Troubled condo project The One fails to find a buyer, Tridel hired to finish development

Troubled condo project The One fails to find a buyer, Tridel hired to finish development

The luxury condo project in downtown Toronto will file for creditor protection after failing to find a buyer, and remaining construction will be financed by senior lenders

Tridel Selected as Development Manager to Complete The One

It was announced late yesterday that Tridel has been selected by receiver Alvarez & Marsal as the new development manager, construction manager, and general contractor for The One. The project has faced financial hurdles of late, with Alvarez & Marsal having been engaged by Mizrahi Developments to find a solution. Tridel’s role is set to begin following court approval and the finalization of agreements, anticipated in early 2025. Until that time…

Tridel Chosen To Complete Mizrahi's The One, Providing Glimmer Of Hope

After a months-long sales and investment solicitation process (SISP) that resulted in no bids to buy 1 Bloor Street West, as previously reported by STOREYS, Toronto-based real estate developer Tridel has been chosen to bring the troubled project to completion.Earlier this year, Matt Picken, Bryce Gibson, Vienna Loo, Jared Cowley, and Tyler Randa of JLL were retained by the court-appointed Receiver, Alvarel & Marsal, to list The One and the Ontar…