Apple has filed a lawsuit against Sam Mizrahi’s company over missed deadlines involving the developer’s long-planned 85-story skyscraper in downtown Toronto, reports The Globe and Mail. The tech giant says it’s “disappointed” in the company and is owed millions of dollars in damages for missed deadlines.
Sam Mizrahi is a Canadian real estate developer who is the president of a number of corporations, including Mizrahi Developments, Mizrahi Inc. and Mizrahi Enterprises Inc.
The skyscraper at Yonge and Bloor streets, called The One (1 Bloor Street West) is approved as an 85-story condominium, hotel, and retail tower by Mizrahi Developments. It’s under construction and is expected to be the tallest commercial condo building in Canada.
It was intended to include Apple’s flagship Toronto store on the ground floor. However, six years after Apple and Mizrahi Developments signed their first lease agreement, the future of the store is in doubt, with the two parties fighting over the project’s development, according to The Globe and Mail.
“Apple regrets that Mizrahi’s failures have resulted in Apple having to take the step of ending its relationship with Mizrahi,” Apple said in the lawsuit filing. According to the lease agreement, the tech giant has an option to leave without penalties if Mizrahi misses certain deadlines.
However, Mizrahi said his company hasn’t missed deadlines and Apple doesn’t have the option to get out of the lease, according to an earlier application the developer filed in court in October, 2021.