After one highly publicized false start, the big dirt pit on the southeast corner of Yonge and Bloor is finally in the process of being transformed into a 70-storey condo tower/shopping complex. Here’s a look at what to expect.

Jacob Rutka – The Grid

Back when it was set to be Canada’s tallest condo building, much was written about the proposed structure on southeast the corner of Yonge and Bloor. Media attention focused on the $25 million penthouse suite, the prestigious address, and the fact that over a hundred people lined up on several cold November nights in 2007 to stake out property in the building. (Some were reportedly paid upwards of $2,000 to do so.)

However, if late-2007 marked the pinnacle of excitement surrounding 1 Bloor St. E., the financial crash of 2008 triggered its downfall. According to reports, Kazak-based developer Bazis International ran into trouble when their banker, Lehman Brothers, teetered towards the brink of bankruptcy. Unceremoniously, the vacant lot was purchased by Great Gulf Homes in September 2009 and plans for the site were put on hold.

In late-March 2010, without the level of excitement that surrounded the property in its earlier incarnation, Great Gulf unveiled its new plan for a 65-storey structure called One Bloor. Regardless, according to Great Gulf’s executive vice-president of sales and marketing Bruce Freeman, public reception has been favourable. “The building has been designed specifically as a prestigious landmark at the corner of Yonge and Bloor, and so far we have about 90% of it sold,” he says.

In mid-July of this year, construction once again began at the One Bloor site. Freeman says that, if things go smoothly, the project should be finished in three years’ time. Here’s a look at what to expect from the building.

– Boasting a sleek, fluid design, the condo will now reach 70 storeys (instead of the original 65), with three floors—a reported 100,000 sq. ft.—of proposed retail on the lower levels. Though Freeman could not confirm any specific companies vying for retail space, previous reports have suggested that Apple Canada may be interested in opening a store at One Bloor.

– Designed by Toronto-based architectural firm Hariri Pontarini, also responsible for the Schulich School of Business and the forthcoming Shangri-La Toronto. According to architect David Pontarini, One Bloor is described as a “contemporary high rise with the aesthetic and purity of modernism.”

– The property will now house 732 condo units, ranging in size from 530 sq. ft. to 1,727 sq. ft., and from $511,990 to $1.7 million.

– The penthouse may be as large as 8,000 sq. ft.

– Award winning design firm Cecconi Simone is responsible for the building’s interior design.

– Amenities abound: 27,000 sq. ft. of spa/resort-inspired interior amenities located on the sixth and seventh floors, including indoor pools, cold and hot tubs, ice fountains, a billiards room, bar, lounge, fitness room and yoga studio, plus a 19,000 sq. ft. outdoor space with a series of pools.

– On-site 24/7 concierge and underground parking will be available.

– Direct access to Yonge and Bloor subway lines.

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Contact Laurin Jeffrey for more information – 416-388-1960

Laurin Jeffrey is a Toronto Realtor with Century 21 Regal Realty. He did not
write these articles, he just reproduces them here for people who are
interested in Toronto real estate. He does not work for any builders.
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