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

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grey said:
Found this updated rendering on the Bazis website:


200802parkingboothlayh6.jpg
Click to expand...
Before the image loaded I believed you.
 
that sexy booth shows how small minded Toronto is when it comes down to its parking system's architecture.
 
AND ......... still nothin'

(Building Permit) Application Status Search

1 BLOOR ST E

08 201447 DRN 00
Drain and Site Service
Sep 12, 2008
Not Started

08 201447 BLD 00
New Building
Sep 9, 2008
Under Review

08 201447 SHO 00
Partial Permit (Shoring)
Sep 9, 2008
Under Review

08 201447 FND 00
Partial Permit (Foundation)
Sep 9, 2008
Under Review
 
I think the city may be playing with fire when they keep delaying these permits. Given the current unpredictable economic situation, it might be better to push some of these projects through while the developer has financing. It would be a lot easier for the lenders to pull financing if the project hasn't started.
 
androiduk said:
I think the city may be playing with fire when they keep delaying these permits. Given the current unpredictable economic situation, it might be better to push some of these projects through while the developer has financing. It would be a lot easier for the lenders to pull financing if the project hasn't started.
Click to expand...

I'm with you there. Mike, perhaps you could enlighten us as to what there is to 'review' here, and why it takes three or so months to do so?
 
ProjectEnd said:
I'm with you there. Mike, perhaps you could enlighten us as to what there is to 'review' here, and why it takes three or so months to do so?
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Or why it can take a month to do a simple building permit application for a single detached home that has all other approvals in place... or why a Conservation Authority can hold up a small project for over a year for a simple shoreline alteration permit... or why some plans of subdivision can take years to review (North Oakville has been in the planning process for nearly two decades). The planning approvals process can be very long and frustrating - sometimes a means to itself rather than a means to an end... this shoring/foundation permit waiting is nothing really...
 
To address what you said about "costs for construction rise", that may have applied in the past, but now we are definitely in a DISinflationary environment. Fuel costs have come down back to 2005 levels, copper prices are down to 2005 levels, and many other raw material costs are still falling. So I'd say construction risk is low to non-existent.
As for purchasers not being able to close since they might be unable to get financing ... closing is still years away, and a purchaser who has already put in $30 to $40K investment in a condo will make sure to find that last 5% on closing to close the deal and not lose their previously paid cash.

luckycharms said:
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.
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C'mon guys, I'm really surprised to read comments like that last sentence you wrote ... we're here to encourage discussion and debate. It's natural that people are curious about the status of this project. This is a democracy and not a dictatorship - we shouldn't be muzzling inquisitive minds.

Solaris said:
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 :)
Click to expand...
 
by all means DZ2007 I'm not trying to stop discussions of any particular kind ... but when there is over 20 pages on "failure of 1BE" already in this thread, do you need to read more? I'm sure anyone who takes the time to read through ALL these pages will find the discussions / information on the rumoured 1BE failure ...

just for the record (again!) ... I won't be crying over the loss of 1BE (if that became true) :p
 
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