**********************************************

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

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

There was so much hype when 1 Bloor launched in November 2007 that it has been hard to separate fact from fiction with this project. One of the most widely accepted rumors about this project was that the penthouse suite was sold to a Hong Kong businessman for $25 million. Despite the fact that several mainstream media outlets have reported it sold, it has not. The penthouse suite at 1 Bloor is still available and is still priced at $25 million.

The truth is they were in fact close to an agreement, but it fell apart in the end because the buyer insisted upon having his own private elevator that no one else could use and that would enter directly into his suite. The developer said it could not be done, the architects could not figure out a way to get it into the plans. But now, the developer is saying that if a new buyer wants this same feature, there is a way it can be done-too late for the original buyer apparently.

The feature about the 1 Bloor Penthouse that has garnered the most attention is the internal infinity pool. Imagine swimming in a pool in your own mansion in the sky, 80 storeys from the ground, and looking out over the skyline of Toronto.

Developer:: Bazi’s International (Based in Kazahkstan, No completed projects in Toronto, Currently also developing/selling Crystal Blu – Yonge and Bloor, Emerald Park – Yonge and Sheppard, coming soon: Exhibit Definitive Residences – Bloor and Avenue)
Penthouse: $25M for 7530 sq ft. This is the entire 80th floor of the building. $3320 per square foot.
Sub-Penthouses: 4 floor plans available ranging from $5.7M – $9.5M and 2485 – 3810 sq ft respectively. $2300-$2500 per square foot
Key Features: Infinity pool (in the penthouse suite only), 10′ or 12′ ceilings, multiple outdoor terraces (penthouse), Miele and Sub-Zero appliances
Notes: -Penthouse is totally customizable, units on the sub-penthouse levels can be combined to create a larger unit if desired
-The hotel that is going to be in the base of the tower is expected to be announced this fall. Rumor is it will be a major French chain.
-All the hotel amenities are available to residents of the penthouses
-No parking spots included ($75,000 each), but separate parking level exclusively designated for Penthouse suites
-Maintenance fees 49 cents per square foot, hydro extra
-Occupancy November 28, 2011
Potential Negatives: Developer has no track record in Toronto, Units as small as 540 sq ft in the building, very high percentage of investors/speculators purchased units in the building (non end-users)

For more information on the 1 Bloor Penthouse suites, please contact me.

Downloads:

• 1 Bloor Penthouse Floor Plan
• 1 Bloor Sub-Penthouse Floor Plans
• 1 Bloor Penthouse Preview Price List

The Best Penthouse in Toronto Series:

• College Park Aura Penthouse
• Four Seasons Yorkville West Penthouse
• Shangri-La Penthouse
• The Residences of the Ritz Carlton Penthouse

Good news condo investors. I now have access to units at Emerald Park in advance of the upcoming agent’s only sales event in July. Please contact me now with what unit you are interested in.

Here is a sample of a few units I have available for purchase RIGHT NOW:

1) Unit 4107 – Penthouse suite (top floor of building-soon to be unit 4707 as they will be adding more floors), 1163 sq ft, 2 bed + den, 2 full baths including a spectactular master ensuite with double sinks and separate shower and tub, Contact me for price. North west corner unit.

2) Unit 3306, 778 sq ft, 2+den, Contact me for price west exposure.

3) unit 2904, 581 sq. ft, 1 bedroom, Contact me for price

All the above units are going to be in the East tower. (there will be an east and a west tower)

Let me know if you are interested in any of these units and if you would like to purchase a unit BEFORE the sales event in July.

The excitement is growing and this project is looking really good. More and more news stories are focused on the gap that is growing in real estate values between the suburbs and the city. With DIRECT SUBWAY ACCESS Emerald Park is sure to be a fantastic investment both now and in the years to come and more and more Canadians ditch the suburbs and move back in the city. Just yesterday there was another article on this subject in the New York Times.

From Bazi’s International, the developer behind 1 Bloor and Crystal Blu, Emerald Park is about to be launched at Yonge and Sheppard.  Contact me now for your chance to buy before the public and save thousands.

Stand out features include direct subway access, high-end Miele appliances, 9′ ceilings, and LEED certification. Amenities include indoor pool, roof top terrace, party rooms, and state of the art fitness and Yoga centre. Every suite will have a balcony and terrace suites will be available.

Prices from the $200s but most suites 700 sq. ft and above will be in the 3s and 4s. Price per square foot is in the $460-500 range which is good considering the direct subway access feature (excellent for resale).

This is probably the most highly anticipated development in the Yonge and Sheppard corridor this year. Please contact me now if you are interested as it will sell quickly and prices will go up accordingly. GET IN EARLY!

Links (Get on my email list for updates as more information is released):

Floor plans

Terrace suite floor plans

Prices (with information about deposit structure, maintenance fees, occupancy dates etc.)

Bazis International is the developer behind Crystal Blu and 1 Bloor.

Contact me now for VIP sales and your chance to buy before the public.

..

..

..

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

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