Part 1 of 2 taken on August 25, 2024:

Bay and Cumberland:

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Balmuto Side:

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Back Alley:

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Bloor Side:

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marcus_a_j said:
The AIC website still has supporting documentation for the taller building. https://www.toronto.ca/city-governm...ils/?id=4855702&pid=230049&title=1-BLOOR-ST-W

Unfortunately the City replaced all the architectural plans with only 3 sheets (which are still the 94-storey plans from Dec 2020).
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There will be no need for whoever the new developer is (if one is found) to resubmit new plans to the City if all they are going to do is build a shorter version of what is already allowed. What you see in the AIC are documents seeking zoning approval to go X storeys high, but there's no requirement by the City to get to that height or density in the end. We just have to wait to see if there will be a change of ownership, and if so, what direction the new owner wants to go, or whether KEB Hana Bank will become the de facto developer themselves and what decisions they will make.

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interchange42 said:
There will be no need for whoever the new developer is (if one is found) to resubmit new plans to the City if all they are going to do is build a shorter version of what is already allowed. What you see in the AIC are documents seeking zoning approval to go X storeys high, but there's no requirement by the City to get to that height or density in the end. We just have to wait to see if there will be a change of ownership, and if so, what direction the new owner wants to go, or whether KEB Hana Bank will become the de facto developer themselves and what decisions they will make.

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Click to expand...
Did they get the site plan amendment finalized before the bankruptcy for the taller version?

They would need a site plan amendment if Mizrahi finalized the site plan for the 94-storey version prior to bankruptcy. If it wasn't yet finalized, they could just stop pursuing the amendment. Correct that zoning does not get in the way.
 
innsertnamehere said:
Did they get the site plan amendment finalized before the bankruptcy for the taller version?

They would need a site plan amendment if Mizrahi finalized the site plan for the 94-storey version prior to bankruptcy. If it wasn't yet finalized, they could just stop pursuing the amendment. Correct that zoning does not get in the way.
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The 91-storey version was fully approved, the 94-storey version was not (so six more storeys were granted, not the nine they were after).

In the meantime, while there have been major financial issues, there has been was no bankruptcy. The receivership was triggered by Mizrahi as partner Jenny Coco was refusing to sign on for any further borrowing to complete the building. Mizrahi saw the receivership as the only way to break the impasse, but once in control, the receiver wanted a more thorough house-cleaning than Mizrahi intended, hence the project is up for sale. It's yours for $1.2B (plus I assume some associated debt?)!

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biospherian said:
Man, they need to hire some landscape architects... That's an awful street-level design that shouldn't be allowed for somewhere like downtown Yonge.
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They're not doing anything special along this stretch of Yonge at the moment until the long delayed remake of the entire street gets underway. So yeah, they've got a plan, they just need to get going on it.

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