Tony Wong – Yourhome.ca

If anything kept him awake at night, says David Gerofsky, it was an overwhelming sense of responsibility.

“This is a larger-than-life project, and there were a lot of expectations,” said Gerofsky, president of the Great Gulf Group of Companies.

“So we had to do it right the first time.”

Gerofsky is talking about One Bloor. The mixed-use project at the intersection with Yonge St. has been the site of controversy since the original developer, Bazis International, became a poster child for the global economic meltdown last year.

“There is only one Yonge and Bloor. It’s not just the most important corner in the city, it’s probably the most important corner in the country,” Gerofsky said in an exclusive interview with the Star.

In advance of a Thursday news conference, Gerofsky talked about his company’s plans for the hotly anticipated project, and how he says it will transform the city.

The Star had a sneak peek at new renderings of the 65-storey, mixed-use building. They show how it will relate to the intersection upon completion – now estimated at the end of 2014.

The bold, futuristic building will feature a series of undulating curves designed by Hariri Pontarini Architects. The design is striking: More fluid and prettier than the original tower plans, but perhaps destined to create its own controversy over whether it fits into the landscape.

Interiors are by Toronto firm Cecconi Simone Inc., known for its cutting-edge style. Janet Rosenberg, one of Canada’s foremost landscape architects, is responsible for outdoor landscaping.

“We knew we had to get the design right – this had to be an iconic and special place,” said Gerofsky.

“This will be the most luxurious building in the city. We are sparing no expense.”

Instead of a hotel, as originally planned, pedestrians will be met at street level by 100,000 square feet of retail space. “I’m not convinced that the city needs another hotel,” said Gerofsky.

Retail space has not yet been rented, Gerofksy said, but sources say Apple Canada is one possible candidate anxious to get a foothold on pricey Bloor St.

“We have had a lot of interest from major international retailers, some of whom are not even in Canada as yet, but we’re thinking about it closely because this is our front door,” said Gerofksy.

Amenities on floors six and seven will be extensive, with 27,000 square feet of space for residents.

The sixth floor will feature a spa with treatment rooms and steam suites, and will have an outdoor terrace and bar. The seventh floor will house two pools, a fitness room and 19,000 square feet of outdoor space – a rare amenity for condos without a hotel component.

The building will not be Canada’s tallest residential tower, as Bazis had planned. The original 1 Bloor had 80 storeys and 801 suites, including 132 hotel suites. The new One Bloor (Gerofsky decided to delicately rebrand the project by spelling out the number one) will have 690 suites.

When units of the original 1 Bloor went on sale in 2007, people lined up for days to get inside the sales office. Prices kept changing as people waited in line, and the experience seemed to mirror a frenzy that characterized the market at its peak. The penthouse reportedly went for $25 million.

Prices for One Bloor will run from $390,000 to more than $1.5 million for units ranging from 530 to 1,724 square feet. That’s far above the $435-per-square-foot average for new projects in 2009, according to Urbanation Inc., but not out of line with luxury condominiums on the market today.

Former buyers of 1 Bloor will get a crack at the new suites before they go on sale in mid-April.

Great Gulf officials say there has been good response from the original 490 buyers who had placed about $70 million in deposits with Bazis.

That Kazakhstan-based developer ran into trouble after its banker, Lehman Bros., became insolvent during the 2008 financial crunch. It sold the property to Great Gulf in August. All original buyers have since received their deposits back.

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The sales center is scheduled to open in 3 weeks, however I have an exclusive invitation to beat the rush and reserve units for my preferred clients. The day after this pre-sale event prices will go up so if you are interested call me immediately.

I believe that this is an incredible opportunity. Whether you are interested in having a Yorkville address of your own or looking for a solid investment, this is definitely an opportunity to seize.

This is a high profile address – Bloor & Yonge is the heart of Yorkville, with access to the TTC, shopping and the best restaurants in the city.

This unique early access to pre-sale, guarantees that my clients will have advance choice of the most prime units available.  I strongly urge you to contact me at your earliest convenience if you are interested, as floor plans and prices will be available soon.

Please feel free to forward this note to your family, friends or colleagues who may also be interested as this is truly a rare opportunity.

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Contact the Jeffrey Team for more information  –  416-388-1960

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