One Bloor East

One Bloor East

1 Bloor East is a mixed-use skyscraper planned to be constructed 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.

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 their $46 million loan be repaid or that the court allow them to buy the vacant 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. On July 22, 2009, the Star reported that Bazis has sold the property to privately held Great Gulf Homes, who had expressed interest in building a skyscraper on the site. The Bazis proposal died as a result of the sale.