Posts Tagged ‘will it be built’

Whether you’ve bought into 1Bloor or not, it seems like everyone wants to know if it will ever get built. It’s been the hot topic of discussion amongst those in the condo community for almost a year now! Whenever I’m asked (at least 3 times a week) my answer is always the same “We’ll have to wait on Bazis to publicly announce their plans” and that day my friends is coming VERRRY soon! Reason being, Bazis is about to reach a crucial due date. One in which they’ll have 3 choices: Build, Not build or Ask for another extension from buyers (the last scenario also gives purchasers the option of backing out). The internet chat boards have been flowing with rumours (and a few facts) about the fate of the project. It’s appropriate to state from the start the purpose of this post is to share the stories I’ve heard and that I in no way know what the actual outcome will be… the only person who does know is Michael Gold, the developer. Ladies and gentlemen I present to you the story of 1Bloor…

Thanks to everyone who has asked me about 1Bloor.  I’ve posted an update which can be read here.It was fall of 07 and the corner of Yonge and Bloor was covered for days with realtors lined up at Toronto’s newest gem known simply as 1Bloor. It was to be built by Kazakhstan developer Bazis and designed by Roy Varacalli (the same people behind Crystal Blubeing built around the corner). The 81 story building was slated to be the new anchor for the popular Yonge and Bloor corner. For months prices were advertised to start at $300,000, garnering the interest of many and attracting them to live at the centre of the city. I remember telling clients how amazing these prices were for a project of this stature. Some believed, but most shrugged it off as just another condo. Sure enough on the day of the brokers VIP, a man in a ‘cherry picker’ went in front of an anxious crowd and plastered a new price over the existing. The new sign now read “starting at $500,000″!! (Side note: after all the media coverage at the event, the phone was ringing off the hook with buyers trying to get in…Even with the increase)

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