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Number One Bloor

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Coming Soon: Number One Bloor

The anticipation is growing for Number One Bloor.  Great Gulf Homes acquired the site a few months ago from Bazis International – the former developer of “1 Bloor” who ran into financial troubles and was unable to proceed with the development. Great Gulf Homes is definitely one of the good guys when it comes to condos in Toronto having already completed successfully several Tier-1 buildings in addition to several more in the pipeline.

So what should buyers expect for this time round for this historic address? Expect lineups. Expect a great deal of coverage from the mainstream media. Expect a launch sometime around March 2010. Expect price per square foot to be in the $800-$1000 range. Did I mention lineups? Finally, expect Great Gulf Homes to get this project built!

If you are wondering how there could be lineups to buy condos at $800 PSF, consider the build up and anticipation surrounding this condo (in March it will have been 3 years since they first announced the original 1 Bloor), the intensity of the overall pre-sale market, and the fact that no matter what anyone says, Yonge and Bloor is a very important intersection and always will be. They aren’t making any more land on Yonge Street!

Interesting that the old Bazis website for “1 Bloor” has been removed and now both 1bloor.com and 1bloor.ca redirect to NumberOneBloor.com which is the developer’s official site.

If you would like to be updated when more information becomes available for Number One Bloor, including details on any upcoming VIP sales events, please contact me.

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1 Bloor Rumour Train Gathering Speed

July 22 Update: The 1 Bloor site at Yonge and Bloor is apparently up for sale according to the Toronto Star. If this is true, this would put the future of the tower in serious jeopardy.

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1 Bloor was the most celebrated and most reviled symbol of Toronto’s recent real estate boom.

Realtors lined up for weeks (or paid students and homeless people to do so) for the chance to buy units there only to learn that the developer increased prices by 25-50%  from what they were told they would be paying. It didn’t matter as they bought anyway and hundreds of units were sold in a matter of days at prices in the $1000 per square foot range.

Now, more than 2 years after the initial hype began, no shovel has hit the ground and no one is moving into their piece of Toronto real estate history any time soon. Still the million-dollar question remains:

Will 1 Bloor actually get built?

The latest rumours news on the project is this: it will be built, only it is going to be scaled back to 68 stories instead of the original 80. This is according to the Globe and Mail. So that would mean it is no longer Canada’s tallest residential building, and purchasers who bought units on floors above 68 are…screwed.

But hold on, because The Toronto Star has a remarkably different article in their paper today which says that 1 Bloor is going into receivership and that the current Kazakh financial backers of the project are in mired in a massive scandal. That doesn’t sound like the recipe for building a 68 storey tower to me.

So who is right? I have no idea, but this corner of Toronto deserves a landmark, be it 1 Bloor or something else. My fear is that if plans for 1 Bloor are scrapped, something mediocre will be built in its place. When it comes to condos, Toronto already has plenty of mediocrity but greatness is in short supply.

For a trip down memory lane, check out some of my old blog posts on the 1 Bloor development from when I was a contributor to BlogTO.

• Kazakhstani Developer to Transform Yonge and Bloor: Very Niiice!
• 1 Bloor: What will you miss the most?
• 1 Bloor: Crosshairs of Insanity

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The Best Penthouse in Toronto: 1 Bloor

Welcome to your online guide to “The Best Penthouse in Toronto“. In this installment I will be profiling the penthouse suite at 1 Bloor.

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Yonge and Bloor: What Will You Miss the Most?

It’s hard to believe but it has been 5 months since Bazis International first formally introduced their plans for an eighty-storey condo/hotel Mega Tower on the South East corner of Yonge and Bloor. And whether you love it or hate it (and judging by the comments in my previous posts on this building, there are plenty of people on both sides), the reality is Yonge and Bloor is about to undergo a major transformation and will never be the same again.

Like what you see? Read the rest at blogTO.com.

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Kazakhstani Developer Unveils Plans for ‘International Icon’ at Yonge and Bloor: You Like?

Yesterday morning, to a surprisingly large gathering of the local media at Panorama, Bazis International revealed its plans for an 80-storey condo tower at Yonge and Bloor. The name for the project? Quite simply, 1 Bloor.

Like what you see? Read the rest at blogTO.com.

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Kazakhstani Developer to Transform Yonge and Bloor: Very Niiice!

Leave it to the Kazakhstanis. Just days after Donald Trump was in town and it was announced that his 70-storey building at Bay and Adelaide was set to begin construction, Kazakhstan-based developer Bazis International declares its own plans to build an 80-storey building at Yonge and Bloor. Zing!

Like what you see? Read the rest at blogTO.com

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