Project Essentials / dataBase – detailed project information, floor plans, renderings
Projects & Construction Thread
11 Yorkville 
11 Yorkville Avenue, Toronto
Developer: Metropia, Capital Developments, RioCan REIT

11 Yorkville | 213m | 62s | Metropia | Sweeny &Co

Discussion in 'Buildings' started by innsertnamehere, Nov 1, 2017.

  1. innsertnamehere

    innsertnamehere Superstar

    Joined:
    Mar 8, 2010
    Messages:
    11,439
    Likes Received:
    4,690
    Location:
    Hipsterville
    Bazis bought this land assembly for $45 million, 0.307 acres. Also includes 18 cumberland and 17 Yorkville.
     
    #1
    UrbanLurker and ADRM like this.

  2. ChesterCopperpot

    ChesterCopperpot Senior Member

    Joined:
    Jul 4, 2012
    Messages:
    3,159
    Likes Received:
    2,881
    Location:
    Toronto
    Someone has been browsing Realnet today
     
    #2
  3. Automation Gallery

    Automation Gallery Superstar

    Joined:
    May 5, 2007
    Messages:
    10,985
    Likes Received:
    1,040
    Location:
    South Parkdale
    So the 9 storey office bldg. right behind of where they're building
    https://goo.gl/maps/XkAhvQjkEft
     
    #3
  4. innsertnamehere

    innsertnamehere Superstar

    Joined:
    Mar 8, 2010
    Messages:
    11,439
    Likes Received:
    4,690
    Location:
    Hipsterville
    #4
  5. maestro

    maestro Senior Member

    Joined:
    Apr 23, 2007
    Messages:
    6,380
    Likes Received:
    1,367
    converted to residential decades ago.
     
    #5
  6. ProjectEnd

    ProjectEnd Senior Member

    Joined:
    May 28, 2007
    Messages:
    7,520
    Likes Received:
    4,852
    Big changes coming here.
     
    #6
  7. ADRM

    ADRM Senior Member

    Joined:
    Oct 2, 2015
    Messages:
    3,647
    Likes Received:
    6,730
    Another Yorkville Varacalli, then, one might assume.
     
    #7
  8. ProjectEnd

    ProjectEnd Senior Member

    Joined:
    May 28, 2007
    Messages:
    7,520
    Likes Received:
    4,852
    Not exactly.
     
    #8
    ADRM likes this.
  9. maestro

    maestro Senior Member

    Joined:
    Apr 23, 2007
    Messages:
    6,380
    Likes Received:
    1,367
    interested and scared at the same time
     
    #9
  10. DonValleyRainbow

    DonValleyRainbow Senior Member

    Joined:
    Mar 5, 2014
    Messages:
    2,676
    Likes Received:
    1,634
    Location:
    Kay Gardner Beltline Trail
    upload_2017-11-1_16-5-26.

    upload_2017-11-1_16-6-8.
     
    #10
  11. enrigue8

    enrigue8 Active Member

    Joined:
    Jan 31, 2016
    Messages:
    348
    Likes Received:
    375
    Location:
    Quebec city
    It's sound interesting !
    I just hope that this building will honor
    1 Yorkville and 1 bloor in term of design.
     
    #11
  12. WislaHD

    WislaHD Senior Member

    Joined:
    Sep 21, 2013
    Messages:
    6,072
    Likes Received:
    2,857
    Location:
    Midtown Toronto
    You could describe my feelings to every Yorkville tower proposal that way.
     
    #12
  13. sunnyraytoronto

    sunnyraytoronto Senior Member

    Joined:
    Jan 12, 2009
    Messages:
    1,529
    Likes Received:
    337
    Location:
    Willowdale 150 Canada
    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,....
     
    Last edited: Nov 2, 2017
    #13
  14. stjames2queenwest

    stjames2queenwest Senior Member

    Joined:
    Sep 9, 2014
    Messages:
    2,540
    Likes Received:
    2,120
    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
     
    #14
    Ottawan likes this.
  15. maestro

    maestro Senior Member

    Joined:
    Apr 23, 2007
    Messages:
    6,380
    Likes Received:
    1,367
    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?
     
    #15

Share This Page