Skyscrapers are a high-risk, high-reward business. In 2023, The One, a planned 85-storey luxury residential tower downtown pegged for uptown Toronto, went into receivership.  It was behind schedule and only completed about halfway when it fell into receivership. It takes a long time to finish a high-rise, and in that time, the developers carry the costs of the land. And, construction costs on such long-term projects are ever-changing, even as  it is underway, so they can easily go above budget, as was the case for The One.