18:34:40 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Apple CDR (CAD Hedged)
Symbol AAPL
Shares Issued 7,950,000
Close 2024-02-28 C$ 26.91
Market Cap C$ 213,934,500
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Post says Apple wasted no time avoiding The One mess

2024-02-29 09:24 ET - In the News

The Financial Post reports in its Thursday edition that the saga of the troubled condo project The One took another turn on Monday, when a court-appointed receiver announced it was removing developer Sam Mizrahi's company from its role as construction manager and announced the project may be put up for sale. The Post's Shantaé Campbell writes that one of Canada's most ambitious mixed-use developments, The One was pushed into receivership in October after a key lender said it would not provide additional financing. The planned 85-storey tower at the corner of Toronto's Yonge and Bloor streets has been beset by delays, financial troubles and allegations of infighting between its principals -- Mr. Mizrahi and partner Jenny Coco. The One was to encompass 416 condominiums, a 175-room Hyatt hotel operating under the boutique Andaz brand, retail shops and restaurants. The flagship retail tenant was going to be an Apple store. In one of the earliest public signs that the project's prospects were souring, Apple initiated a contract termination request with The One in 2020, citing construction delays. Apple's withdrawal left more than 15,000 square feet vacant, including over 9,000 square feet of ground-floor retail space.

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