The foundation of One Bloor East by Great Gulf Homes is moving along, with three stories now completed as part of the building's five storey below-grade parking garage. The planning application for the 70-storey condo designed by Hariri Pontarini Architects states that there are to be 497 parking spaces at One Bloor East to accommodate vehicles for the residential and retail components of the development. This is what the site looked like just prior to breaking ground in July 2011:

One Bloor East condo development Toronto by Great Gulf HomesPhoto by waterscapes-guy

Forum member androiduk has shared some recent photos of the site on our One Bloor East discussion page showing the foundation's progress as of April 13:

One Bloor East condo development Toronto by Great Gulf HomesPhoto by androiduk

One Bloor East condo development Toronto by Great Gulf HomesPhoto by androiduk

There has been some discussion about whether the site was being built directly on top of the Bloor-Yonge subway stations, but the Yonge-University-Spadina subway runs farther to the east of Yonge Street and the Bloor-Danforth subway runs farther to the north, and therefore not an impediment to digging the building's five-storey deep parkade.  Direct access to the subway will be incorporated into this development as well. 

One Bloor East location with transit linesimage by Google Maps

Scheduled for completion in December 2014, One Bloor East will rise 70 storeys and have a dramatic impact on the upper downtown skyline.  

One Bloor East Condos Torontoimage by Great Gulf Homes