Latest news with #supertall
National Post
2 days ago
- Business
- National Post
Kelly McParland: How Toronto built a condo glut amid a housing shortage
Article content While agonizing over six-plexes, the city is eagerly filling its crowded core with a bevy of new towers so high they've been accorded their own descriptive. At least eight 'supertall' skyscrapers are in the works, the largest (for now) being the SkyTower at the very foot of Yonge Street on the Lake Ontario shoreline, in a neighbourhood once envisioned as a sort of waterfront oasis away from the downtown crowds, but long-since abandoned to forests of obstructive condo towers and office buildings. Article content SkyTower is just the first of six high-rises planned for an address that was previously home to the Toronto Star newspaper, traditionally a campaigner for a 'liveable,' low-rise city, but which decamped last year for a posh location a short distance away. Article content At 105 storeys, SkyTower is six storeys taller than 19 Bloor West, another 'supertall' planned farther north at the confluence of Yonge and Bloor, ground zero for high-end shoppers and fashionistas. That structure, in turn, is just down the street and nine metres taller than The One, a much-troubled 85-storey real estate catastrophe that's been through partnership battles, financial crises, creditor protection and high-wire legal warfare in the decade since it was announced as what would then have been the city's tallest condominium building. It's now being revamped and completed by a court-approved builder after failing to attract a buyer a year ago. Article content Glitzy as the supertalls may appear, they find themselves thrusting skyward in a market fast plunging in the opposite direction. A survey by research firm Urbanation Inc. reported that a total of just 502 condo units were sold in the second quarter across the entire Greater Toronto and Hamilton region, an area stretching well beyond Toronto itself to include some seven million people. Article content That's down 69 per cent from last year, and 91 per cent below the average of the past decade, the lowest levels in 30 years. Only 170 of those sales were in Toronto itself. Meanwhile, 19 Bloor West alone is expected to add almost 1,300 new units when it's completed. Article content Don't reach for your hankie just yet, mind. For years now, Toronto condo sales have been largely a game of buy-and-flip. Some 70 per cent of new units went to investors hoping to make a quick profit by flipping the end product once construction ended, or renting it out at eye-watering rates. But rents are falling along with the market glut, leaving investors holding units worth less than they agreed to pay and having trouble borrowing enough to cover the difference. Dozens of developments have been cancelled or delayed as a result, many stuffed with tiny units 400- to 600 square feet in size, built by developers persuaded people would happily attempt to raise families in shoeboxes. Article content Anyone old enough to remember when Canadian teams still won Stanley Cups should know that busts are as integral to the real estate business as tyrants are to Russia. There hasn't been a serious one in Ontario since a crash in the 1990s that lasted about seven years, so a substantial shock now could hardly be deemed unreasonable. Article content Maybe it will force some useful changes. Something has to happen to that mass backlog of tiny, unwanted boxes in the sky. You can't solve a housing shortage with base prices starting at $1 million. Nor can you pretend you're building 'homes' when seven in 10 go to quick-buck investors planning to flip them at the first opportunity. Article content If Toronto politicians want to get serious about a problem they love to moan about but never really address, they'll organize a future with fewer hundred-storey playpens that will 'Transform Toronto's Skyline' — as if that should be a priority for an overcrowded city with some of North America's worst traffic — and recognize that a few hundred six-plexes would do a lot more to serve home-hungry people than another vanity project in the sky. Article content
National Post
21-07-2025
- Business
- National Post
On the map: Canada's first ‘supertall' building adds to suite count amid project review
When sales of condo units in The One were halted in 2023, less than a quarter of the troubled downtown megaproject remained unsold. Now that the 85-storey mixed-use building has officially become Canada's first supertall skyscraper by surpassing 300 metres in height, that number has risen to about one-third. Article content That isn't because any sales agreements have been rescinded. Rather, it's because Tridel has increased the total number of units from 416 to 476 after taking over from Mizrahi Developments as developer, builder and sales manager of the rebranded One Bloor West in May 2025. Originally launched as The One in 2016, construction of the tower has been hampered by various delays and financial complications that led to it being placed in receivership in October 2023. As of early July, Tridel had not set a date for restarting sales. Article content 'As part of the transition plan for this community, we've been conducting feasibility and efficiency studies so we can see how to best optimize the project to completion,' explains Tridel president and CEO Jim Ritchie. 'Part of this included identifying opportunities to reconfigure and improve the layouts of suites in some areas of the tower, and supporting a greater mix of suite types. This has raised the total suite count of One Bloor West from its original design.' Article content As was the case with The One, the 308.6-metre tower will still be home to a luxury hotel and extensive retail in one of the city's most prominent and transit-connected locations. 'World-class retailers' are currently being selected to occupy the building's six-level commercial podium, Ritchie says. The same goes for the new 'five-star hotel' that will occupy several floors between the podium and the condo units. (The previous intended occupant, ANDAZ, a luxury boutique hotel brand under Hyatt Hotels, bowed out in 2024.) Article content Article content Article content The residential side of One Bloor West is being redesigned 'with a clear understanding that today's buyers are looking for efficient layouts, quality finishes and access to amenities that genuinely enhance daily life,' Ritchie says. 