Bazis' current product cycle only include e-condo & 1 Yorkville:
e-condo - black towers with red amenity floors and pool in the sky at Yonge&Eglinton (built with partner Metropia & RioCan)
development application: Dec 14, 2011
completion (estimate): (late 2019)?
status: mid-30s forming
NOTE: Bazis sold out their share in north tower rental apartment to partner RioCan
1 Yorkville - aluminum twisting fin exterior near Yonge&Bloor (built with partner Plaza),.... Hmmm, why is Bazis long time partner Metropia gone??? Metropia usually does some of the developer's Project Management whereas PlazaCorp is usually the silent partner.
development application: Oct 4, 2013
completion (estimate): (Fall 2020)?
status: 5th floor forming starting flying table forming stages
Bazis past history was to submit development application for a condo tower project that'll take them about 7-8 years to complete (typically 2 years longer than others). Thus, to maintain Bazis condo development pipeline, I expected Bazis to submit condo development application in 2015 and then in 2017,.... but instead of condo towers, Bazis focused on stacked townhouses. Huh??? Toronto is in a condo boom, every condo builder and their grandmother building condo towers!,... and condo tower builder Bazis switches over to townhouses??? Why?? Because stack townhouses usually takes about 3-4 years from development application to completion,.... Townhouses look like filler project for Bazis as they finish up their e-condo and 1 Yorkville project!
But now it looks like Bazis townhouse project are being sold off to other builders,....
Bazis Canada is not a large developer like Menkes or Tridel that have multiple divisions and assets. Tridel group includes their own in-house construction company Deltera, Del Realty sales team, Del Property Management, DelSuites Furnished Rentals, Del Condominium Rentals, etc,... Bazis Canada is like a "pop-up" developer, they only came here for the condo-boom, they contract everything out (TMG builders for construction, BakerRealEstateInc for marketing, FirstServiceResidential for property management, NewConceptBrokerage (Century21/RoyalLePage) to sell remaining and defaulted units, etc,... ); Bazis Canada is NOT here to stay! Bazis Canada was never set up to stay,.... minimal assets here, everything is contracted out and Bazis screws over everyone - customers, clients, contractors, partners, city staff, TTC, councillors, etc,.... Bazis Canada never planned to stay.
Bazis Canada is really just a Mom&Pop boutique developer (most principle quickly approaching retirement age!): President Michael Gold and his wife Veronika Belovich (Director of Sales and Marketing - her father is Bazis International tycoon owner in their home country Kazakhstan) and architect Roy Varacalli,.... and it's obvious the next generation - Jonathan Gold - shouldn't be in this line of business. Is Bazis International tycoon in Kazakhstan willing to trust the young Johnathan Gold?
Architect Roy Varacalli is probably the most talented architect currently stationed in Toronto; you think Roy Varacalli is happy going from designing signature condo towers to townhouses??? It looks like Roy Varacalli joined Cusimano Architects https://condonow.com/Edge-Towers
So what's going on here???? Bazis acquisition of this property is in character of the old Bazis - good properties at or near subway interchanges for condo development. Will Bazis really design and build a 1 Yorkville twin tower here??? A development application will take about 2 years for approval/denial,.... just in time for 1 Yorkville to complete. Then the question becomes will Bazis actually build? The way Bazis buys blocks of contractors/builders and move them from one project to the next means there'll be a 2-4 year gap here that'll need to be reset. Bazis' Estate On Bayview project really just turned out to be an UpZoning and Sell exercise,... Bazis' original 1 Bloor East project was also ended up being an UpZoning and Sell exercise,.... although that was more of a forced sale due to Lehman Brothers bankruptcy and Bazis failure to find other financing.
Needless to say,... this site will be interesting to watch,....
Half the developers will disappear overnight should the boom come to a screeching halt. It's common in this industry to have a father step down and a son take over regardless of merit. Bazis has built relationships with Metropia and Plaza(corp). That's all it takes for a mom and pop to dream big. (Streetcar with DreamReit; Concert Properties with OMERS, etc.) To summarize, why are you singling out Bazis for something that it common across the industry?