In February, it was reported that Apple was seeking to end its lease agreement with Mizrahi Developments for the construction of state-of-the-art flagship retails in Sam Mizrahi’s new retail and condo project “The One” in downtown Toronto, Canada. When the tech giant accused the builder of construction delays and said it had the right to terminate the lease, Mizrahi Developments filed a motion in court to stop the tech giant from leaving.
Now, disappointed Apple has sued the construction company to end its lease at Mizrahi’s new 85-story residential skyscraper “The One” at Yonge and Bloor streets which would have included Apple’s signature glass and wood flagship store on the ground floor. The tech giant is also seeking millions of dollars in damages for missed deadlines.
Apple takes Canadian builder to court and demands $6.9 million in delay damages
The contract between the two parties was signed in March 2016 and its final delivery date was pushed from November 2019 to October 2021. Almost after six years, “The One” is still listed as an under-construction site. Dismayed by the delays, the Cupertino tech giant is seeking not only the termination of its lease with Mizrahi Developments but also demanding $6.9 million in delay damages for missing crucial deadlines. The Globe and Mail writes:
According to Apple claims it is entitled to $6.9-million in delay damages. It is seeking a court order declaring that Mizrahi missed crucial deadlines and that Apple is allowed to terminate the lease. It is also seeking an additional estimated £18,600 it says it is owed in connection with a tri-party agreement between Apple, Mizrahi and the building’s architect, London-based Foster + Partners.
Apple lists 26 items it alleges Mizrahi did not complete by the Halloween deadline. They include incomplete common areas and other work that allegedly prevented Apple’s occupancy.
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