Toronto’s real estate world is buzzing with word of the sale

(Source: The Globe and Mail)

One of Toronto’s largest home builders will start fresh and develop a new mixed-use condominium at the site of the 1 Bloor luxury condo project after buying the property from its cash-strapped developer.

Great Gulf Homes confirmed Thursday it will take ownership of the site from Kazakhstan-based Bazis International Inc. in mid-September, writing a new chapter in a cautionary tale of marketing hype, frenzied sales and the crush of the global credit crisis.

Read the full article by Brodie Fenlon “Mixed-use’ condo to replace 1 Bloor project” in the Globe and Mail (August 20, 2009).

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