innsertnamehere
Superstar
Bazis bought this land assembly for $45 million, 0.307 acres. Also includes 18 cumberland and 17 Yorkville.
Toronto 11 YV | 213m | 62s | Metropia | Sweeny &Co
- Thread starter innsertnamehere
- Start date
ChesterCopperpot
Senior Member
Someone has been browsing Realnet today
Automation Gallery
Superstar
innsertnamehere
Superstar
http://urbantoronto.ca/forum/thread...-real-estate-in-gta.26944/page-2#post-1270236
I don't have access to Realnet.
maestro
Senior Member
converted to residential decades ago.
ProjectEnd
Superstar
Big changes coming here.
ADRM
Senior Member
Another Yorkville Varacalli, then, one might assume.
ProjectEnd
Superstar
Not exactly.
maestro
Senior Member
interested and scared at the same time
DonValleyRainbow
Senior Member
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enrigue8
Active Member
It's sound interesting !
I just hope that this building will honor
1 Yorkville and 1 bloor in term of design.
I just hope that this building will honor
1 Yorkville and 1 bloor in term of design.
Midtown Urbanist
Superstar
You could describe my feelings to every Yorkville tower proposal that way.
sunnyraytoronto
Senior Member
Replying to ChesterCopperpot here
http://urbantoronto.ca/forum/thread...-rosario-varacalli.19292/page-52#post-1271132
Do read my previous post on Bazis' product cycle,...
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-153#post-1191168
Bazis' current product cycle only include e-condo & 1 Yorkville:
e-condo - black towers with red amenity floors and pool in the sky at Yonge&Eglinton (built with partner Metropia & RioCan)
development application: Dec 14, 2011
completion (estimate): (late 2019)?
status: mid-30s forming
NOTE: Bazis sold out their share in north tower rental apartment to partner RioCan
1 Yorkville - aluminum twisting fin exterior near Yonge&Bloor (built with partner Plaza),.... Hmmm, why is Bazis long time partner Metropia gone??? Metropia usually does some of the developer's Project Management whereas PlazaCorp is usually the silent partner.
development application: Oct 4, 2013
completion (estimate): (Fall 2020)?
status: 5th floor forming starting flying table forming stages
Bazis past history was to submit development application for a condo tower project that'll take them about 7-8 years to complete (typically 2 years longer than others). Thus, to maintain Bazis condo development pipeline, I expected Bazis to submit condo development application in 2015 and then in 2017,.... but instead of condo towers, Bazis focused on stacked townhouses. Huh??? Toronto is in a condo boom, every condo builder and their grandmother building condo towers!,... and condo tower builder Bazis switches over to townhouses??? Why?? Because stack townhouses usually takes about 3-4 years from development application to completion,.... Townhouses look like filler project for Bazis as they finish up their e-condo and 1 Yorkville project!
But now it looks like Bazis townhouse project are being sold off to other builders,....
Bazis' Estates On Bayview - stacked townhouses with 20 units at Bayview & 401
development application: Dec 21, 2015
completion (estimate): (2018-2019)
Bazis got upzoned for townhouses then land severance granted at CofA
Bazis seem to have sold project to RUP who'll do EmpressPark townhouse
http://urbantoronto.ca/forum/thread...york-mills-bazis-planning.23608/#post-1270294
Bazis' OASIS on Lawrence - stacked townhouses with 54 units on Lawrence West near Allen Rd
development application: Sept 15, 2016
completion (estimate): (2019-2020)?
Status: Development application WITHDRAWN a couple month after submission
Recently resubmitted as OASIS Townhomes on Lawrence - looks like 12 unit townhouse with Suriano Architectual Design
http://urbantoronto.ca/forum/threads/toronto-oasis-townhomes-on-lawrence-15m-4s-bazis-suriano.26120/
Bazis Canada is not a large developer like Menkes or Tridel that have multiple divisions and assets. Tridel group includes their own in-house construction company Deltera, Del Realty sales team, Del Property Management, DelSuites Furnished Rentals, Del Condominium Rentals, etc,... Bazis Canada is like a "pop-up" developer, they only came here for the condo-boom, they contract everything out (TMG builders for construction, BakerRealEstateInc for marketing, FirstServiceResidential for property management, NewConceptBrokerage (Century21/RoyalLePage) to sell remaining and defaulted units, etc,... ); Bazis Canada is NOT here to stay! Bazis Canada was never set up to stay,.... minimal assets here, everything is contracted out and Bazis screws over everyone - customers, clients, contractors, partners, city staff, TTC, councillors, etc,.... Bazis Canada never planned to stay.
Bazis Canada is really just a Mom&Pop boutique developer (most principle quickly approaching retirement age!): President Michael Gold and his wife Veronika Belovich (Director of Sales and Marketing - her father is Bazis International tycoon owner in their home country Kazakhstan) and architect Roy Varacalli,.... and it's obvious the next generation - Jonathan Gold - shouldn't be in this line of business. Is Bazis International tycoon in Kazakhstan willing to trust the young Johnathan Gold?
Architect Roy Varacalli is probably the most talented architect currently stationed in Toronto; you think Roy Varacalli is happy going from designing signature condo towers to townhouses??? It looks like Roy Varacalli joined Cusimano Architects
https://condonow.com/Edge-Towers
So what's going on here???? Bazis acquisition of this property is in character of the old Bazis - good properties at or near subway interchanges for condo development. Will Bazis really design and build a 1 Yorkville twin tower here??? A development application will take about 2 years for approval/denial,.... just in time for 1 Yorkville to complete. Then the question becomes will Bazis actually build? The way Bazis buys blocks of contractors/builders and move them from one project to the next means there'll be a 2-4 year gap here that'll need to be reset. Bazis' Estate On Bayview project really just turned out to be an UpZoning and Sell exercise,... Bazis' original 1 Bloor East project was also ended up being an UpZoning and Sell exercise,.... although that was more of a forced sale due to Lehman Brothers bankruptcy and Bazis failure to find other financing.
