I'll give you guys some inside info. I was looking for another building and somehow came across this post. Anyways, some facts to let you know...
1) Had been told by an undisclosed person with the owner himself in a meeting that the property was for sale. Problems in financing.
2) Had been asked to get a buyer. Had got 2 other builders willing to buy at the absurd amount as there was still profit to be made.
3) Story had changed that he was no longer selling. Bazis himself stated after proposal and price acceptance.
No matter what, there are a few locals willing to pick this up at the hefty price tag he is asking, yet he is indecisive. We're just waiting like yourselves to find out what the next move is as others are hoping to get the property.
That's the short version of the story. As for the PCL rumour, I dont' know. We never bothered asking as the buyers are builders and our main goal is to take this off the current owners hands. We also have a project design currently for a property just north of Yonge and 401. 1 of the 5 properties are currently not closed, so I cannot state the site. It will be a mix of commercial, residential, and possibly medical in one. The design has changed twice now but it is in a pretty good location.
Anyways, if this thing switches hands, i'll let you guys know. All in all, this thing is still going on. For now.