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November 09, 2020 - Blog Article
Top Retailers Expected to Occupy Canada’s Newest Supertower in 2023

Photo Credit: Wikipedia

 

 

Currently under construction is Toronto's newest soon-to-be supertower, The One. The One was designed by architects Foster+Partners, which is famous for their exoskeleton designs, similar to the Gherkin in London, England. 

 

The One is set to offer limitless elegance as not only Toronto’s tallest tower, but Canada’s tallest skyscraper too. After pushing through months of delay, work has begun again on this ambitious 85-storey mixed-use project. 

 

History of the Site

Mizrahi Development is developing the One. The project has resumed construction after recently securing a conditional above-grade permit by the City of Toronto to continue the construction.  Before this, the construction was halted for eight months from December 2019 until August 31, 2020.

 

The One is being developed in the southwest corner of Bloor and Yonge Street, in Toronto, which is the same site as the once 114-year old men store, Stollerys.

 

Announcement of the longstanding menswear retailer Stollerys closing came right after Holt Renfrew’s unveiled their new men’s store at Bloor and Bellair. Their luxury brand is no match for the old school charm of Stollerys. 

 

The One ambitious industrial endeavor has eight super columns set into the bedrock of the development site that weighs 40 tonnes each. Each column will reach mega heights as the future ground retail space is taking shape.

 

What’s inside of Canada’s next Tallest Building?

The One will be 85 stories of luxury. It is set to be completed in 2023 and will house the new flagship Apple Store location on one of its dedicated retail floors. In total, the construction will include 18 floors of retail from ground up, 416 condos on the upper floors and the Andaz Hotel by Hyatt in the middle. The hotel is expected to have 160-guest rooms. 

 

The exterior of the building will have an exoskeleton design that is designed to protect and support this mega structure and it allows maximum exposure of sunlight to the interior spaces. The interior is expected to offer limitless elegance as each floor comes alive. This prime location in Yorkville in the city’s commercial and cultural center will benefit from this unique structure in the coming years. 

 

In Summary

The One will be a super tall skyscraper that will surpass the 76-storey neighbor One Bloor. Their ambitious plans during these times continue to demonstrate the importance of retail mixed with lodging, multifamily, etc. 

 

Retail is a vital component to a successful mixed-use real estate project. As more groundbreaking projects continue throughout the country there will be a trend of more mixed-use projects that allocates a portion of the project to retail.