Mizrahi’s real estate career began when he sought out investment opportunities in Toronto neighborhoods like Richmond Hill and Oak Ridges. He then turned his attention to building luxury custom homes, followed by luxury condominium projects, like those found at 133 Hazelton and 181 Davenport.
Today, much of Sam Mizrahi and his team’s focus is directed toward the development of The One, Toronto’s first supertall skyscraper, which is located at the intersection of Yonge and Bloor streets in downtown Toronto. As part of The One’s development, most recently it was announced that Mizrahi Developments had entered into an agreement with Hyatt Hotels Corporation to build a 185-room luxury Andaz hotel in the tower.
What is the significance of Mizrahi Developments’ partnership with Hyatt to Toronto’s landscape?
Sam Mizrahi: For Toronto, it is a true testament to the city’s growing importance on the global scene, and it also validates almost a decade of vision and hard work by our collective team. The One sets a new benchmark for Toronto—and for Canada as a whole—and we are excited to have the iconic Andaz brand on board as we move ahead on this extraordinary project.
Can you tell more about the Andaz hotel? When is it slated to open?
Sam Mizrahi: Sure. The hotel is slated to open in 2022 along with the condominium residences located at The One. The first of its kind in Toronto, the Andaz brand features 18 hotels globally and is designed to attract inspired expressives: well-traveled creative individuals who embrace their own personal style. The hotel will occupy floors 4 through 16 of the tower, offering more than 15 luxury suite and 12,000 square feet of event and conference space, food and beverage experiences, a spa, and more. It truly is a prestigious honor to announce the inclusion of the Andaz brand as a part of The One.
FinSMEs: Construction on The One is well underway, but can you provide our readers with a quick recap of the project?
Sam Mizrahi: Certainly. The One is an 85-storey tower located at the intersection of Yonge and Bloor streets. The building will have 416 luxury residential suites ranging from 650 to 9,000 square feet and will feature over 175,000 square feet of commercial and retail space. Upon its completion, it will be Canada’s second-tallest structure, after the CN Tower.
FinSMEs: Having now worked in the real estate market for more than a decade, are you still driven by the same aspirations as you were when you first entered the industry?
Sam Mizrahi: Absolutely. When I started building custom homes and, later, customized condominium projects, I was motivated by two broad points: one, building residences that can be truly customized to meet the needs of owners and building residences that owners would be proud to call home. Second, I wanted to change the streetscapes of Toronto for the better. Both of these points are still highly important for me as a developer. Although our projects may be larger now, both myself and my team want to remain true to our development principles and goals.
FinSMEs: What’s your best piece of advice for someone looking to invest in a high-end property?
Sam Mizrahi: When you walk into a property, look for luxury in the details; the architecture, high-end features, amenities, etc. Most importantly, make sure it exceeds your expectations and gives you a sense of happiness that can’t be matched. To me, luxury is something you feel when you walk in. Whatever the product, it should embody happiness and enjoyment.