Toronto eCondos | 195.67m | 58s | Bazis | Rosario Varacalli

UD2 said:
I was actually referring to why they were not able to be refinanced after LB went under. But you Are right, everybody was imploding and nobody was Paying any attention to Torontos prospects
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Credit-worthy companies were unable to get 5-day loans to make payroll in that period due to a liquidity squeeze. Bazis couldn't have had a more inopportune time to be searching for financing, as almost all commercial lending essentially froze.

There's also no real financing available for large-scale real estate in Canada. All the banks who do big ticket RECM are based in New York, London or Paris.

BNP Paribas -- a France-based bank -- is one of the biggest RECM players and finances a lot of development in Canada. But try finding me a major skyscraper that was financed in Toronto.

Sun Life and Manulife are actually bigger in CREF than the Big 5 banks.
 
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Personally I think that some people take an overly and undeviatingly negative view towards Bazis because they've been portrayed in the media as predominantly Kazakh. Cue the unconscious bigotry and xenophobia left over from the Cold War.

But whatever. The same alleged criticism didn't stop Bazis from completing Crystal Blue (mediocrely) or starting Exhibit.

I mean, if they're as "incompetent" as some detractors make them out to be, Exhibit will be a complete charlie foxtrot, right?

But unless I've missed something, I sure haven't seen anyone predicting that.
 
Northern Magus said:
Personally I think that some people take an overly and undeviatingly negative view towards Bazis because they've been portrayed in the media as predominantly Kazakh. Cue the unconscious bigotry and xenophobia left over from the Cold War.
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Well, it isn't just the Kazakh part. Don't forget how Borat turned everything Kazakhs-in-North-America into a punchline. (Which, in terms of Yonge + Eg, is ballasted by the area's erstwhile reputation as, I dunno, Czechoslovakian Wild & Crazy Guy Central or something)
 
CN Tower said:
Enviro, that's exactly my point. They are not experienced developers! I'm not suggesting that they are Al Quaida sympathizers, I am merely saying that they are amateurs. They blew into town, pulled off a ridiculous marketing circus with staged buyers waiting in the cold and changing prices overnight, blasted a hole at arguably the busiest intersection in the country, and then crashed and burned hard. And 3 years later there's still a hole.
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They are experienced developers ( http://www.bazis.kz/en/buildings ) but locally they are new and didn't have any completed Canadian projects at the time of the financial crisis. Three years later there is no hole... they sold the property and everything they are working on is moving along normally. If Bazis is a bunch of amateurs (considering developing is their role, not financing) the the Royal Bank is a bunch of morons considering they couldn't make their US operation work. Bazis is still around and developing.

Bazis destroyed an intersection? Was that Harvey's an architectural gem? What am I missing?
 
more importantly if this thing actually gets built then it could potentially end up causing many more 50+ condos to be proposed for the area. The area has been resisting density dispite the positive impacts of Minto... Would the condos that are to be built where the TTC bus station is, be re-evaluated and built taller?
 
sixrings said:
more importantly if this thing actually gets built then it could potentially end up causing many more 50+ condos to be proposed for the area. The area has been resisting density dispite the positive impacts of Minto... Would the condos that are to be built where the TTC bus station is, be re-evaluated and built taller?
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TTC doesn't want condo on its site, but office towers, as they will bring in more revenue.

Nothing is going to happen on that site until the Crosstown line and station is built over the next 10 years.

If this city as well any other city wants to grow and support new residents, it has to go up. This fear on hight is small today, as today tall buildings will be the norm for midrise 20-50 years down the road. We will start to see that 100 to 125+ stories towers not to far down the road considering it has taken Toronto 50 years to develope the lands in this area after the subway arrived.

As for Harvey's, its was a store and they just moved to the east.

Even though I am in the area off and on, nothing stands out to me at this time without doing a photo shoot to see if anything is worth saving at this time.

Considering this was farm land when the subway open, most places are less than 50 years old.
 
That is not a condo proposal. It is a massing diagram to show what could be built there using the permitted density and height for the block as part of the Yonge-Eglinton Secondary Plan.
 
There was a plan at one time to build a new office tower / head office for Canadian Tire on the Site of the bus terminal. The plan was to put the bus terminal underground. canadian Tire's head office is currently in the south tower on the SW corner of Yonge Eginton.
 
Big Daddy said:
There was a plan at one time to build a new office tower / head office for Canadian Tire on the Site of the bus terminal. The plan was to put the bus terminal underground. canadian Tire's head office is currently in the south tower on the SW corner of Yonge Eginton.
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TTC still has a sugar plum vision to have the bus terminal under the new towers once the Eglinton Crosstown Line station is built. Who will be in those towers is unknown at this time. Time will tell if it is office or condo or both.
 
Big Daddy said:
There was a plan at one time to build a new office tower / head office for Canadian Tire on the Site of the bus terminal. The plan was to put the bus terminal underground. canadian Tire's head office is currently in the south tower on the SW corner of Yonge Eginton.
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the current bus terminal already is under a building though. do they not find the current status quo adequate for their needs?
 
EnviroTO said:
Bazis destroyed an intersection? Was that Harvey's an architectural gem? What am I missing?
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I think it's more a matter of dense urban fabric, Roy's Square and all, being replaced by a black-hole void. A void, not a Hudson's Bay Centre bunker...
 
adma said:
I think it's more a matter of dense urban fabric, Roy's Square and all, being replaced by a black-hole void. A void, not a Hudson's Bay Centre bunker...
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I get it. Crap good, void bad. Here I was enjoying seeing the sky and attractive buildings unobstructed by the crap when I really should have been protesting the destruction of an intersection. Without the crap people don't know that it is an intersection any more. They are walking aimlessly, diagonally even, across Yonge and Bloor.
 
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