Latest news with #Tridel
National Post
2 days ago
- Business
- National Post
On the map: Canada's first ‘supertall' building adds to suite count amid project review
When sales of condo units in The One were halted in 2023, less than a quarter of the troubled downtown megaproject remained unsold. Now that the 85-storey mixed-use building has officially become Canada's first supertall skyscraper by surpassing 300 metres in height, that number has risen to about one-third. Article content That isn't because any sales agreements have been rescinded. Rather, it's because Tridel has increased the total number of units from 416 to 476 after taking over from Mizrahi Developments as developer, builder and sales manager of the rebranded One Bloor West in May 2025. Originally launched as The One in 2016, construction of the tower has been hampered by various delays and financial complications that led to it being placed in receivership in October 2023. As of early July, Tridel had not set a date for restarting sales. Article content 'As part of the transition plan for this community, we've been conducting feasibility and efficiency studies so we can see how to best optimize the project to completion,' explains Tridel president and CEO Jim Ritchie. 'Part of this included identifying opportunities to reconfigure and improve the layouts of suites in some areas of the tower, and supporting a greater mix of suite types. This has raised the total suite count of One Bloor West from its original design.' Article content As was the case with The One, the 308.6-metre tower will still be home to a luxury hotel and extensive retail in one of the city's most prominent and transit-connected locations. 'World-class retailers' are currently being selected to occupy the building's six-level commercial podium, Ritchie says. The same goes for the new 'five-star hotel' that will occupy several floors between the podium and the condo units. (The previous intended occupant, ANDAZ, a luxury boutique hotel brand under Hyatt Hotels, bowed out in 2024.) Article content Article content Article content The residential side of One Bloor West is being redesigned 'with a clear understanding that today's buyers are looking for efficient layouts, quality finishes and access to amenities that genuinely enhance daily life,' Ritchie says. 'The market may be facing an adjustment, but the fundamentals haven't changed. People still want well-located, well-designed homes that offer long-term livability and support their lifestyle.' Article content While Tridel has stated that revised suite designs and updated finishes will be announced upon completion of the review, it has already outlined key components of One Bloor West's residential offering. These include fitness and wellness facilities, indoor and outdoor lounges, concierge services, dedicated residential access points separate from commercial and hotel components, and outdoor amenity terraces. Article content Given that 300 units have already been purchased, it is unlikely that unit features and finishes, as well as communal building amenities, will change markedly from what was slated for The One. Open-concept layouts will almost certainly predominate given that the building's hybrid structural exoskeleton minimizes interior obstructions. Suite owners who bought through Mizrahi were enticed by features such as nine- and 10-foot ceilings, custom built-in benches next to exterior glass walls, marble and stone countertops and backsplashes, and frameless glass-enclosed showers, and there's no reason to think much of that will change. The tower's location above the Bloor-Yonge interchange will undoubtedly facilitate direct access to both Line 1 and 2 of the Toronto subway system, while most of the Mizrahi-designed amenities — such as a concierge-staffed lobby, underground valet parking, an elevated garden terrace, a fitness centre, and various club rooms and event spaces — align with Tridel's component outline.
