The chunk of downtown Toronto many call the best address in Canada – 1 Bloor – got a new owner this week as Bazis International handed the deed over to Great Gulf Homes. Behind that transaction is a tale of legal stick handling seldom (if ever) seen in Canadian real estate.
How the plan to build Canada’s tallest condo fell apart
Original deal for One Bloor felled by tripple whammy… Bazis will swallow an estimated $30-million…developer’s other projects such as Crystal Blu unaffected…
(Source: The Globe and Mail)
Read the full article by Terrence Belford “How the plan to build Canada’s tallest condo fell apart” in the Globe and Mail (September 18, 2009).
Further Reading on this subject? Click ‘here‘.