The Saga of The One: A Quick Recap
Once envisioned as a skyline-defining supertower, The One at 1 Bloor West has had anything but a smooth journey. First launched by Mizrahi Developments, the 85-storey skyscraper was pitched as Canada’s tallest residential building—a bold blend of engineering ambition and luxury living. But behind the glass and steel façade was a tangle of delays, financial missteps, and court filings.
As of early 2025, the project had stalled under the weight of creditor protection and management uncertainty. Buyers were left waiting, investors wary, and the site—though towering—was unfinished.
Enter Tridel – A Trusted Name in Toronto Real Estate
Now, the tide is turning. As of May 1, 2025, Tridel has officially taken the reins. The court-appointed monitor, Alvarez & Marsal, selected Tridel to act as development manager, construction lead, and sales partner for The One, replacing Mizrahi and its contractors.
For many, this news came as a relief. Tridel isn’t just another builder—they’re a Toronto institution. With 90,000 homes delivered over 90 years, their track record brings a much-needed sense of stability to a project that desperately needed it.
Through its affiliated firms (Deltera and Del Realty), Tridel is now steering the ship toward completion—with eyes set on restoring trust and momentum.
Construction, Sales, and the Road Ahead
So where do things stand now?
Construction-wise, The One has made significant progress. The concrete structure has reached the 81st floor, and the iconic curtain wall has climbed to level 58. The building will top out at 85 storeys (approximately 308.6 metres), making it the tallest residential tower in Canada.
Tridel is aiming for substantial completion by late 2026, with occupancy projected for early 2028.
Notably, the suite count has been revised once again. From an initial 415 to 503 under the receiver—and now to 476 units—Tridel is reworking layouts to reflect modern buyer expectations without compromising luxury.
And what about the luxury Andaz hotel that was supposed to anchor the lower floors? That deal is off. Tridel and its leasing partner JLL are actively courting new hotel and retail operators to fill the space, ensuring the tower lives up to its mixed-use promise.
What Tridel’s Takeover Means for Buyers
One of the biggest hurdles with The One was buyer confidence. With Mizrahi’s insolvency came fears around delivery, quality, and warranty coverage. Tridel’s takeover changes that.
Because Tridel is now managing the sales program under its Del Realty arm, suites at The One are once again eligible for Tarion warranty protection—a critical factor for cautious buyers.
For those watching from the sidelines, this move signals a return to credibility. The drama may have hurt the brand, but with Tridel at the helm, interest is already picking up.
Buyers who once walked away are circling back. Agents are talking. And if construction continues on schedule, 1 Bloor West might still become the landmark it was meant to be.
Buy Better with Our Team if you’re considering a unit in this revitalized tower—we’re tracking every twist and turn so our clients don’t have to.
Will The One Finally Live Up to the Hype?
While the story isn’t over, the narrative has definitely shifted. The excitement around Tridel’s takeover is more than just relief—it’s renewed hope.
Of course, big questions remain. Who will fill the retail and hotel space? Will ultra-luxury buyers return in force amid market softness? Can Tridel balance visionary architecture with practical delivery?
Time will tell. But for now, optimism is back on the menu—and The One is no longer a question mark, but a comeback story in progress.
Thinking about purchasing a unit at The One? Contact us or send us a message below to learn more about current availability and how we can help you navigate this exciting opportunity.