The Independent
16-07-2025
- Business
- The Independent
This building in Toronto has become Canada's first ‘supertall' skyscraper
Canada's skyline has reached a historic era, with a development in Toronto surpassing the 300-meter (984-foot) mark, making it the country's first "supertall" building. "Supertall" is a term used globally to describe skyscrapers that rise above 300 meters in height. Upon completion in mid-2028, cloud-scraping One Bloor West will have 85 stories and a height of 308.6 meters, or 1,012 feet. That's about four-fifths as tall as the Empire State Building. This behemoth won't, however, be Canada's tallest structure. That honor will remain with Toronto's CN Tower. It's 553 meters in height, or 1,814 feet, but doesn't count as a 'supertall building' because it's technically a freestanding communications tower. A building is classified as a structure with continuous floors from the ground up, a feature absent from the CN Tower. One Bloor West was designed by renowned Foster + Partners and Toronto-based Core Architects, and developed by Tridel. Core Architects said in a statement: "One Bloor West is now among an elite class of skyscrapers worldwide." And Foster + Partners described the skyscraper as a "bold new development" that will "set new standards for commercial and retail accommodation in Canada". The skyscraper is located at the border of downtown and the fashionable Yorkville neighborhood and will comprise 476 residential units on its upper levels, and hotel and retail floors lower down. The skyscraper will be topped by a series of luxurious duplex penthouses, accessed via a "sky lobby", which Foster + Partners says will have "sweeping views across Lake Ontario and beyond". Amenities will include a spa with fitness facilities, a library and a large south-facing terrace. "As the first supertall in the country, One Bloor West marks a pivotal moment not just for Toronto, but all of Canada," said Jim Ritchie, President and CEO of Tridel. "We are moving into a new era of development, marked by a level of ambition and engineering excellence not previously seen before. We're proud to be part of the team delivering a new landmark to Toronto's skyline and look forward to future buildings joining One Bloor West's supertall status." Tridel added that "construction continues to progress steadily, with major structural milestones now complete and interior work soon to advance across multiple levels". One Bloor West, however, won't be Canada's tallest building for long. SkyTower at Pinnacle One Yonge, under construction in Toronto's Central Waterfront neighborhood, will top out at 1,154 feet (351 meters) when complete, with views from the top at eye level with the CN Tower's observation pod. These new skyscrapers are both lofty, but far shorter than the world's tallest tower, Burj Khalifa in Dubai, which at 2,717 ft (828 meters) is more than double the height of both of them.
Newsweek
08-07-2025
- Business
- Newsweek
Canada's First-Ever Supertall Skyscraper Is Underway: 'Pivotal Moment'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Canada is officially welcoming its first ever "supertall" building in Toronto. Supertall skyscrapers are buildings that stand 300 meters (around 984 feet) or higher, according to the Council on Tall Buildings and Urban Habitat. The construction of Canada's One Bloor West building has now hit the 300-meter mark, officially becoming the country's first supertall building. Once completed, the skyscraper will be Canada's tallest residential building and its second-tallest human-made structure after the CN Tower. The structure has been designed by Foster + Partners, the architectural firm founded by British architect Norman Foster, along with Core Architects, and developed by the real estate group Tridel. The One construction on the South West corner of Yonge and Bloor continues in Toronto on March 11, 2024. The One construction on the South West corner of Yonge and Bloor continues in Toronto on March 11, 2024. Steve Russell/Toronto Star The building "has now reached its highest floor and has already become a reference point for Toronto's unique and distinctive skyline," Giles Robinson, senior partner with Foster + Partners, noted in a statement. "As the first supertall in the country, One Bloor West marks a pivotal moment not just for Toronto, but all of Canada," Jim Ritchie, president and CEO of Tridel, said in a statement. "We are moving into a new era of development, marked by a level of ambition and engineering excellence not previously seen before." Set at the border of Toronto's downtown area and the fashionable Yorkville neighborhood, One Bloor West will stand at 308.6 meters (around 1,012 feet)—or 85 stories—upon the completion of its construction. Consisting of 476 condominium suites, the building will be topped by a series of duplex penthouses offering sweeping views across Lake Ontario and beyond. The base of the building will retain the historic brick structures dating back to 1883 that pay homage to the legacy of the William Luke Buildings currently occupying part of the site, Foster + Partners noted in a statement. The residential floors will be "based on consistent 620-square-foot planning modules, allowing for flexible configurations throughout," the architectural firm said. The One construction on the South West corner of Yonge and Bloor continues in Toronto. March 11, 2024. The One construction on the South West corner of Yonge and Bloor continues in Toronto. March 11, 2024. Steve Russell/Toronto Star Tridel said the building's major construction work has been completed, with its interior work to begin soon across multiple levels. The building is slated to be completed by early 2028, with some occupancy expected to begin from the spring of 2027. The milestone reached by Canada's One Bloor West comes about a year after developers received the green light to proceed with the construction of the tallest building in North America—the Legends Tower—which will be set in Oklahoma City. With a planned height of 1,907 feet—surpassing the 1,776-foot tall One World Trade Center in New York City by 131 feet, once completed—the Legends Tower will also be the sixth-tallest building in the world. Construction is set to begin in 2026 and projected to be finished by 2030. Do you have a travel-related video or story to share? Let us know via life@ and your story could be featured on Newsweek.
