Luxury Condo-Hotel One Bloor St East

The building site where the $450 million, One Bloor East Condos were to be built has been sold by developer Bazis International to a yet to be revealed "well established Toronto Developer" with a closing mid-September.

In 2007 Toronto Condo buyers lined up for more than a week to purchase units for $500,000 and up, including a Luxury penthouse that sold for $25 million.

It now appears 500 Condo purchasers will not live in Toronto's proposed highest Condo tower. There are $70 million in buyer deposits to be returned from the original project.

The original plans for the tallest Condo building in Canada would have added to the now levelled corner of Yonge and Bloor Streets.

1 Bloor was to have 592 units, a luxury Hotel with 126 suites and three retail floors for office and other commercial spaces.

It was possible that the Concourse levels, Hotel and Restaurants would begin to influence Yonge St South in a positive way bringing rejuvenation to a tired and ignored area of the City.