s2kdarren
New Member
i just hope its not an eyesore as one of my balconies faces the future building.. i live on parkview across the street. i haven't seen any workers all week yet.. but i imagine them to show up anyday now
- Thread starter luxome
- Start date
UrbanPrincess
New Member
has demo started on this site? Does anyone have the final reports for the OPA/Rezoning by any chance? there is nothing listed
investican
Active Member
Walked by the site today. Still just fenced up. Most likely, they just ended the leases on all the same date on what they thought was relatively the same time where they'd have final permits. I'm not entirely sure on the status of the permits. Even with the tenants gone, its going to take a mandatory time for shutting off the water, cut electricity and shut off the gas. Demo on this site for being right on yonge is a little more complicated but they will knock down the buildings from behind in the parking lot.
drum118
Superstar
July 14
Everyone is gone, by the sales office.
Everyone is gone, by the sales office.
aibo
New Member
I dropped by the sales office last week. They said the construction starts in 3 months. Not sure, what accurate this date is.
drum118
Superstar
Aug 27
The first piece of equipment to start the demo is on site and looks like things will get underway in Sept.
The first piece of equipment to start the demo is on site and looks like things will get underway in Sept.
s2kdarren
New Member
ya they have that one piece of equipment...... too show off "hey we are about to do soemthing! i promise"
drum118
Superstar
Was by the site today and no changes so far other than the sales office is closed and been relocated to 51xx Yonge St.
I guess that one piece of equipment was for show and tell, as it is still in the same location.
I guess that one piece of equipment was for show and tell, as it is still in the same location.
AlbertC
Superstar
Better rendering from Kirkor.
Xray_Crystal_Junkie
Senior Member
Wow that is a busy design. There's really no flow to it at all.
urbandreamer
recession proof
Anyone heard anything re: @BlacktowerTV on twitter is saying?
luxome
Active Member
Wow, are you serious!? hmm...wouldn't you think the purchasers would be notified first? I'm not sure how i feel about this...could this be for the better or for the worse?
PS. i'm Sooo gonna Unfollow this guy if he's wrong, lol.
PSS. Just unfollowed him because i remember how much of an arrogant POS he was when i met him a year ago, lol.
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investican
Active Member
The project was supposed to be a JV with Liberty Developments.--Then they got Baywood to be project managers on the site.--then months after anticipated construction we are wondering whats going.
The reason it hasn't probably started construction would probably be they aren't available to get construction financing on the project. There would be a number of variables involved with this. Their agreement with Hilton for the hotel to be finalized and binding, # of presales, their "track record" of development.
The reason I highly doubt this is true is because Bazis got victimized by 'recession' when their financing partners lehman brothers went bankrupt and then their second choice kazak bank was denied over certain accounting irregularities at that bank they were left to continue their developments by bringing on two partners: Metropia and Plazacorp.
I don't even beleive at this time if the issue of obtaining construction financing for the project is the concern--bringing bazis on as a partner most probably wouldn't help to that fact. --also as a side not, I heard plazacorp is not jv'ing with bazis on anymore projects.Which doesn't surprise me much considering their history of getting into arguments with their partners/investors (that group shall not be named).
The reason it hasn't probably started construction would probably be they aren't available to get construction financing on the project. There would be a number of variables involved with this. Their agreement with Hilton for the hotel to be finalized and binding, # of presales, their "track record" of development.
The reason I highly doubt this is true is because Bazis got victimized by 'recession' when their financing partners lehman brothers went bankrupt and then their second choice kazak bank was denied over certain accounting irregularities at that bank they were left to continue their developments by bringing on two partners: Metropia and Plazacorp.
I don't even beleive at this time if the issue of obtaining construction financing for the project is the concern--bringing bazis on as a partner most probably wouldn't help to that fact. --also as a side not, I heard plazacorp is not jv'ing with bazis on anymore projects.Which doesn't surprise me much considering their history of getting into arguments with their partners/investors (that group shall not be named).
drum118
Superstar
I was by the site on Friday and the equipment has been moved to the sales office area.
A lot of broken glass in the old office driveway from the sales office and the windows are boarded up.
There is a lot of markings on the sidewalk related to utilities and new since my last walk by.
Other than that, nothing new. Sound like another project call Evolution Condos that still dead in the hole.
The current sales office is by appointment only during the week and open to the public on the weekend.
A lot of broken glass in the old office driveway from the sales office and the windows are boarded up.
There is a lot of markings on the sidewalk related to utilities and new since my last walk by.
Other than that, nothing new. Sound like another project call Evolution Condos that still dead in the hole.
The current sales office is by appointment only during the week and open to the public on the weekend.
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investican
Active Member
I heard today from a source close to the developer saying the reason for the lag in construction was because of TD backing out of financing construction after a term sheet was given. Now-- KEB is providing construction financing and now they are anticipating construction January.
He stated he knows nothing of any Bazis involvement in the project
He stated he knows nothing of any Bazis involvement in the project