National Post
30-05-2025
- Business
- National Post
2025 BILD Awards honour people and companies that shape the GTA
The building and development industry came together earlier this week to celebrate the 2025 BILD Awards. These annual awards recognize excellence in the design, construction, marketing, and sales of new homes across the Greater Toronto Area. The awards are also a time when our industry celebrates the people and leaders within our industry. Article content Article content Fifty-one experts from across North America took on the challenging task of determining the winners from the more than 700 entries — only some of which I can highlight here due to the limited space of this column. Please do visit for the complete list of winners. Article content The Home Builder of the Year, Mid/High-Rise category went to The Daniels Corporation while Great Gulf received the title of Home Builder of the Year, Low-Rise. Tridel captured Green Builder of the Year, Mid/High-Rise — this year marked the 14 th time the company has taken home the Green Builder of the Year Award. Great Gulf earned Green Builder of the Year, Low-Rise. Article content Caledon Station by ARGO Development Corporation was named Best New Community — Planned/Under Development while Fitzrovia's Elm-Ledbury was chosen Best Community, Built. Article content One Roxborough West by North Drive Investments won Project of the Year, Mid-High-Rise; Project of the Year, Low-Rise went to both Arista Homes and Great Gulf for their OAKPOINTE in Upper Joshua Creek project. Article content Best Purpose-Built Rental Project was bestowed upon The Rose Corporation for their The Bakerfield II project. Article content Brixen Developments' Exhale Residences was deemed the People's Choice, one of the most sought-after honours in the BILD Awards program. Article content Howard Sokolowski, Founder of Metropia, received BILD's Lifetime Achievement Award, the highest honour BILD can present a member. The award honours those who have dedicated a lifetime to the association and the industry and demonstrated remarkable leadership and commitment to the common good. Mr. Sokolowski has been at the forefront of Canada's development industry for over 30 years. One of the most trusted and influential industry leaders, he is renowned for building iconic communities that residents are proud to call home. Article content The Angelo DelZotto Fearless Innovator Award, presented to a member company committed to pursuing innovation in all forms, including processes, technologies, and products, with the intention of positively impacting people, communities, and business, went to Assembly Corp. Fitzrovia received the Stephen Dupuis Corporate Social Responsibility Award. Sam Condo, of Weston Flooring Ltd., was the recipient of the Ignat Kaneff Inspiration Award, which recognizes an individual or member company dedicated to mentorship and supporting newcomers to Canada. Adrian Rocca, of Fitzrovia, garnered the Riley Brethour Leadership Award for outstanding professional achievement and leadership in the industry.
Hamilton Spectator
11-05-2025
- Business
- Hamilton Spectator
Mark Carney promised half a million new homes a year within a decade. Here's what it would take to get there
'Ambitious.' A 'stretch goal.' A 'moon shot.' This is how players in the housing industry are talking about the housing targets proposed by Prime Minister Mark Carney and his fledgling government. Within a decade, the Liberals promised on the campaign trail to increase housing production to unprecedented levels — aiming to create the conditions for a half-million new homes to be built each year. In the thick of a housing crisis, industry players welcomed the ambition of this goal. But builders, analysts and academics alike are skeptical of whether it's feasible. They warn that a large swath of Canadian land is unprepared for housing, needing major infrastructure upgrades like sewers and water systems, and that jacking up the pressure too fast risks inadvertently inflating costs for labour and materials. An analysis of annual housing growth dating back to the 1940s, compiled by University of Toronto housing expert David Hulchanski and analyst Richard Maaranen, shows just how high the Liberals are promising to climb. Housing starts have never risen above 300,000 per year and, based on recent growth rates, their data suggests the Liberals will need to create the conditions for nearly 193,000 more homes to be built per year by the end of the decade. 'It certainly can be achieved if one is very serious,' said Hulchanski, arguing it would require building far more nonmarket housing to augment struggling private developments and address the deepest levels of housing need. But to planner and economist Daryl Keleher, one of the biggest challenges will be ramping up construction without creating new bottlenecks in the supply chain and spurring inflation: 'It's like turning the Titanic around.' A key challenge is a human one: who will build all these homes? Will there be enough electricians, carpenters, roofers and plumbers to spread across so many developments at once? While Carney's Liberals have suggested a wider adoption of prefabricated homes as part of their strategy, industry players say skilled labour is a key part of the puzzle. Jim Ritchie, president of homebuilder Tridel, says finding workers right now isn't an issue as the market is sluggish. But as soon as activity picks back up, skilled labour will become a hot commodity. 