The One | 338.3m | 94s | Mizrahi Developments | Foster + Partners

thaivic

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UtakataNoAnnex

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I would be careful with your accusations, nowhere did the Globe say that this project and all the people involved are dirty or that Toronto is a laundry machine for rich thieves.This loan was for 181 Davenport not 1 Bloor.
Thanks for answering my question in part then. /bows
 

Don Coyote

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Totally off topic but just something I realized:

This building is situated on One Bloor West and it's being called The One... I get the symbology with the 1s. So why not take it a step further? It's set to stand at 1110 feet... why not just make it a foot taller to 1111 feet?

It's the little things...
 

Riseth

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I really hope Apple reconsiders. A huge part of this development is having them at ground level. Not good if they pull out.
 

LoMein

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I would be careful with your accusations, nowhere did the Globe say that this project and all the people involved are dirty or that Toronto is a laundry machine for rich thieves.This loan was for 181 Davenport not 1 Bloor.
Jenny Coco is an owner of The One. She is dirty. Read the reporting on Bridging which she also owns.

Mizrahi is also involved in the fraud, as outlined in the article.

But court documents clearly show that Ms. Coco partnered with Mr. Mizrahi on his ambitious plans for The One the same year the loan was assigned. Ms. Coco’s family company is a 50-per-cent equity investor in The One, and Ms. Coco became an officer and director of the company that owns The One on the same day – Dec. 17, 2014 – the loan agreement between Mr. Mizrahi and the Sprott Bridging Income Fund is dated.

And yes Toronto and Canada are absolutely laundry machines for rich thieves:

Last year’s “National Criminal Intelligence Estimate on the Canadian Criminal Marketplace,” a report prepared by the federal Criminal Intelligence Service, reckoned the amount of dirty money finding its way into above-ground Canadian assets such as real estate every year at perhaps $133 billion.

Not really sure why you’re eager to defend crooks but to each their own. You probably think the Fortress Real guys are legit too lol
 
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LoMein

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Soooo...what does this mean for this current project? Are the creditors going to pull the plug on The One over this? Or will this be another chapter Mizrahi's history of "interesting" dealings...but it's business as usual for moving on with this project?
This project is done in its current iteration. It’s only a matter of time.

It will probably be sold to another developer and all the precon sales cancelled.
 

polesingularity

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Something of note from the article:

But the tech giant has told Mizrahi Developments it may exercise an option in the lease agreement that allegedly allows the retailer to exit without penalties if the developer misses certain deadlines, according to court documents filed by Mizrahi in Ontario’s Superior Court of Justice on Oct. 5, 2021.

So Apple's threat was made over four months ago.
 

UpwithOlives

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I really hope Apple reconsiders. A huge part of this development is having them at ground level. Not good if they pull out.
I would be surprised to see that happen. They certainly can’t be happy with the delays, and are probably using legal threats to keep the developer focused on finishing the areas of the site that impact them. Access, parking, mechanical systems, sidewalks and landscaping. Fairly certain they would expect to be open for the holidays.
 

Star Fox

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So Apple's threat was made over four months ago.
That's just when the court documents were filed. It actually sounds like the threat was made not long after Mizrahi told Apple the space would be delayed, which was over a year ago in December 2020:
In December, 2020, it told Apple that it would push out the delivery of the space to Oct. 31, 2021. Apple responded by saying it would exercise its rights to terminate the lease and provided a list of items it thought Mizrahi could not deliver.
The fact that Mizrahi has gone to court to stop Apple from leaving suggests this was (or, more likely, has recently turned into) much more than just a 'threat' though.
 

UtakataNoAnnex

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This project is done in its current iteration. It’s only a matter of time.

It will probably be sold to another developer and all the precon sales cancelled.
...that seems to be made with one part grain of salt and a large lug of personal opinion to me. /shrug
-----

Although the The Certain Fruit Store business is much more problematic...

So Apple's threat was made over four months ago.
...Apple is also notorious for throwing their weight around.

That said, this does suggest if the said Fruit store opens the relationship with Mizrahi will be a hostile one. That's not good...unless they work something out amicably by then. Let's hope so.
 

UpwithOlives

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Jenny Coco is an owner of The One. She is dirty. Read the reporting on Bridging which she also owns.

Mizrahi is also involved in the fraud, as outlined in the article.



And yes Toronto and Canada are absolutely laundry machines for rich thieves:



Not really sure why you’re eager to defend crooks but to each their own. You probably think the Fortress Real guys are legit too lol
It appears The Globe and Mail May have an agenda (shocking) and are selective with the facts presented. The report on money laundering seems like a nothing-burger. Lots of words by bureaucrats. Bad people do bad things in big cities, who knew? To extrapolate it to this project and the people involved seems unfair.
 

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