'The market may be facing an adjustment, but the fundamentals haven't changed. People still want well-located, well-designed homes that offer long-term livability and support their lifestyle.' Article content While Tridel has stated that revised suite designs and updated finishes will be announced upon completion of the review, it has already outlined key components of One Bloor West's residential offering. These include fitness and wellness facilities, indoor and outdoor lounges, concierge services, dedicated residential access points separate from commercial and hotel components, and outdoor amenity terraces. Article content Given that 300 units have already been purchased, it is unlikely that unit features and finishes, as well as communal building amenities, will change markedly from what was slated for The One. Open-concept layouts will almost certainly predominate given that the building's hybrid structural exoskeleton minimizes interior obstructions. Suite owners who bought through Mizrahi were enticed by features such as nine- and 10-foot ceilings, custom built-in benches next to exterior glass walls, marble and stone countertops and backsplashes, and frameless glass-enclosed showers, and there's no reason to think much of that will change. The tower's location above the Bloor-Yonge interchange will undoubtedly facilitate direct access to both Line 1 and 2 of the Toronto subway system, while most of the Mizrahi-designed amenities — such as a concierge-staffed lobby, underground valet parking, an elevated garden terrace, a fitness centre, and various club rooms and event spaces — align with Tridel's component outline.
Khaleej Times
17-07-2025
- Business
- Khaleej Times
Dubai among world's tallest cities as UAE overtakes US in skyscraper race
The UAE has vaulted past the United States to claim the second spot in the world for the number of supertall skyscrapers—those rising above 300 metres—according to the latest global rankings released by the Council on Tall Buildings and Urban Habitat (CTBUH). This milestone not only underpins the country's place on the global architectural map but also reflects a broader narrative of urban ambition, national pride, and visionary transformation of its skyline. From the soaring Burj Khalifa in Dubai to the sleek Adnoc Headquarters in Abu Dhabi, the UAE is home to more than 30 completed supertall structures, the vast majority of which have been built in the last decade. This rapid vertical ascent is more than a race for height — it's a statement of purpose. As the CTBUH notes, the UAE has emerged as a global leader in marrying futuristic design with engineering prowess, constructing high-performance buildings that are not just taller but smarter, greener, and more resilient. At the heart of this vertical revolution is Dubai, now ranked fourth in the world among cities with the highest number of completed buildings over 150 metres in height. With over 250 skyscrapers surpassing that benchmark, Dubai's skyline is an extraordinary fusion of ambition and aesthetics. Anchored by the 828-metre Burj Khalifa—the tallest building on Earth—Dubai's architectural landscape is a dramatic showcase of economic diversification, tourism magnetism, and real estate dynamism. The rise of Dubai has been swift and symbolic. Once a modest Gulf city, it has transformed into a glittering metropolis that competes head-to-head with global powerhouses like Hong Kong, Shenzhen, and New York. Much of this ascent has been propelled by the city's desire to diversify away from oil dependence and position itself as a hub for international business, innovation, and luxury lifestyle. Skyscrapers are not merely structures here—they are expressions of national identity, global relevance, and economic aspiration. Many of Dubai's towers are concentrated along Sheikh Zayed Road, the Marina, and Downtown Dubai, with each new addition pushing the envelope in terms of design and purpose. From residential towers to mixed-use marvels, the city's skyline is a vertical mosaic that reflects a blend of cultures, technologies, and economic forces. Globally, the UAE's status as the world's second-most prolific builder of supertall skyscrapers marks a historic shift. The dominance of the United States, once the undisputed birthplace and leader of the skyscraper age, is now being challenged by the UAE's accelerated pace of development and its embrace of next-generation architecture. This is part of a larger trend that sees Middle Eastern cities becoming increasingly central to the global conversation on urban form and livability. According to CTBUH, the UAE currently boasts more than 200 buildings over 150 metres tall and over 30 that soar beyond 300 metres. The country's strategy of creating iconic structures as anchors for global visibility and economic activity has paid off. Buildings like Marina 101, Emirates Towers, and the Capital Gate not only define the skylines of their cities but have become international landmarks in their own right. Dubai's ranking among the top four cities globally for skyscrapers over 150 metres places it just behind Hong Kong, Shenzhen, and New York—three cities that have long defined the art of vertical urbanism. Hong Kong leads the global list with over 550 high-rises, followed by Shenzhen with more than 380, and New York with over 320. While these cities owe their skylines to historical economic booms and geographic constraints, Dubai's story is one of deliberate and rapid reinvention. Abu Dhabi and Sharjah are also contributing to the UAE's upward trajectory. Abu Dhabi's skyline has matured significantly with the addition of civic, commercial, and residential towers that emphasise sustainability and design integrity. Sharjah is following suit with a new generation of high-rises that combine affordability with modern urban living. According to property pundits, the UAE's architectural achievements are not just feats of engineering—they are cultural symbols that articulate the country's openness to global capital, talent, and innovation. They stand as monuments to the nation's journey from desert settlements to urban marvels, attracting millions of tourists, investors, and visionaries from around the world.