'We will need the workers,' Ritchie said, pointing to immigration as one way the workforce has been increased in past. Keleher believes any serious boost to homebuilding will not only require more workers, but massive productivity gains in the homebuilding sector to avoid cost inflations. 'You're going to have a real competition for the people who build the homes,' he said, as well as competition for materials such as lumber and steel, the cost of which is already a concern for builders amid the U.S. trade war. Right now, private builders are struggling to keep their existing developments chugging along, let alone start new ones. Housing analyst Mike Moffatt noted preconstruction purchases have all but 'evaporated' in the downturn. 'Just keeping pace, I think we should consider a victory,' he said. Tridel's Ritchie pointed out that their team currently has projects around Toronto, Mississauga, Markham and Richmond Hill in the pipeline. But they're struggling, like many other builders, to get them over the finish line. In Richmond Hill, Ritchie said their planned development would primarily offer new two-bedroom terraced suites, looking out over a ravine. 'We would love to get going,' he said. 'But today is not the day.' To jolt the market, two things have to happen, Moffatt said — consumers need to be able to afford the housing on offer, and builders need to see at least modest profits, otherwise development stays ground to a halt. When the cost to build is higher than consumers are willing to pay, the market stops moving. 'Prices are going to have to fall,' Moffatt said. 'There's no way around that. There's just too many people living with multiple roommates, or living in their parents' basements, who historically would have had their own place by now.' Moffatt argued elected officials should continue focusing on bringing down the fees charged to builders. Lowering the cost to build was essential, he said, because developers need to demonstrate profit margins to qualify for loans. This is where Hulchanski believes non-profit housing can play a bigger role. By backing non-profit developments with public money, more housing projects can be insulated from economic blows. Those kinds of housing projects don't, for example, require a certain amount of pre-construction sales before starting. He sees that as a more fruitful path than banking on a major drop in overall home prices, suggesting politicians would be unlikely to bear a serious decline in home values, knowing it would upset existing homeowners. 'I don't think the government will allow that to happen very long,' he said. Canada's preparedness for a firehose of new housing also depends on land. That means finding available space, whether vast open areas for subdivisions or infill space for condos. It also means ensuring infrastructure from roads to sewers are in place, or can be built out fast enough to meet the Liberals' goal. David Wilkes, president of the GTA-based Building Industry and Land Development Association, suggests this should be the first task on the federal government's list. By making immediate investments in infrastructure, he said officials could lay the groundwork for a bigger housing expansion. 'To me, that's a very big part,' he said, backing the idea batted around by officials at multiple levels of better using land already in public ownership. Keleher pointed out they'll need to get started soon to meet their goals: looking at other large development and planning efforts, he suggested a minimum of three to five years' work would be needed when an area needed serious infrastructure upgrades, such as a town that currently uses a septic or well system. Those upgrades are needed before housing can be built. While chasing the ambitious target, Wilkes hopes to see deliberate moves to ensure the resulting housing is what Canadians want and need, rather than solely what is easiest to build — such as studio-sized condos that have historically gained considerable investor uptake. He suggested governments at all levels implement more targeted incentives and exemptions for larger two-to-three-bedroom apartments, whether condominiums or purpose-built rentals, and invest in infrastructure to support lower-rise options such as stacked townhomes. While he considers the Liberals' half-million-home target as a stretch to the system, he's glad to see the pursuit: 'You never achieve anything without a goal.' This article was updated from a previous version that misspelled the surname of Tridel's president Jim Ritchie.
