Canada’s future tallest building is one big step closer to becoming a reality. The $1 billion THE ONE Condominiums by Sam Mizrahi received its official approval on April 18th at a formal hearing with the Ontario Municipal Board. Mizrahi Developments purchased the property at 1 Bloor Street West in October 2014 and obtained full city council approval on July 15th, 2016.
The OMB process involved negotiations with multiple appellants to address the issues and concerns of stakeholders. The settlements resulted in design changes including a lowered podium height, the addition of a green wall at the Balmuto entrance and other minor details.
“We went through the process very efficiently and successfully as there were no appellants at the board during the April 18th hearing,” says Sam Mizrahi, president and founder of Mizrahi Developments. “The recommended changes were also welcomed as they actually improved the building a great deal.”
With both city council and OMB approval, the highly anticipated residential project can officially commence with pre-construction preparations and residential pre-sales. The sales gallery is currently under construction and is anticipated to open to the public this September. The developer is also in the midst of obtaining all the necessary permits to start excavation, shoring and tieback installation, which Mizrahi expects to start in or before September.
When the project is completed in late 2022, THE ONE will become Canada’s tallest building and second tallest structure after the CN Tower. The 306.3 metre tower will rise 82 storeys above Yonge Street and Bloor Street West at one of the most high profile intersections in the city.
“This location is one of the most important corners of not only Toronto but in Canada,” says Mizrahi. “This development will serve Toronto to place it amongst other international world class cities in terms of architecture, design, and public realm.”
To help design the building, Mizrahi partnered with renowned British architect Norman Foster of Foster + Partners. The advanced structural engineering and innovative design techniques will see an exterior exoskeleton wrapped around the building in order to create unobstructed interior spaces free of pillars. The design allows for light-filled, jewel box-like retail spaces reminiscent of international flagship stores in New York City, Chicago, London and Paris.
“We chose Norman Foster because he really understood our needs and our vision in terms of creating an iconic building in Canada,” explains Mizrahi. “He also understood our retailers needs in terms of customizing the commercial spaces with no columns or pillars as well creating a world class lifestyle for our residents.”
The team at Norman Foster were also tasked with designing the interior spaces, amenities and suites. A total of 416 suites will be available for sale ranging from 600 square feet to 9,500 square feet. Like other Mizrahi projects, homeowners will have the option to move walls, combine spaces and truly customize layouts to suit their tastes and needs.
Residents will enjoy a five star boutique hotel type of experience with services like a 24-hour concierge, valet and security. There will also be over 10,000 square feet of outdoor amenities on the 10th floor including a party room, catering kitchen, event space, guest suites, spa, gym, lounge spaces and a heated infinity pool.
To learn more about THE ONE and receive updates on the opening of the sales gallery, be sure to visit onebloorwest.com/residential to register.
For more information on Mizrahi Developments, visit mizrahidevelopments.ca.