Mizrahi Developments’ The One
As Toronto’s skyline reaches higher, a project by Mizrahi Developments promises to bring a dramatic change.
The One, a supertall structure currently under construction, begs the question: Is this the future of Toronto’s downtown?
Located at the intersection of Yonge and Bloor, developer Sam Mizrahi believes The One will redefine urban living in Toronto. Once completed, it will be Canada’s first supertall building and one of the tallest buildings in the world, signifying a major leap in the city’s urban development.
The development is also reflective of Toronto real estate’s increased focus on high-end, luxury condos as a way to meet the demands of the city’s soaring popularity. For Sam Mizrahi, President of Mizrahi Developments, The One represents a natural progression of the city’s growth and a reflection of its increasingly global stature.
“Toronto is a world-class city,” Mizrahi said. “The One aligns with the city’s evolution and symbolizes its ascendancy on the world stage.”
Modern Design
The One is a collaboration between real estate development company Mizrahi Developments and world-renowned architectural firm Foster + Partners.
With large firms behind its construction, The One aims for both next-level engineering and modern architectural design. The building’s exoskeleton structure, which enables open-concept interiors by relocating structural and mechanical elements to the exterior, is designed to maximize space and provide panoramic views of the city.
Then there are the plethora of planned amenities, including retail outlets, luxury condominiums, and a boutique hotel. Like many modern developments, The One hopes to receive a LEED Platinum rating, the highest level of environmental certification, reflecting an increased consciousness about the need for sustainability in design.
While some critics argue that the construction of The One could lead to an over-saturated real estate market, proponents of the project see it as a catalyst for future developments. Many observers of the real estate market said the building could usher in a new era of super tall structures — one part of addressing the city’s growing population and limited land space.
“This model of vertical living could become the norm in the dense downtown core, offering a viable solution to the ongoing housing challenge,” Mizrahi said.
Impact on Real Estate Sector
Only time will tell if The One heralds a new future for Toronto’s downtown. But one thing is certain: The One Skyscraper has already made an indelible mark on the city, and its influence will be felt for years to come.
As a landmark development, The One sets a new benchmark for luxury in the GTA market. Residential units within the skyscraper are expected to attract high-net-worth individuals and investors, locally and internationally, who are looking for exclusive properties that offer a blend of prestige, comfort, and convenience, according to statements from leaders at Mizrahi Developments.
“It’s not out of the question that we’ll see an increased demand for such high-end properties,” Mizrahi said. “It could lead to an upward adjustment in prices within this segment of the marketplace.”
Big projects often signify more than just their base purpose.
In the case of The One, its construction boosts Toronto’s reputation as a place for world-class architecture. That can help foment increased foreign investments, infusing new capital into the market and potentially revitalizing other areas of the city’s real estate, including commercial and rental sectors.
As urban land becomes increasingly scarce, The One Skyscraper exemplifies the strategic approach of “building upward.” This could be a decisive factor in future urban planning and real estate strategies in Toronto, encouraging the development of more high-rise residential and mixed-use buildings.
“The One is not just another skyscraper,” Sam Mizrahi said. “It’s a transformative development that could have major implications for Toronto’s real estate industry.”
This content is a joint venture between our publication and our partner. We do not endorse any product or service in the article.
