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

[Pips]

Soil dumping

It's great that there is activity at the site, but the dumping and spreading of soil suggests more of a landscaping clean up than an excavation. They should be removing soil. Still, it's an interesting development to watch.

 

[WeirdFishes]

Maybe they are planting grass seeds for a park.

 

[khris]

This is all getting very weird!

 

[androiduk]

When I went by later in the day the area with the soil had gotten a lot larger and some guy with a machine was smoothing out the soil so it was nice and flat. Will try and get pix tomorrow. I'm trying to understand why a major surveyor (KRCMAR) would all of a sudden attach their signs to the hoarding. There were also trucks on site from a company called PLP (Pipeline Plus).

 

[Peepers]

When I went by later in the day the area with the soil had gotten a lot larger and some guy with a machine was smoothing out the soil so it was nice and flat. Will try and get pix tomorrow. I'm trying to understand why a major surveyor (KRCMAR) would all of a sudden attach their signs to the hoarding. There were also trucks on site from a company called PLP (Pipeline Plus).

It sounds to me like they are creating a smooth area for dignitaries to assemble for the official sod-turning ceremony. Also the fact that 2 sub-contractors have now added their signs to the hoarding is also a very positive sign. KRCMAR provided services to the Trump Tower and most of their clients are condo developers.

 

[khris]

KRCMAR has done lots of work for major buildings in Toronto, including Ritz, and Trump:

http://www.krcmar.ca/projects/projects.html

This sounds like a good sign.

I believe they also have a sign up on Absolute World towers hoarding.

I can't find anything called Pipeline Plus online. I did find this for PLP: http://www.plpcontracting.com/

 

[luxome]

KRCMAR has done lots of work for major buildings in Toronto, including Ritz, and Trump:

http://www.krcmar.ca/projects/projects.html

This sounds like a good sign.

I believe they also have a sign up on Absolute World towers hoarding.

I can't find anything called Pipeline Plus online. I did find this for PLP: http://www.plpcontracting.com/

yay! very exciting news. the empty lot is not very pleasing to drive-by or look at.

 

[Strange Advance]

Fingers crossed, folks.

 

[Automation Gallery]

Wow.......I think this is the start of something good.

I guess a bunch of Doom and Gloomers will be on the edge, now that some positive news is coming out of that 1BE site.

 

[dt_toronto_geek]

Don't get expectations running too high here. Keep the reports coming in but let's not get too carried away making too many assumptions quite yet.

 

[adma]

Wow.......I think this is the start of something good.

http://www.tomandjerryonline.com/sounds/believe.wav

 

[dventura]

I was told by somebody who works for one of the big banks and finances these types of projects that this project is unlikely to go forward. According to this person, their bank has been approached as well as all of the other major ones and they all refuse to finance the project due to the number of foreign investors who bought here on spec and that it is too high of a risk for them. Just passing on what I was told by a source that would really know this stuff....so please don't shoot the messenger.

 

[whatever]

Was this tower really bought up by foreign investors tho? My impression was that it was predominantly local buyers for this one

 

[caltrane74]

I was told by somebody who works for one of the big banks and finances these types of projects that this project is unlikely to go forward. According to this person, their bank has been approached as well as all of the other major ones and they all refuse to finance the project due to the number of foreign investors who bought here on spec and that it is too high of a risk for them. Just passing on what I was told by a source that would really know this stuff....so please don't shoot the messenger.

If anyone at your friends bank was approached, it was likely ages ago. This project will not be financed by a local bank or financial institution. Much more likely that the project financing (and bridge financing if required) will come from Europe or Asia.

 

[lochlyn]

If anyone at your friends bank was approached, it was likely ages ago. This project will not be financed by a local bank or financial institution. Much more likely that the project financing (and bridge financing if required) will come from Europe or Asia.

Why the major banks in Canada still so conserviative? Look at their stock price, such as TD, it's almost doubled since last October's crash...how much is the total project financing required? $1 billion or $700 million?