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It's a small change, but when it's such a pivotal building for Toronto development history, it's a big deal. Known until now as 'The One', the days-from-being-a-supertall currently under construction at the southwest corner of Bloor and Yonge streets — metres from where tens of thousands change subways every day — is now proceeding under the control of Tridel, who have subtly reworked the branding of the project, now to be known as 'One Bloor West.'
Eminent Toronto multi-unit residential industry player Tridel is now the development manager, construction manager, and sales manager for the 85-storey skyscraper that will briefly be Toronto's and Canada's tallest building. With its concrete core now within metres of surpassing the 300-metre-tall mark that will mark its status as a 'supertall,' the building will complete its rise at its initially approved height of 308.6 metres, and not the 91-storey, 328.4-metre-high version that was approved following a resubmission to the City. Previous owner Mizrahi Developments sought the height boost both as part of a height competition with Pinnacle International's SkyTower at One Yonge, and as a way to improve the financial situation of the project at 1 Bloor Street West that eventually triggered the process that resulted in the change of ownership of the building.
Designed by Foster + Partners of London and New York and Core Architects of Toronto, the building is set to house 476 condominium suites, a 172-suite hotel on the sixth through 16th floors, and five floors of retail, restaurant, and venue space at its base. The building, which is now scheduled for full completion in 2028, will be the first in Canada to cross the 300-metre-mark during construction, but may open after the 106-storey, 351.85-metre-tall Pinnacle One Yonge SkyTower, now also under construction about three kilometres to the south.
“While this vision did not originate with us, it is now entrusted to us,” Jim Ritchie, President and CEO of Tridel is quoted as saying in a press release. “We are dedicated to upholding our reputation for quality, innovation, sustainability, and community. Tridel will guide this landmark development to successful completion, ensuring it meets the high standards of luxury and excellence that are expected from a project of this caliber.”
The press release goes on to say that "Tridel has spent months working to prepare for a seamless transition and is ready to hit the ground running, moving completion of this project forward. Most critically, Tridel is focused on finalizing the project’s design, schedule and budget, as well as ensuring the required teams are in place."
In regards to the commercial space on the first sixteen floors of the building, the press release has this to say: "Tridel is working diligently toward securing a new luxury hotel operator and tenants for the retail and food and beverage spaces."
When UrbanToronto contacted Tridel on whether the purchase agreements made under the previous ownership would be honoured under the new ownership, they responded saying 'Tridel is currently working on a transition plan for the community, which is not expected to be completed for a number of months. Once complete, purchasers will be contacted directly."
UrbanToronto will continue to follow progress on this development, but in the meantime, you can learn more about it from our Database file, linked below. If you'd like, you can join in on the conversation in the associated Project Forum thread or leave a comment in the space provided on this page.
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