Toronto The One | 308.6m | 85s | Tridel | Foster + Partners

khaldoon said:
The term “Value Engineering” appeared multiple times. I know it makes sense for a receiver trying to cut cost as much as possible but ultimately wouldn’t value engineering lower the value of what you are trying to sell ?
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It may; but keep in mind, there will be no change to the exteriors at this point, which is the largest chunk of 'sizzle' for the building, along with upper floor views.

Also, it's not as if a building in this pricing category is likely to drop fit and finish down to laminate counter tops and vinyl floors, that's just not a winning strategy.

The single biggest value get here is cutting down on larger units in favour of smaller ones, which, in general, will produce higher per ft2 revenue.

Other changes will likely be unseen by an end owner, (behind the walls), or the way in which construction is literally managed.

There may be some 'cheapening' of some unit interiors from luxury to middle.........we'll have to wait and see.
 
Additional tidbits from Storeys: https://storeys.com/tridel-builders-the-one-mizrahi-completion/

The Receiver also notes that the existing agreement with Hyatt Hotels of Canada Inc. to operate what was going to be known as the Andaz Toronto - Yorkville will be disclaimed and that a new operator will be selected.
...
The Receiver did not identify an estimated completion date for the project in its December update, but previously estimated in November that The One would be completed in the second half of 2027.
 
From this morning Dec. 12th

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I mean we are basically returning to the original approval, minus some of the mega-units on the uppermost floors. The units up there are unlikely to be small, "ryanair" type units still.. just not 2-4,000 sf mansions in the sky. I imagine they are dividing them up into more manageable ~1,000sf 2-bed units.

Ultimately even at 86 floors this will be taller than any other building in the City. It may be a bit disappointing to lose the top 5 floors, but it's not like the building turns to crap because of it.

Tridel also does absolutely excellent interior finishes and construction quality, despite it's reputation for exterior design direction and it's preference for Kirkor.. Luckily in this case, the exterior design direction is already "locked in" and is not up to Tridel to change. They will deliver their signature, high quality interior design I'm sure for end purchasers here.

If I was a purchaser I would be pretty happy that the project ended up in Tridel's hands.

As to why they aren't pursuing 91 storeys - as far as I know, Mizrahi got the ZBA approved for the change, but never amended the Site Plan before losing control of the project. For whatever reason, I guess Tridel / Skygrid did not care to pursue the site plan modifications required.
 
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innsertnamehere said:
I mean we are basically returning to the original approval, minus some of the mega-units on the uppermost floors. The units up there are unlikely to be small, "ryanair" type units still.. just not 2-4,000 mansions in the sky. I imagine they are dividing them up into more manageable ~1,000sf 2-bed units.

Ultimately even at 86 floors this will be the taller than any other building in the City. It may be a bit disappointing to lose the top 5 floors, but it's not like the building turns to crap because of it.

Tridel also does absolutely excellent interior finishes and construction quality, despite it's reputation for exterior design direction and it's preference for Kirkor.. Luckily in this case, the exterior design direction is already "locked in" and is not up to Tridel to change. They will deliver their signature, high quality interior design I'm sure for end purchasers here.

If I was a purchaser I would be pretty happy that the project ended up in Tridel's hands.

As to why they aren't pursuing 91 storeys - as far as I know, Mizrahi got the ZBA approved for the change, but never amended the Site Plan before losing control of the project. For whatever reason, I guess Tridel / Skygrid did not care to pursue the site plan modifications required.
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That exterior reputation is also outdated, most of their work the last 5 years has been nice, with some standouts like the Well and Aqualuna
 
innsertnamehere said:
I mean we are basically returning to the original approval, minus some of the mega-units on the uppermost floors. The units up there are unlikely to be small, "ryanair" type units still.. just not 2-4,000 sf mansions in the sky. I imagine they are dividing them up into more manageable ~1,000sf 2-bed units.

Ultimately even at 86 floors this will be taller than any other building in the City. It may be a bit disappointing to lose the top 5 floors, but it's not like the building turns to crap because of it.

Tridel also does absolutely excellent interior finishes and construction quality, despite it's reputation for exterior design direction and it's preference for Kirkor.. Luckily in this case, the exterior design direction is already "locked in" and is not up to Tridel to change. They will deliver their signature, high quality interior design I'm sure for end purchasers here.

If I was a purchaser I would be pretty happy that the project ended up in Tridel's hands.

As to why they aren't pursuing 91 storeys - as far as I know, Mizrahi got the ZBA approved for the change, but never amended the Site Plan before losing control of the project. For whatever reason, I guess Tridel / Skygrid did not care to pursue the site plan modifications required.
Click to expand...
Come to think of it the 91 floor version would’ve stood out way to much so maybe 85 would look a bit better on the skyline 💁
 
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