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1 Bloor East, DEAD (Kolter, 60s)

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At least they've cleared the field for the next guy, so it's not all in vain. If Kolter are indeed exiting Toronto it would make sense for them to offload this property to another developer relatively soon. The market is not likely to get much hotter (though I could be wrong) so they might as well get as much $$$ for it as they can.
 
You get the feeling this is one of those projects never to be?
 
It's base was supposed to house a new 12 or 14 screen Famous Players complex, so since they're gone, there's one less major tennant for this space... unless Cineplex wants to add more screens to the area, or want to move the films from the Cumberland to here (it's up for sale), or unless maybe Empire Cinemas from Nova Scotia who got three of the GTA's cinema complexes out of the FP/Cineplex takover want to increase their presence in the centre of the city (and I would advise them to do so!).

Anyway, all that means more uncertainty for the complex. That might even be what's holding it up currently.

42
 
This corner has so much potential having a direct link to the subway. It needs more than just one condo building. Mixed use with office, retail, hotel and residences. There are alot good projects going up in this area, I can wait a little longer.
 
Does anyone know the status of the 1 Bloor East project? Is it a go or not?
 
frizzed:

The project already has approval - it's up to the developer to decide whether to go ahead. Haven't head anything with regards to the latter.

AoD
 
AoD clearly explained this well, and thats your final answer ;)
I hope it happens, but I doubt it'll fly, but who knows.
It makes you wonder tho, seeing all these condos go up near the lake but not this one :p
 
thenay:

Actually in some ways I'd rather not see the 1BE as approved be built - the site could be used as prime commercial real estate instead of generic condos.

AoD
 
Who's the developer again. I think I read somewhere where the developer listed this as a upcomming project.
 
Kolter is the developer. Apparently they are concentrating on thier FLA portfolio at the moment,
 
I hope they are hard at hammering something out now that their Famous Player cinema seems doubtful (after its merger with Cineplex Galaxy). It's such an important intersection!
 
I'm not sure what kind of an all-commercial project would be feasible here. Offices have been a hard sell for years now in the Yonge-Bloor area. There have been significant vacancies, even while people are crying for space in the financial district.
You might get some office space into a podium, but an office building of any real size is unlikely.

The ideal would be to see it built as originally conceived, as a mixed-use project. I'd really like to see the movie theatre as well. Several theatres have been lost around Yonge-Bloor over the past few years.
 
Observer,

I did not know that YB had difficulty finding tenants. This is the opposite of Manhattan. What is the reason?
 
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