page_title: The One (Toronto)
section_title: Progress
hierarchical_section_title: The One (Toronto) / Progress
caption_attribution_description: English: The One construction site in May 2018.
context_page_description: The One is a supertall skyscraper currently under construction in Toronto, Ontario, Canada. When completed, it will be the tallest building in Canada. At 309 metres and 85 storeys, it will be taller than First Canadian Place, which has been Canada's tallest building since 1976. It will also be Canada's first supertall skyscraper, as defined by the Council on Tall Buildings and Urban Habitat. Construction of the building is expected to be completed by 2022 or 2023, with the retail space anticipated for opening in 2020. However, work on the building was halted in December 2019.
  Located in Toronto's Yorkville neighbourhood at the intersection of Yonge and Bloor, The One is across the street from the 257 metre tall One Bloor condominium building. It will also stand next to Two Bloor West, an existing skyscraper completed in 1972. The site of The One involved land assembly that includes properties at 768 Yonge Street, in addition to those at 1 and 11 Bloor Street West.
  Developer Sam Mizrahi acquired the land in October 2014 for CA$300 million. Mizrahi received approval from the city to build on September 12, 2016. The total cost for the project is reported to be $1 billion.
context_section_description: In June 2016, the city of Toronto’s planning staff gave a positive report on plans for The One’s development, including in their report a number of community benefit recommendations.  The report found that plans for The One met Toronto’s planning policies and guidelines.  On April 18, 2017, the project was approved by the Ontario Municipal Board (OMB). With approval both by the OMB and by Toronto's city council, pre-construction as well as pre-sales of The One's units began.  As of spring 2017, more than 3,000 people had pre-registered for the 416 residential units.
  In August 2017, The One secured its new round of lending replacing existing debt, with Firm Capital Corp. lending CA$135 million (US$108 million) as a first mortgage on The One.  In November 2017, The One's presentation centre opened for the first time for people who pre-registered.
  On August 23, 2017, construction of The One officially broke ground, with excavation nearly complete as of October 2018.  In November 2018, a special crane, the Link-Belt TG2300B, described by a source as potentially the highest capacity crane deployed in Toronto, was brought to the site to begin construction of the tower.  The creation of 32 mega caissons, which will be used to support the tower, was completed in April 2019.  On May 1, 2019, it was announced that The One will include a 160-room Andaz hotel, expected to open in 2022. 
  In September 2019, The One secured a new round of financing, with Korean fund IGIS Asset Management Co. Ltd. lending CA$560 million (US$423 million) to the project. In October 2019, a mock-up was installed to physically illustrate The One's brushed aluminum and glazing cladding.
  In December 2019, construction halted on the building. The City of Toronto issued a "stop-work order" on the site for repeated violations. Construction had proceeded to ground-level by that time and is not allowed to proceed until the work is reviewed and proper permits issued.
caption: The One construction site (foreground) in May 2018, with One Bloor in the background
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