Toronto One Bloor West | 308.6m | 85s | Tridel | Foster + Partners

This
Start Fox said:
Some tidbits from the court filings:
1. The project has recently lost its anchor retail tenant (i.e. Apple is out). No replacement yet.
2. Estimated completion date is currently March 2025.
3. Estimated budget is now over $2 billion.

But to be clear, as ChesterCopperpot posted above, construction is continuing and as of now the building will be finished.
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damn about Apple. Was looking forward to that.

The key is that it doesn't end up a half-finished hulking mess for a few years until it can be sold and development restarted in some capacity. It's good to see it'll continue.
 
Pretty incredible that, despite all the Mizrahi-boosting, it turns out that most people were correct about their operations being a complete fiasco.
 
Start Fox said:
Some tidbits from the court filings:
1. The project has recently lost its anchor retail tenant (i.e. Apple is out). No replacement yet.
2. Estimated completion date is currently March 2025, but that the realistic date is July 2025.
3. Estimated budget is now over $2 billion.

But to be clear, as ChesterCopperpot posted above, construction is continuing and as of now the building will be finished.
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would that not mean the average PSF needs to be north of $2,400 just to break even.... it is NO WHERE near that level
 
jibsta said:
would that not mean the average PSF needs to be north of $2,400 just to break even.... it is NO WHERE near that level
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Interestingly the filings also say that 346 residential units have been sold totalling $675 million. 70 remain unsold, all above the 50th floor so presumably will go for a premium. I'm not sure of the economics of the retail, hotel, and commercial components but ya, that seems like a big gap.
 
toronto_cyclist said:
Pretty incredible that, despite all the Mizrahi-boosting, it turns out that most people were correct about their operations being a complete fiasco.
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I wouldn't agree with that. I'd be surprised if rising interest rates, being on the brink of recession and a post-covid move away from "luxury" doesn't play a much bigger part in all of it than Mizrahi's operations themselves.

The anti-Mizrahi doom-and-gloom was already well under way long before breaking ground.
 
Wasn't the whole complex design of the lobby based around Apple being the anchor tenant there? If so, what a waste of all the complicated work for nothing.

I certainly hope we don't end up with a bank, Shoppers or even Dollarama filling in that space going forward.
 
I don't think it's out of the question that the fruit store may come back to the table with this now in receivership and under court oversight - at the least this will result in more certainty around timelines and eventual completion which I'm sure they were lacking before based on previous filings
 
westtoeast said:
I don't think it's out of the question that the fruit store may come back to the table with this now in receivership and under court oversight - at the least this will result in more certainty around timelines and eventual completion which I'm sure they were lacking before based on previous filings
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Alternatively, 'Good Life' could relocate from the Manulife Centre........... LOL *Ducks*
 
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