Bazis International Inc.

Bazis International Inc.

April 05, 2007 10:30 ET

Bazis' New 1 Bloor Destined to Become International Signature for Toronto

TORONTO, ONTARIO--(CCNMatthews - April 5, 2007) -

Editors Note: A photo for this release will be available on the CP picture wire via CCNMatthews, the EPA and AP Archive.

When Bazis International made the strategic decision to extend its reach from Central Europe into the North American real estate market, it quickly targeted Canada and especially Toronto for its first projects, says Michael Gold, Director of Acquisitions and Finance for Bazis International, the North American arm of the giant international company.

The city has become a truly international destination for entertainment, culture and business, he says.

"We also knew that what we wanted to do was to create a signature project," he adds. "Toronto is more than ready for something so bold, so striking that it would become an instant icon, an internationally recognizable symbol of this city, reflecting its vitality and its growing global importance."

The result of Bazis' intensive research, planning and design was unveiled today: 1 Bloor, a $450-million mixed use project that incorporates 100,000 square feet of high end retail, a 120-room five-star boutique hotel and 500 ultra luxury condominiums in a tower close to 80 stories, the tallest residential/commercial building ever conceived for the city's downtown core.

"Bazis has made a name for itself in Europe and Central Asia for its bold, expansive signature projects," he says. "We intend to do this in Toronto, this magnificent city."

He cites the example of its Circular Plaza project in the Kazakhstan capital of Astana. This sweeping project encompasses 760,000 square feet of commercial office and retail space and has become headquarters for the National Ministry of Transport and Kazmunaigas, which operates vast central European natural gas fields.

In old St. Petersburg on the eastern shores of the Baltic, Bazis is creating a development of 300,000 square feet of residential space plus 50,000 square feet of retail shops in six buildings in the heart of the city centre.

All told it currently has 35 different projects under development around the world.

"I admit we were eager to create something of similar sweep and ambition in Toronto," he adds. "To do that we needed the right site. The southeast corner of Yonge and Bloor Streets perfectly fits those requirements."

As Mr. Gold points out, 1 Bloor is Canada's most recognizable and indeed, most prestigious address, the very heart of the city that is the very heart of the country.

"It is a site, which has already attracted enormous international attention," he says. "Both from national, international and regional retailers and from individuals and corporations looking for a pied-a-terre or home at Toronto's most celebrated address."

The three levels of retail will be in a podium, which will occupy the entire site, from Bloor south to Hayden Street and running east to existing office buildings. Each floor will be 20 feet in height. Bazis expects 1 Bloor to be the same sort of catalyst as the rejuvenation of Times Square in New York, a showplace for top-brand retailers.

On the upper level of the podium will be a signature restaurant and lounge overlooking the Bloor and Yonge intersection. The rooftop will have a beautifully landscaped terrace, available to both hotel guests and condominium residents.

The spectacular tower will rise from the centre of the podium. It was designed by Bazis' celebrated architect Roy Varacalli. The first four floors will be dedicated to a luxury five-star hotel, which will offer 120 rooms plus all the services and amenities expected from a deluxe international chain.

The remainder of the tower will be home to about 500 luxury condominiums, which will range in size from 550-square feet, one-bedroom suites to expansive 10,000-square-foot penthouses.

"I am very pleased to see this project moving forward," said Kyle Rae, City Councillor for Toronto Centre at the unveiling. "The intersection of Yonge and Bloor is an important Canadian crossroads. This new development will give the area a much needed facelift and will add $ 2 million towards the Bloor Street transformation project - a benefit to both the local residential and business communities."

"What I can promise is that every aspect of 1 Bloor will live up to expectations," says Mr. Gold. "This is a project, which will instantly become a recognizable symbol of Toronto and firmly establish its presence on the international stage."

To view a photo of 1 Bloor, please click the following link:

http://www.ccnmatthews.com/docs/bazi.jpg

MULTIMEDIA AVAILABLE:
http://www.ccnmatthews.com/em/2145

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