The south east corner of Bloor and Yonge Streets sits empty, waiting  for the beginning of construction of a proposed 80-storey Luxury Hotel-Condominium Tower, with new retail stores and restaurants to take hold.

The builder, Bazis International negotiated a stay until August 18th for a review of a proposed immediate receivership by the project lenders.

The planned height of the luxury Condo Tower,One Bloor Street East, has been reduced to 67 floors to help lower construction costs. The purchasers of these Condo units will have their deposits refunded with an opportunity to purchase remaining units on the lower floors.

It was just two years ago that Toronto Real Estate Agents lined up for a chance to buy units at prices that increased in a matter of days. It was to be Canada's highest building, a real Toronto Landmark on one of the most desirable intersections.

We will try and have pictures from the building site when construction finally starts.