Needless to say,... this site will be interesting to watch,....
http://urbantoronto.ca/forum/thread...-rosario-varacalli.19292/page-52#post-1271132
Do read my previous post on Bazis' product cycle,...
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-153#post-1191168
Bazis' current product cycle only include e-condo & 1 Yorkville:
e-condo - black towers with red amenity floors and pool in the sky at Yonge&Eglinton (built with partner Metropia & RioCan)
development application: Dec 14, 2011
completion (estimate): (late 2019)?
status: mid-30s forming
NOTE: Bazis sold out their share in north tower rental apartment to partner RioCan
1 Yorkville - aluminum twisting fin exterior near Yonge&Bloor (built with partner Plaza),.... Hmmm, why is Bazis long time partner Metropia gone??? Metropia usually does some of the developer's Project Management whereas PlazaCorp is usually the silent partner.
development application: Oct 4, 2013
completion (estimate): (Fall 2020)?
status: 5th floor forming starting flying table forming stages
Bazis past history was to submit development application for a condo tower project that'll take them about 7-8 years to complete (typically 2 years longer than others). Thus, to maintain Bazis condo development pipeline, I expected Bazis to submit condo development application in 2015 and then in 2017,.... but instead of condo towers, Bazis focused on stacked townhouses. Huh??? Toronto is in a condo boom, every condo builder and their grandmother building condo towers!,... and condo tower builder Bazis switches over to townhouses??? Why?? Because stack townhouses usually takes about 3-4 years from development application to completion,.... Townhouses look like filler project for Bazis as they finish up their e-condo and 1 Yorkville project!
But now it looks like Bazis townhouse project are being sold off to other builders,....
Bazis' Estates On Bayview - stacked townhouses with 20 units at Bayview & 401
development application: Dec 21, 2015
completion (estimate): (2018-2019)
Bazis got upzoned for townhouses then land severance granted at CofA
Bazis seem to have sold project to RUP who'll do EmpressPark townhouse
http://urbantoronto.ca/forum/thread...york-mills-bazis-planning.23608/#post-1270294
Bazis' OASIS on Lawrence - stacked townhouses with 54 units on Lawrence West near Allen Rd
development application: Sept 15, 2016
completion (estimate): (2019-2020)?
Status: Development application WITHDRAWN a couple month after submission
Recently resubmitted as OASIS Townhomes on Lawrence - looks like 12 unit townhouse with Suriano Architectual Design
http://urbantoronto.ca/forum/threads/toronto-oasis-townhomes-on-lawrence-15m-4s-bazis-suriano.26120/
Bazis Canada is not a large developer like Menkes or Tridel that have multiple divisions and assets. Tridel group includes their own in-house construction company Deltera, Del Realty sales team, Del Property Management, DelSuites Furnished Rentals, Del Condominium Rentals, etc,... Bazis Canada is like a "pop-up" developer, they only came here for the condo-boom, they contract everything out (TMG builders for construction, BakerRealEstateInc for marketing, FirstServiceResidential for property management, NewConceptBrokerage (Century21/RoyalLePage) to sell remaining and defaulted units, etc,... ); Bazis Canada is NOT here to stay! Bazis Canada was never set up to stay,.... minimal assets here, everything is contracted out and Bazis screws over everyone - customers, clients, contractors, partners, city staff, TTC, councillors, etc,.... Bazis Canada never planned to stay.
Bazis Canada is really just a Mom&Pop boutique developer (most principle quickly approaching retirement age!): President Michael Gold and his wife Veronika Belovich (Director of Sales and Marketing - her father is Bazis International tycoon owner in their home country Kazakhstan) and architect Roy Varacalli,.... and it's obvious the next generation - Jonathan Gold - shouldn't be in this line of business. Is Bazis International tycoon in Kazakhstan willing to trust the young Johnathan Gold?
Architect Roy Varacalli is probably the most talented architect currently stationed in Toronto; you think Roy Varacalli is happy going from designing signature condo towers to townhouses??? It looks like Roy Varacalli joined Cusimano Architects
https://condonow.com/Edge-Towers
So what's going on here???? Bazis acquisition of this property is in character of the old Bazis - good properties at or near subway interchanges for condo development. Will Bazis really design and build a 1 Yorkville twin tower here??? A development application will take about 2 years for approval/denial,.... just in time for 1 Yorkville to complete. Then the question becomes will Bazis actually build? The way Bazis buys blocks of contractors/builders and move them from one project to the next means there'll be a 2-4 year gap here that'll need to be reset. Bazis' Estate On Bayview project really just turned out to be an UpZoning and Sell exercise,... Bazis' original 1 Bloor East project was also ended up being an UpZoning and Sell exercise,.... although that was more of a forced sale due to Lehman Brothers bankruptcy and Bazis failure to find other financing.
Needless to say,... this site will be interesting to watch,....
Last edited:
stjames2queenwest
Senior Member
Maybe they sold those other projects off in order to focus on this one that I imagine would be more profitable and definitely higher profile
maestro
Senior Member
An opinion I don't share.
Half the developers will disappear overnight should the boom come to a screeching halt. It's common in this industry to have a father step down and a son take over regardless of merit. Bazis has built relationships with Metropia and Plaza(corp). That's all it takes for a mom and pop to dream big. (Streetcar with DreamReit; Concert Properties with OMERS, etc.) To summarize, why are you singling out Bazis for something that it common across the industry?