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Oct 20, 2023 · CityNews (H/T iPhone in Canada) reports that Apple is officially off the project: Apple Inc. was reportedly slated to open its flagship store on the main floor of The One’s retail space.
Oct 20, 2023 · Apple has terminated its lease for retail space in Toronto’s troubled ‘The One’ development, according to newly filed court documents. The luxury condo and retail project, located at Yonge and Bloor Streets, was pushed into receivership due to construction delays and a debt of $1.6 billion.
Feb 28, 2024 · In one of the earliest public signs that the project’s prospects were souring, Apple initiated a contract termination request with The One in 2020, citing construction delays. Apple’s withdrawal left more than 15,000 square feet vacant, including over 9,000 square feet of ground-floor retail space.
- Why Would Apple Want to Pull Out of The One?
- Why Did Mizrahi Go to Court?
- What Happens to The One If Apple Pulls out?
- How Will Local Area Businesses Be Affected?
- Where Do Things Now Stand Now Between Apple and Mirhazi?
The Globe and Mail reported on Feb. 13that Apple informed Mizrahi it may exercise an option in the lease that supposedly allows the American tech company to exit without financial penalties if the developer does not meet certain projects deadlines. Craig Patterson, founder and co-editor-in-chief of online retail publication Retail-Insider.com, said...
Apple stores are magnets for consumers and the ground floor Toronto flagship store would likely attract huge crowds to the building and the surrounding neighbourhood. Mizrahi said in the court submission that if Apple pulls out The One would “suffer irreparable harm from losing a world-class tenant intended to be an anchor tenant for a world-class ...
“It would throw a monkey wrench in the project” as London-based architects Foster + Partnersspecifically designed the space for the Apple store, Patterson said. However international chain stores can afford the rent. Uniqlo, Nike, Under Armour, even a “massive Lego store” are all possible candidates for the space. “Big multi-national retailers, but...
Briar de Lange, executive director of the Bloor-Yorkville BIA, said in a phone interview that one way or another nothing changes the fact that Bloor Street is “Toronto’s high street.” “If a deal falls through it will not negatively impact pending deals. Other landlords are still doing deals,” she said. “The street has demand tract.” De Lange said t...
The court has not issued a judgment and it is unknown whether the parties are near resolving the case out of court.
Feb 13, 2022 · A paywalled news report on Sunday evening in the Globe & Mail says that Apple may pull out of a mixed-use project called The ONE in downtown Toronto due to delays. Apple had reportedly leased much of the commercial podium of Sam Mizrahi’s tower project at the southwest corner of Yonge & Bloor Streets and litigation has revealed some ...
Dec 6, 2023 · The One has now crossed the 150m hight threshold at Bloor and Yonge streets in the heart of Toronto. Now a skyscraper, it has supertall status as the eventual goal. We catch up with the ongoing construction from over the course of November, 2023.
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Oct 20, 2023 · – Apple pulled out of its deal to open up a flagship store in the space formerly occupied by Stollerys, and developers haven’t been able to find a replacement retail tenant. “In short, it’s a...
