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

[licious]

Thats total bullshit,i know a couple of people that invested in this development and they have not been told anything to date.
By the way the owners of what?

I meant the buyers. My property manager is also a real estate agent, and he had clients that had bought into this project. He mentioned that the project had been canceled.

I was only interested in this project because my parents bought a unit in Emerald Park, so I was just curious to know what was going on with the builder. Anyways, you can believe what you want. I could care less either way.

 

[archetype]

I also heard from a couple of real estate agents that 1BE was cancelled, but guess what? They don't really know anything more than most people, and unfortunately are making these statements based on the same rumours we've all heard. The fact is, the project is still very much alive, provided that the deal for financing with a European pension fund satisfies BAZIS, and they've extended their deadline to March in order to finalize the deal and approve it. This is what has been reported by BAZIS officials, and what the sales agents on site - who are still open for business - are saying as well. If people were being offered refunds, then why is the sales centre still open? Once again, I say let the process unfold, as with any other project, and don't read too much into what the average agent says. They're less informed than most of us realize.

 

[yyzer]

If this project was really cancelled, and they were giving back purchasers' deposits, it would be all over the newspapers...

/just sayin...

 

[TKTKTK]

To add fuel to the fire:

I heard, not that the building was cancelled, but that they'd discovered the soil conditions or whatever weren't suitable for 80-odd stories and that they've had to scale it back into the neighbourhood of 60 stories.

Might account for the mixed messages about some purchasers being told their units were cancelled.

Also, it's probably more baseless nasty rumour (though this comes from the architecture community, not real-estate peons)

 

[BobBob]

^ No offense, but that one definitely sounds like BS.

 

[TKTKTK]

^ No offense, but that one definitely sounds like BS.

No offense, but they all do. Just passing along the message

 

[cdr108]

No offense, but they all do. Just passing along the message

It is possible there could be soil issues.

If I recall, Radio City north tower's construction was delayed because they found a stream running through the site that required additional supports and work for the building's construction.

Maybe something similar is happening here. With the added confines of this site, who knows.

 

[dt_toronto_geek]

Last week I watched Megastuctures on the National Geographic channel featuing the construction of the Burj Al Arab Hotel. They engineered and built this 321M monster on the edge of a fault line, to withstand hurricane force winds off the shore of a beach. Streams or poor soil conditions are very workable.

 

[cdr108]

Last week I watched Megastuctures on the National Geographic channel featuing the construction of the Burj Al Arab Hotel. They engineered and built this 321M monster on the edge of a fault line, to withstand hurricane force winds off the shore of a beach. Streams or poor soil conditions are very workable.

I don't disagree that they are workable.
It's just a matter of if the developer is willing to put up the $$$ to do it.

Burj Al Arab hotel was financed by the Sultan I believe; and meant to be a 'showcase' of their wealth and achievements.

 

[DaninToronto]

Given the amount of money invested in this project, I think they are going to do everything they can to see this project go up and despite what some real estate people think, I'm sure the company is keeping a tight lip on it.

 

[dt_toronto_geek]

I don't disagree that they are workable.
It's just a matter of if the developer is willing to put up the $$$ to do it.

Burj Al Arab hotel was financed by the Sultan I believe; and meant to be a 'showcase' of their wealth and achievements.

Whether there are poor soil conditions or if a river runs through it, I can't see it affecting the height. I drew the contrast to the Burj Al Arab because whether it reached 30M or 320M it was built off the coast of the Persian Gulf on reclaimed land. Why reduce 1BE to 60 levels when they can go with 81? If there is any credence to this latest rumour flying around about a reduction in height, it's more likely due to sales or financing, not engineering issues.

 

[Automation Gallery]

I swear there are people at home trying to figure out what is the next bullshit rumour that they can throw in to this thread of 1BE
UNFREAKIN BELIEVABLE

 

[cdr108]

Whether there are poor soil conditions or if a river runs through it, I can't see it affecting the height. I drew the contrast to the Burj Al Arab because whether it reached 30M or 320M it was built off the coast of the Persian Gulf on reclaimed land. Why reduce 1BE to 60 levels when they can go with 81? If there is any credence to this latest rumour flying around about a reduction in height, it's more likely due to sales or financing, not engineering issues.

Well I agree with you about that ...
They are probably using a contractual loophole that allows them to cover their butts and change the project, etc.

 

[Kamuix]

ssp changed it's status to stale proposal

and i REALLY hope this tower eventually gets built, it's awsome

 

[archetype]

Good Lord, do 'stale proposals' have sale offices open, actively trying to sell units? Do stale proposals include projects where the vast majority of units have been pre-sold? We are going from the sublime to the ridiculous. THIS BUILDING WILL BE BUILT.