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

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posted by outinleftfield over at SSC:

"By the way, I remember there being a question a while ago about the stores to the south of Roy Square, down to Hayden. Well, tonight I saw a sign in the shoe store window, stating that they're closing June 30, for building demolition. I guess demo is starting at Roy Sq. then heading south in a 2nd phase of deconstruction."
 
I guesss we will finally get to see what is beneath the 60s renovation of what was originally a bank at the northeast corner of Yonge & Hayden.
 
i was in the shoe store a couple of weeks agon and they confirmed closure on June 30th.

Do people think the claim to the "tallest" hotel/residential/retail development holds up? What about Trump? No retail?
 
jaborandi said:
I guesss we will finally get to see what is beneath the 60s renovation of what was originally a bank at the northeast corner of Yonge & Hayden.
Click to expand...

You mean our answer to the Edward Durell Stone house?
034-64blexpk.jpg
 
I can't believe so many people are in denial about this. There is no way all those businesses would be shut down like that if there was doubt it was going to happen.
 
Oh, it'll happen, I'm just worried about what the lag might be between demolition and construction. Just look at what happened at Yonge/Dundas, or the Uptown and you'll see there's a precedent for that sort of fear.
 
Demolition runs amok!

During a ceremony marking the start of demolition of Roy Square, the machine unexpectedly turned northward and destroyed the Hudson Bay building.

Witnesses cheered...
 
Amazing news! 2 birdies with one stone?

Nonetheless, I look forward to the next press release issued the day after:


TORONTO, ONTARIO--(Marketwire - May 30, 2008) -

ATTENTION: Real Estate, News, Retail, Business, Photo and Assignment Editors, Insurance Companies, Gay Pride Organizing Committee

Mark 2 p.m. on May 29, 2008, on your calendars. That is the day and time that Kyle Rae slipped and belly-flopped at the corner of Yonge and Bloor, suffering enough brain trauma that his political future is now in limbo.

In the spirit of all great, staged photo-ops, Bazis' partners Michael Gold and Roy Varacalli, along with councilor Rae, climbed aboard a tracked excavator with a huge set of steel teeth that was planned to take a bite out of the existing building on the site. Unfortunately, Mr. Rae lost his footing and landed face first on the poorly-maintained sidewalk along the western perimeter of the site. After being flown by helicopter a few blocks south to St. Michael's hospital, Mr. Rae was treated for superficial cuts and bruises and released.

"The past as prelude to the future." says Mr. Gold. Kyle will have an MRI later this month and if there's any permanent brain damage detected, we'll be happy to work with his replacement.

-30-
Click to expand...
 
The Shoe Company has signs on its window saying they're closing on June 30th (citing: 'Building Coming Down')... so I guess the application for the south part of the site was approved.
 
299 bloor call control. said:
The Shoe Company has signs on its window saying they're closing on June 30th (citing: 'Building Coming Down')... so I guess the application for the south part of the site was approved.
Click to expand...


Makes one wonder what the final height will be - it’s pretty vague right now. Is it 76, 81 0r 80?

2528510916_ac23501144.jpg
taken from their website today.


If you havent checked out their website yet, you should - it has a great video. http://www.1bloor.com/
 
I'm getting the impression that both the 1BE and Aura developers are delaying their announcements of the final heights as long as possible. They both appear to want to have "the tallest condo building in Toronto", and may be waiting for the other developer to announce a final height, in order to have a chance to make sure that their own project is just a bit taller.

Shades of the old Chrysler / Empire State rivalry.
 
Concord would be hard pressed to compete with Aura or 1BE in terms of height, there aren't the same high-end retail options at Spadina and Bremner to support the costs of going that high (structural costs start to increase very significantly as one exceeds 60s - going from 60s to 80s is a very significant cost increase when compared to 20s vs 40s). Both Aura and 1BE are financially benefiting from the retail and hotel (1BE only) portions that can supplement the residential portion of the project. Location factors are mixed-use opportunities aren't as strong in Cityplace - although a lot can change between now and the launch date for the signature tower which is tentatively planned in 2009.
 
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