Current Status of Site
In December 2007 the site was bought by a partnership of Israel Land Development Company and Skyline International Development Inc. (the Canadian division of Mishorim) from the property's receiver for C$24.1 million. The partners announced plans to build a 55-storey office, hotel, and residential skyscraper on the site for an estimated C$138 million. A 54-storey design by Page+Steele architects was later revealed.
By 2011, after several designs had been released, no construction had begun. In December 2011 Mishorim sold the undeveloped lot to CentreCourt Developments for C$39 million. CentreCourt, in partnership with Lifetime, is now marketing a new development on the lot as INDX Condos.
Read more about this topic: Sapphire Tower
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