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

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Solaris said:
additional report from Novae Res Urbis ... some info repeated ~

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However, Gold pointed out that on July 13 Bazis bought Hayden Street, a lane bordering the site’s southern end
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For the UT'ers out there who like details, this is incorrect, they did not buy Hayden Street on the south of the site, they purchased Roy Square.
 
confusion said:
For the UT'ers out there who like details, this is incorrect, they did not buy Hayden Street on the south of the site, they purchased Roy Square.
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Roy Square was purchased years ago. Hayden St. was purchased July 13th (in addition to Roy Square) as the article states.
 
Tuscani01 said:
Roy Square was purchased years ago. Hayden St. was purchased July 13th (in addition to Roy Square) as the article states.
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x2.

I wonder what "purchasing" Hayden St. really means. There is a row of businesses on the south side including Biryani House (itself a Roy Sq refugee).
 
^^ Sorry, both wrong. Roy's Square was purchased as part of the assembly years ago, and Hayden Street, which serves numerous properties other than Bazis, remains a public street as it has always been. The purchase which was just closed was of a dead-end lane which ran north from Hayden Street, immediately to the rear of the former Bank of Nova Scotia property. This lane cannot be seen any more, it disappeared during the demolition last year.
 
Observer Walt said:
^^ Sorry, both wrong. Roy's Square was purchased as part of the assembly years ago, and Hayden Street, which serves numerous properties other than Bazis, remains a public street as it has always been. The purchase which was just closed was of a dead-end lane which ran north from Hayden Street, immediately to the rear of the former Bank of Nova Scotia property. This lane cannot be seen any more, it disappeared during the demolition last year.
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That's right. It was short lane that ran off of Hayden street, probably for around 50 feet, and ended up in the pedestrian walkway in Roy Sq.
 
Gary Berman's association with Aura

I just noticed something a bit odd. Gary Berman used to work for Canderel Stoneridge the builder for Aura at College Park. Now he's leading a group who's goal is to force 1 Bloor into receivership. Canderel would benefit immensly if 1 Bloor was chopped down or cancelled as they still have many executive level and penthouse units for sale at Aura. Even if 1 Bloor is reduced to 68 floors, Aura would become the tallest condominium by floors and the market would be flooded with buyers for luxury units. It would almost certainly guarantee that Aura will be built.



Solaris said:
Background on Gary Berman from website for Tri Continental Capital Ltd. (Tricon) - http://www.triconcapital.com/

Gary Berman – Partner

Gary Berman is a Partner of Tricon and is responsible for fundraising, investment strategy and for the sourcing, underwriting and management of investments in the United States and Canada. Prior to joining Tricon in 2002, Mr. Berman was a Development Officer for Canderel Stoneridge Equity Group where he managed the conversion of the former Massey Harris office headquarters into loft condominiums and the development of DNA (Downtown’s Next Address), a 550 unit condominium project, in Toronto. Before joining Canderel Stoneridge, Mr. Berman worked in New York City as an Associate in Real Estate Acquisitions for the Blackstone Group and as a Financial Analyst in Real Estate Advisory for Goldman Sachs & Co. Mr. Berman is the co-founder of the PUG Awards, an on-line awards and educational outreach program established to increase architectural awareness and elevate planning and design standards in Toronto. Mr. Berman received an MBA from Harvard Business School where he was designated a Baker Scholar, and a Bachelor of Commerce from McGill University in Montreal, Quebec where he graduated first overall in the Faculty of Management.
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Yeah, it's been noted. And also that another of the groups trying to force the receivership is Minto, who just recently killed their Yorkville project on St. Thomas.
 
Perhaps the city, with all the money it's saving from the strike, could purchase the property, build a nice (though temporary) city square, then resell the property in ten years or so (or whenever the next boom is) for a healthy profit. Just an idea.
 
Getting back your deposit

Getting back your deposit is not easy as you think. I purchased a unit in the Couture project (Bloor/Jarvis) of Monarch last year because I did not want to buy from an unknown builder who is not Canadian (I don’t like taking risks). Lately I read on the Couture forum (in this website) that the builder removed the 5 top floors, which means that my unit does not exist anymore. I contacted the sales office and they confirmed that the building will be 40 storeys instead of 45. I decided to ask for my deposit back, but they totally ignored me without giving me even one update or calling back. Only after my lawyer contacted McMillian who holds the in-trust account, I got a phone call from McMillian and when I told them that Monarch removed the 5 top floors they were totally surprised because no one from Monarch told that news. As of now, my deposits were released back to Monarch (worse case scenario); it's no longer in the in-trust account. I don’t want any interest just want my money back, but I'm quite sure that it won't happen anytime soon :(
 
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