Looks like we may get updated drawings soon in a re-submission: https://storeys.com/mizrahi-toronto-the-one-sales-process/
They're now targeting completion for the second half of 2027. Just embarrassing - a decade of construction for a building that's barely above 300m. Crosslinx could've completed this project faster. As noted in the article, I do hope they end up breaking up the upper floors into more units
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I have a very strong feeling that we will actually get the 91 stories here is hoping because this building would look a lot better in that configuration than the 85 those six floors just make it look so much more uniform
I suspect there is a few here that would of liked that for the extra schadenfreude, lol. However, I am glad to see that the receiver has reasonably concluded that there is more money to be settled and had in completion of this tower, whether it be at 85 or 91 stories. /shrugThe economics of this project appear to be so staggeringly poor that I'm amazed the lender hasn't ceased funding and capped construction until a buyer is found.
Man, what I'd give to see the original proforma that Mizrahi presented to the lenders. It would be a damn good laugh!The economics of this project appear to be so staggeringly poor that I'm amazed the lender hasn't ceased funding and capped construction until a buyer is found.
The idea of reducing average size of the upper floors from 69 units at 2600 sf to 157 units at 1142 sf seems like a desperate plan.
The buyer for a unit on floor 70 something is likely seeking luxury. Luxury usually entails larger spaces to entertain.