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

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urbandreamer said:
^Mike, it's about the inability of Bazi's to get financing, correct?

Just look at www.autoblog.com for other financing news: in short, GM and Chrysler are no longer financing car purchases.

Imagine if lenders in Canada did that to financially insecure developers?!

If this tower gets built, I imagine it being whacked down to about 50 stories.

Should the guy who started the "rumour" be allowed back, in fairness?
Click to expand...

Should the guy who started the 'rumour' be allowed back? Never.

Should you be talking about things you hardly know anything about, and making assumptions without facts? Probably not either.

(The car companies stopped leasing because of the depreciation rates on returned cars. What does that have to do with condo development? And what makes this developer financially insecure? And why is 50 stories better than 80, when you have deposits for units on the 30 'whacked' off floors?)
 
I'm pretty sure this tower will go ahead, I don't see them backing out this late in the game. A few months ago, before sales, maybe...
 
^ Alklay asks some good questions. Fewer units is obviously not better than more units, and such a suggestion doesn't make much sense, for more than one reason.

The financing environment in North America is certainly different than it was a year ago. Having said that, a project that makes sense will still be financed. Bazis has had financing in place from a bank based in Europe, and although I'm not suggesting that their arrangements would be bullet-proof, I would expect more than a rumor which at this point is apparently baseless, before pressing any panic buttons.
 
Re: the car analogy: condo market pullback means the condo's aren't worth what the buyers paid for them!

Re: Bazis: Ever read their "marketwire" PR's? Ever read a pink sheet stock promotion's "marketwire" PR's? See any similarities? I do!

Why would the building be chopped down to 50 floors (or less?) Because another developer would be in control....

All speculation of course; remember, I'm just a real estate fan, not a real estate promoter!:p

I'm a fan of the "news and rumours" section of Vancouver's forum on SSP. Would it be possible to have a similar section on UT?
 
The individual in question is not banned from UT for the substance of what he has posted (i.e. postings of a speculative nature). He was banned for the fact that he has repeatedly abused other forumers AND circumventing the punishment for his actions by signing in with multiple user names and posting on a forum in which he has forfeited his right to participate in.

AoD
 
Urbandreamer, I'm not going to get into any specifics. Only time will tell as its an evolving situation and Bazis is obviously working diligently to keep things moving.
 
This would be a major dissapointment to Toronto if the one project that promised revitalization would fail. Imagine a nice big surface parking lot at Yonge-Bloor... Terrifying thought, really.
 
urbandreamer said:
^Mike, it's about the inability of Bazi's to get financing, correct?

Just look at www.autoblog.com for other financing news: in short, GM and Chrysler are no longer financing car purchases.

Imagine if lenders in Canada did that to financially insecure developers?!

If this tower gets built, I imagine it being whacked down to about 50 stories.

Should the guy who started the "rumour" be allowed back, in fairness?
Click to expand...
He wasn't starting a rumour though. He was saying he knows for a fact that it's not going to happen without providing proof of his supposed knowledge.
That's spreading lies not rumours.
AlvinofDiaspar said:
And of course, 1bloormore happens to be using an IP anonymizer as well.

In addition, guess what's the email he used to sign up for the account? alvinofdiapers@gmail.com

AoD
Click to expand...

Oh my that is funny.
 
Forum drama aside, I'm not amused at the prospect of losing Roy Square only to have 1BE fall through as the economy tanks.

The B/A stump will have its revenge on Toronto.
 
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