Toronto - 80 story Condo at 1 Bloor/Yonge - on the edge of extinct

'If I lose 1 Bloor, I don't just lose a deal - I lose my dream."

The gleaming 80-storey condominium tower that was to lead the revitalization of the Yonge-Bloor intersection in Toronto is teetering on the edge of extinction.

Anna Cass had the distinction of being one of the first people in line to buy a unit at 1 Bloor in what she figured was a special property.

"We rented a room at the Marriott and took shifts," says the Royal LePage realtor. "I didn't invest in a property to flip. I wanted to live there."

Cass eventually chose a nearly 1,300-square-foot unit for herself. She remembers the name. It was called the Dream 1290.

"I hope this isn't poetic justice, that it was all a dream," says Cass. "If I lose 1 Bloor, I don't just lose a deal - I lose my dream."

Cass said some purchasers who had units on the higher floors received letters this month telling them that their units would not be built, since the tower would not be as tall as originally planned.

One of those purchasers called Cass asking if she could repurchase another unit in the building.
"They still want to live in this building. It really is a great spot," says Cass.

"It has the location, the amenities. There's a hotel. People around the world knew about it."
Cass did not say what she paid for her unit, but she figures it would be worth "at least" $300,000 to $400,000 more today.

She also sold several units to her clients.

"I believed in this project, and I wouldn't tell anyone else to invest if I didn't personally think it was a good project," she says.

Cass said she hasn't received any information lately from developer Bazis International about the status of the project.

And she has not heard about a possible receivership.

"I thought for legal reasons they weren't commenting. But as far as I know, the project is still going ahead," she says. "I thought they were still solid."