Over a decade has passed since rumors first surfaced about Apple's interest in opening a flagship retail store at one of Canada's busiest intersections, but the plans might be abandoned due to a legal battle between Apple and a real estate developer.
The Globe and Mail reported this week that Apple has sued the developer of a long-planned condominium tower at the southwest corner of Yonge Street and Bloor Street in Toronto. Apple was rumored to be planning a large street-facing store at the ground level of The One, which is set to become Canada's tallest building.
According to the report, Apple said in a January 28 filing with Ontario's Superior Court of Justice that it had to end its relationship with Mizrahi because of his failures. The report said that Apple was looking forward to opening the store for its customers.
According to the report, Apple accused Mizrahi Developments of missing crucial deadlines, allowing it to exercise its option to end its lease agreement with the developer. Apple disagreed with the claims of Mizrahi Developments that the delays were due to issues such as a plumbing strike.
The original lease agreement between Apple and Mizrahi Developments was signed in March of 2016 and the deadline for Apple to takeOccupancy was changed twice from November 30 to October 31, 2021, according to the court filings.
The four Apple stores in Toronto are located in shopping malls.
Thanks, Bob Allan!
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