Koops65

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Some whatnot:

Toronto Model 09-30-21 The One.png
 

TheTigerMaster

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I'm sure he's getting some sort of return here, but yea, probably not a great one. I'm not sure that's ever been his aim though.

The nature of development has always been that some projects make money head over heels and some don't, that's just the way it is. (Projects like King Toronto are plowing in the cash, while 159SW is probably losing money for Alterra, etc.).

Normally this isn't a big deal as most developers can handle a poorly performing project, but this project is such a leap up for Mizrahi from what he has otherwise been doing, it may be challenging.
We're all speculating, of course... but is it fair to assume that the presumed poor financial performance of this project has more to do with the early delays, than it does with the architectural flourishes?
 
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TossYourJacket

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We're all speculating, of course... but is it fair to assume that the presumed poor financial performance of this project has more to do with the early delays, than it does with the architectural flourishes?
Yeah, "time is money" would be the actual issue here. Not "if it was just a grey spandrel tower it would make way more money!" Contractors, equipment rentals, sidewalk permits (although those are basically a joke), etc are all adding up the longer this project goes on. Not having the above-grade permit for months after it was needed is probably the single biggest financial issue this project has faced due to all the interest costs on the financing.
 

architecture fan

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Below is a link to the last remaining penthouse for sale for about $31M, showing the residents' rooftop terraces, which I had not seen before.



Rooftop Terraces at The One.JPG
top of The One.JPG
 

Stec

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For those that bought penthouses what happens if The One get's the approval on the height increase? Do these penthouse owners get an email saying sorry your unit is no longer at the top of the tower sorry about your luck lol. Are they offered first dibs and a chance to pay even more money to buy the new penthouse level? Or would they just automatically be upgraded to the new penthouse level and what was originally their floor and surrounding new block of floors go up for sale to the general public? 🤔
 

madknife

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Below is a link to the last remaining penthouse for sale for about $31M, showing the residents' rooftop terraces, which I had not seen before.



View attachment 352649View attachment 352650
Lolwat?!
The penthouses were originally listed for $16.9m during the launch back in 2018… and that was $3k/sq ft…
Really doubt its value doubled in the last 3 years…
pricelist.png
 

UrbanOzz

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C-mac

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So, Sam Mizrahi has just hired a new lobbyist/consultant for the purpose of getting the requested height increase here.

From the Lobbyist Registry:

Details for Subject Matter Registration: SM32374​


Decision(s) or issue(s) to be lobbied

1-11 Bloor Street West and 768-784 Yonge Street - Zoning By-law Amendment request for increased height.

If a approved, this building would be 9th tallest building if it were in NY. Not too shabby.
 

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