One Bloor

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One Bloor, previously One Bloor East and Number One Bloor, is a mixed-use skyscraper under construction at the intersection of Bloor Street and Yonge Street in downtown Toronto, Ontario, Canada. The project was initially launched by developer Bazis International Inc. in 2007, before being cancelled and re-developed under developer Great Gulf Homes. The two-storey buildings located on the site were demolished in December 2008. The 76-storey tower topped out in late 2015.HistoryThere have been several attempts to build a residential building at No. 1 Bloor Street East. In 2005, a 60-storey tower was proposed by Young and Wright. The site was sold to Bazis International and then to Great Gulf Homes. The site was formerly a two storey retail building with a Harvey's and City Optical on the ground floor, which was demolished once the One Bloor project proceeded.Bazis proposalIn 2007, an 80-storey proposal was announced with much fanfare by Bazis International. The existing two-storey buildings located on the site were demolished in December 2008.It was to be approximately 275m tall and was designed by Rosario Varacalli. The proposal called for a semi-transparent metal and glass tower with environmentally friendly and efficient technology. The building planned to include 189 hotel rooms and 612 condominium units.In July 2009, both the final scope and the eventual fate of the project were called into question. News reports stated that the height would be reduced to 67 storeys to reduce the construction costs. The Toronto Star also reported that a group of lenders sought to have their $46 million loan be repaid, or that the court allow them to buy the vacant land. The lenders reportedly made a failed bid of $50.5 million to Bazis for the land. Bazis purchased the site for $63 million in 2007, and cited the global lending crisis as a reason for the height reduction and the loan being in default.