Tag Archives: Silvio Arone

One Bloor new development

Condo tower breathes new life into intersection
Great Gulf’s 65-storey building at Yonge and Bloor
By Kris Scheuer
(Written April 1 for Town Crier)

New condo tower to be built at One Bloor East. Courtesy of Great Gulf Group.

One Bloor will rise again.
Great Gulf Group of Companies is building a 65-storey condo and retail project on the southeast corner of Yonge and Bloor streets on the same spot of the now defunct, much-hyped 80-storey tower by Bazis International.
All previous condo buyers got their money back from Bazis and will receive first dibs on the new condo project.
Corrado Di Rosa who bought into the previous project was happy to re-invest in Great Gulf’s condo tower.
“I’m on the 34th floor,” Di Rosa said March 31 a few days after purchasing.
He is confident this project will move forward.
“Because it was Great Gulf and I’m in the industry, I wasn’t hesitant (to buy) at all. I know their reputation,” said Di Rosa. Continue reading

1 Bloor condo buyers move on

Condo buyers will get deposits back with interest
Purchashers deciding where to buy next
By Kris Scheuer
(Originally published Sept. 8 for Town Crier)

Silvio Arone wanted to move from Woodbridge to downtown Toronto at 1 Bloor St. East.
He paid a deposit of about $100,000 for his piece of the pie in the sky that was to be an 80-storey tower at Yonge and Bloor Sts.
The proposed 500-unit project by Bazis International is now defunct and law firm Robins Appleby and Taub is in the process of refunding depositors money.
“I made my way to the law office to hand in my form to recover my deposit a few hours ago,” Arone said Sept. 3. “I’ll get my cheque a week or so later.”
He works as a project manager for a builder, so he never panicked over his money.
“I wasn’t concerned,” Arone said. “I trust the Condo Act.”
The Act states a lawyer for the property owner must hold deposits, plus interest, in a trust account just in case a project doesn’t get built.
For Arone it was more a question of having his money tied up.
“Our initial deposit was made in November, 2007 almost two years ago,” he said. “I was in limbo.”
Now he’s looking to move into a condo that’s already built. He’s currently considering Islington and Bloor or midtown. Continue reading