The Independent
16-07-2025
- Business
- The Independent
What to expect from Canada's new ‘supertall' skyscraper
One Bloor West in Toronto has become Canada 's first "supertall" building, exceeding the 300-meter height threshold. Upon its scheduled completion in mid-2028, the 85-storey skyscraper will stand at 308.6 meters (1,012 feet) tall. Designed by Foster + Partners and Core Architects, the building will house 476 residential units, hotel facilities, and retail spaces. Despite its height, One Bloor West will not surpass Toronto's CN Tower, which is a freestanding communications tower and not classified as a building. The title of Canada's tallest building will soon be claimed by SkyTower at Pinnacle One Yonge, which is under construction and set to reach 351 meters. This building in Toronto has become Canada's first 'supertall' skyscraper
The Independent
16-07-2025
- Business
- The Independent
This building in Toronto has become Canada's first ‘supertall' skyscraper
Canada's skyline has reached a historic era, with a development in Toronto surpassing the 300-meter (984-foot) mark, making it the country's first "supertall" building. "Supertall" is a term used globally to describe skyscrapers that rise above 300 meters in height. Upon completion in mid-2028, cloud-scraping One Bloor West will have 85 stories and a height of 308.6 meters, or 1,012 feet. That's about four-fifths as tall as the Empire State Building. This behemoth won't, however, be Canada's tallest structure. That honor will remain with Toronto's CN Tower. It's 553 meters in height, or 1,814 feet, but doesn't count as a 'supertall building' because it's technically a freestanding communications tower. A building is classified as a structure with continuous floors from the ground up, a feature absent from the CN Tower. One Bloor West was designed by renowned Foster + Partners and Toronto-based Core Architects, and developed by Tridel. Core Architects said in a statement: "One Bloor West is now among an elite class of skyscrapers worldwide." And Foster + Partners described the skyscraper as a "bold new development" that will "set new standards for commercial and retail accommodation in Canada". The skyscraper is located at the border of downtown and the fashionable Yorkville neighborhood and will comprise 476 residential units on its upper levels, and hotel and retail floors lower down. The skyscraper will be topped by a series of luxurious duplex penthouses, accessed via a "sky lobby", which Foster + Partners says will have "sweeping views across Lake Ontario and beyond". Amenities will include a spa with fitness facilities, a library and a large south-facing terrace. "As the first supertall in the country, One Bloor West marks a pivotal moment not just for Toronto, but all of Canada," said Jim Ritchie, President and CEO of Tridel. "We are moving into a new era of development, marked by a level of ambition and engineering excellence not previously seen before. We're proud to be part of the team delivering a new landmark to Toronto's skyline and look forward to future buildings joining One Bloor West's supertall status." Tridel added that "construction continues to progress steadily, with major structural milestones now complete and interior work soon to advance across multiple levels". One Bloor West, however, won't be Canada's tallest building for long. SkyTower at Pinnacle One Yonge, under construction in Toronto's Central Waterfront neighborhood, will top out at 1,154 feet (351 meters) when complete, with views from the top at eye level with the CN Tower's observation pod. These new skyscrapers are both lofty, but far shorter than the world's tallest tower, Burj Khalifa in Dubai, which at 2,717 ft (828 meters) is more than double the height of both of them.
