The One....That Almost Wasn’t.

Tridel brings its trusted expertise to One Bloor West, an 85-storey landmark community at Yonge and Bloor, Toronto, Ontario.

Toronto Real Estate—the only place where a 500-square-foot condo costs more than a small castle in Europe, and still sells out in a weekend. But every now and then, a project can still go sideways. Re: One Bloor West (a.k.a. The One). Canada’s first “super tall” condo tower, and easily the city’s most glamorous real estate meltdown.

Picture it: 2017. Fidget spinners were a thing, and construction began on what was supposed to be an 85-storey, $1-billion masterpiece. By 2023, the budget had ballooned to $2 billion and the timeline was toast. Toronto’s tallest condo had officially become Toronto’s tallest financial headache. This my friends, is what we call....Receivership.

When no one else wanted to touch the project (and who can blame them) — building Canada’s tallest tower mid-housing crash is not for the faint of heart. The court tapped Tridel. If developers were superheroes, Tridel would be the reliable one—calmly showing up to fix the chaos. As of May 2025, Tridel is now the official development manager, construction manager, and sales manager of The One.

Tridel wasted no time making changes. With a New name, comes new life. No more Mizrahi drama. The project is now branded simply, as One Bloor West. And yes, buyers will actually get warranty protection through Tarion this time. The Unit count was trimmed to 476 units, making the layouts more functional for end users, and not largely catered to Investor buyers. The original Hotel Operator with Hyatt was also scrapped. A new luxury operator is TBD. The original plan for the highly visible ground floor retail space was to have Toronto's new Apple Store move in to a space designed by Foster and Partners. In March 2022, Apple launched a lawsuit to terminate its lease agreement with Mizrahi Developments, and claimed $6.9 million in delay damages, expressing "profound disappointment" with original developers in regards to missed deadlines. As of now, the space is without a tenant following receivership.

Despite the drama, the building itself is… actually going up! As of spring 2025:

Floors are up to level 81 (out of 85) and occupancy is now projected for 2027, which in Toronto construction years is basically right on time! The One, was supposed to symbolize Toronto’s rise as a global city. Instead, it became a cautionary tale of chaos, debt, and fuelled the fire for Pre Construction haters, but with Tridel taking over, I am certain this development, and their story will have a happy ending.

Toronto’s tallest condo might have gone through receivership, lawsuits, and more plot twists than a telenovela, but soon enough, you’ll be able to look up at Yonge and Bloor and say: “That’s the tower that almost didn’t make it.”