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1 Bloor East, DEAD AND BURIED (Bazis, -2s, Varacalli)

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luckycharms

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I read all the threads...the one right before mine was talking about a building permit website (thanks very useful)…no shoring or foundation permits have been issued yet. The one before that was that there was construction hoarding going up around the site...indication of something or other.

The developer is having trouble get financing! I don’t believe that was mentioned which is a clear indication of the times.

There is also another project that is going down in South Etobicoke and the developer is looking to sell asap with 90% presold the reasons are that 1) There is still construction risk – the risk that the contractor will not complete. Costs for construction rise and the developer has to complete at a higher cost with reduced or no profit and stands to lose the equity. 2) There is the risk that purchasers will not close since they might be unable to get financing

Much greater risks all round.
 

interchange42

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Actually, it is worth reading several pages of this thread as the financing issues here have been discussed at length. Go back through a couple of months worth of posts.

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Solaris

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no offense intended Luckycharms ... but I want to bring you attention to at least 10 pages worth of financing problems discussions + rumours of 1BE falling through ... there are definitely LOTS of rumours on UT about 1BE falling through (although Bazis has done nothing to confirm one way or another) ... I personally wouldn't mind 1BE as proposed now fail (and rumours proven true) so that a better looking tower gets put up ... but certainly there are others that want this baby built :D

it may be in your best interest not to pursue this subject further though :)
 

dt_toronto_geek

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I saw 3 people on site this afternoon but no active machinery.
Hoarding going up -
 
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Solaris

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wouldn't it be worst if "there werea lone porta-potty sitting in the middle of the empty lot with someone doing something in it" ??

LOL :D
 

androiduk

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There has been lots of activity there lately. They've put up the hoarding, stripped away the sidewalk around the perimeter of the site, wired the site for electricity, cleaned off the walls of the Xerox building, continued with their soil testing and making holes around the perimeter with one of those Badger vacuums. They have a sidewalk encroachment permit for the hoarding posted. It's good until April 09. I feel sorry for these guys. They're raring to go and City Hall is dragging it's feet. Come on you guys, give 'em their shoring permit so they can get started!
 
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dt_toronto_geek

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There has been lots of activity there lately. They've put up the hoarding, stripped away the sidewalk around the perimeter of the site, wired the site for electricity, cleaned off the walls of the Xerox building, continued with their soil testing and making holes around the perimeter with one of those Badger vacuums. They have a sidewalk encroachment permit for the hoarding posted. It's good until April 09. I feel sorry for these guys. They're raring to go and City Hall is dragging it's feet. Come on you guys, give 'em their shoring permit so they can get started!
There has been a considerable amount of work done this past week or so, this looks promising. A lot of soil has also been moved onto the site.
 

299 bloor call control.

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i'd rather have that than the building that was there before. not to mention that it'd be ready to put a tower in *IF* it isn't gonna go ahead anyway.
 
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