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

Today, I read an article in the Toronto Star... The One has $1.9 B in hole! It does not look good. I think it's very slow to build up because they have to pay the pick up for more crane additional to make it higher, pay to the deliveries, pay to the policemen to control the street, pay to employers, pay to the workers, pay supplies of electricians, etc etc etc. $.1.9 would be paid off in 50 years who knows? Blame on the city hall of Toronto to approve in the first the place, did they?
 
Torontoemerald68 said:
Today, I read an article in the Toronto Star... The One has $1.9 B in hole! It does not look good. I think it's very slow to build up because they have to pay the pick up for more crane additional to make it higher, pay to the deliveries, pay to the policemen to control the street, pay to employers, pay to the workers, pay supplies of electricians, etc etc etc. $.1.9 would be paid off in 50 years who knows? Blame on the city hall of Toronto to approve in the first the place, did they?
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This is the most nonsensical comment I've ever seen on this forum. Doesn't warrant explanation.
 
Yes, the project has dealt with a lot of disarray, but at least they are still plannin' to finish it on time. It's not like the complex's been rottin' for the last six years at ground level; it's just been a VERY messy puzzle that will eventually get its shit together. In my honest opinion, it is better to do all this now than later when the complex is completed before some other wild shit starts to happen. Like the foundation begins to crack.Cough Millenium Tower, in SF Cough. At least they won't have to go to 91 storeys anymore. Sad, but it's for the better.
 
UtakataNoAnnex said:
For good or bad, this article is not the first to be saying that regarding the height change. But the two things I gleamed off of said article that maybe at play here: First that there was an indication of significant numbers of buyers who got spooked and bailed over this, so they don't have as much of the monied clientele in the pocket as they did before the insolvency shite hit the fan with Mizrahi. And secondly, the extra floors may have fell upon an extended contract that hasn't fully been sussed out or agreed upon yet. Meaning, it could be subject to cutting with little on no penalties on the road to recuperation and "let's get it done with!", or something like that...

This is not to say any this is true or factual here, rather how I am reading it and for what that's worth. As well as to say, I hope this all incorrect and they still going with the 91 in the end floors. But I guess we shall see.


Truncates is also a poor term here, as the crown will remain unaffected regardless of what height the building is decided upon in the end. You can safely go with a tad shorter, but stubby or truncated it will most certainly not be.
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Prospective buyers may have been able to bail out, but I doubt that pre-construction buyers who signed a contract can just back out of their contracts unless they're either prepared to lose their deposits or the counterparty actually breached the conditions of the contract. The Princess in the Toronto Star article must have been an exception - she got the royal treatment.

I think you make a good point about their pressure to get this project done asap and not having the buyers for the top floors. These are the most expensive floors, of course, and were already difficult to sell before the full extent of this mess was made public.
 
The other thing we are not thinking of is some developers very much think with their ego and not their brains we could see one of the other developers see this as an opportunity to have a building that rivals sky Tower and only do have to work approvals are there to have the competition and there are even existing plans that would be available to them I would think for a dollar building just my thinking
 
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EBT said:
In retrospect, the fatal decision made on this project was to have a column-free triple-height first-floor retail space to accommodate an Apple store. The complexities of building a super-tall tower over a column-free first floor probably doubled the cost of the tower and quadrupled the timeline and for what? In the end, Apple abandoned the project. Who is going to go into that first-floor retail space? A bank (TD?)? McDonalds? Shoppers Drug Mart? Winners? Dollarama? Who? Not only did this requirement add to the complexity and cost of the tower it also drastically reduced the attractiveness and convenience of the tower for potential condo owners who by necessity have to take an elevator up to a sky lobby to transfer to another bank of elevators up to their condo. No possibility of a private elevator for buyers of Penthouses costing over $20 million! If you could afford $20 million for a condo (or home), would you buy into a project like this?
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Some industry sources claim that Apple is still a possibility. It’s not over yet on that front.
 
Would they have to submit new permits to scrap the crown in favor of a cheaper flat roof/mechanical (at 328 m) , and therefore be able to squeeze in more floors of small mid-market investor boxes?

To me , this would make the more economic sense than capping at 306m, although I hope it's still 328 m and retaining the crown.
 
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