This $1.7B Toronto Skyscraper Has Been ABANDONED & Left To ROT

There is a skyscraper in downtown Toronto right now that owes more money than some countries produce in a year. The One at 1 Bloor Street West was supposed to be Canada's first supertall building — an 85-storey luxury tower designed by Foster + Partners at the most iconic intersection in the city. Instead, it became the single largest real estate insolvency in Canadian history. In this documentary, we break down the full story of how developer Sam Mizrahi demolished a 114-year-old heritage building on a Saturday morning, promised the tallest residential tower in the country, attracted billions in foreign capital from South Korea and China, secured Apple as an anchor tenant, listed a penthouse at nearly $4,000 per square foot — and then watched it all collapse. Cost overruns pushed the budget from $1.4 billion past $2 billion. His business partner Jenny Coco became entangled in the Bridging Finance scandal, one of the largest investment fund collapses in Canadian history. Apple sued and walked away. KEB Hana Bank was left holding $1.2 billion in defaulted loans. And in October 2023, the Ontario Superior Court placed the entire project into receivership with the tower stalled at just 40 storeys. Now renamed One Bloor West and under new management by Tridel, 314 of the original 329 condo presale contracts have been cancelled. Over $105 million in buyer deposits are being returned. Lenders are owed more than $2.1 billion. And the tower that was supposed to be a landmark has become a warning about what happens when ambition outruns reality. 📌 Topics covered: The Stollerys demolition controversy at Yonge and Bloor Sam Mizrahi's rise from dry cleaning to luxury real estate The $300 million land purchase and Foster + Partners design Apple flagship store collapse and $6.9 million lawsuit Jenny Coco, Bridging Finance, and the $1.3 billion investor loss Mizrahi vs. Coco partnership breakdown $1.662 billion in secured debt and KEB Hana Bank receivership Tridel takeover, presale cancellations, and the road to 2028 🔔 Subscribe for more abandoned infrastructure, failed megaprojects, and construction disasters. #toronto #abandoned #skyscraper #theone #mizrahi #realestate #construction #megaproject #tridel #yorkville #condo #infrastructure #urbandecay #documentary