address, but Apple doesn't have all its eggs in one basket and it's not doing itself any favors if it continues to tie itself to a (potentially) troubled project.

Having said that, I sincerely hope it works out and that Apple opens up a stunning flagship store here.
 
steveve said:
Lots of great info in that Globe article. Seems to be in line with the activity we saw around the ground floor over the past several months, including fast-tracking the installation of the glass panels at street level and the rumoured work on sidewalk restoration around Yonge and Bloor streets ahead of completion. Even Apple isn't immune to Toronto pre-con condo occupancy delays (😆).

I wonder if a construction canopy is next in the pipeline.
Image source: https://www.thestar.com/business/re...ondos_towers_now_citys_tallest_buildings.html

auraii.jpeg
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The project will be using a self climbing protection canopy system from Doka.
 
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LoMein said:
This project is done in its current iteration. It’s only a matter of time.

It will probably be sold to another developer and all the precon sales cancelled.
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I think this is highly likely. Mizrahi will bail out, get paid for the density, and the project will re-launch at $2,500+/SF and make a gazillion dollars.
 
Lenser said:
The One is definitely a prestigious address,
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Hardly. All the high end tenants (with exception of Holt's) exist west of Bay and north of Bloor. That's where a AAA tenant like Apple belongs, not alongside Nordstrom's Rack and Chic Filet. The One was doomed from the start and this is simply the final death blow.
 
RonThom said:
I think this is highly likely. Mizrahi will bail out, get paid for the density, and the project will re-launch at $2,500+/SF and make a gazillion dollars.
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This is common sense. But the buyers will put up a massive fight when they lose out.
 
LMVDR said:
Hardly. All the high end tenants (with exception of Holt's) exist west of Bay and north of Bloor. That's where a AAA tenant like Apple belongs, not alongside Nordstrom's Rack and Chic Filet. The One was doomed from the start and this is simply the final death blow.
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You’ve been calling this one to die for years now. First it wouldn’t get permits, then it wouldn’t get above grade, now apple will pull out.

Apple is perfectly in good company with adjacent tenants like Aritzia, Zara, Eataly, etc. this stretch of Bloor isn’t as elite as the part west of Bay, but it’s not some back water slouch either. And Mizrahi clearly got its moneys worth out of the lease with Apple for this space to build it the way they are.

Apple will also likely do a surprisingly good job of shifting the focus of the street further east, in addition to what the manulife centre has already done.
 
LMVDR said:
Hardly. All the high end tenants (with exception of Holt's) exist west of Bay and north of Bloor. That's where a AAA tenant like Apple belongs, not alongside Nordstrom's Rack and Chic Filet. The One was doomed from the start and this is simply the final death blow.
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Oh please. Apple Upper West Side in NYC is across the street from The Gap. If anything the 1 Bloor West site is better than west of Bay, as it gets more foot traffic.
 
LMVDR said:
Hardly. All the high end tenants (with exception of Holt's) exist west of Bay and north of Bloor. That's where a AAA tenant like Apple belongs, not alongside Nordstrom's Rack and Chic Filet. The One was doomed from the start and this is simply the final death blow.
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Holy Hyperbole! Where's Batman where you need him - a citizen's arrest is desperately needed!
 
thaivic said:
Nowhere do you see The One or Mizrahi mentioned.
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PwC is actively looking into Mizrahi's debt.

Jenny Coco has invested 30m equity + 90m loan in this project.

Jenny Coco funded Mizrahi's first deal when his fraudster business partner who stole millions of dollars from Iran got his assets frozen.

The debts from Mizrahi's initial projects have been unpaid for 10 years now.

It's not hard to make connections here.

I love Mizrahi as a person, but as an entrepreneur, he's been involved in a lot of shady stuff. Who would knowingly take money from someone that was convicted in a billion dollar banking fraud in Iran and use that money like nothing happened? Same thing happened with Dove Cleaners. Investors got burned. Mizrahi walked away.
 
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