1 Bloor St. E. condo breaks ground

Toronto city councillors and the developers were on hand Friday to break ground at One Bloor East.

The $450 million project has been plagued with problems and still has about three years until it is complete. Still, one of the men responsible for the condo found reason to celebrate.

“It’s very exciting to be doing the groundbreaking. This is going to be 70 storeys, right at the corner of Yonge and Bloor, with a connection to both the Yonge Street and Bloor Street subway lines,” David Gerofsky, president and COO of the Great Gulf Group of Companies said.

“It’s very unique and very exciting.”

Addressing the delays, Coun. Doug Ford said: “builders go through numerous hurdles.”

“Our job, as politicians in this city, is to encourage development, not discourage development, and make it easier to get projects like this on the go. We have to change the culture of business in this city and the thinking process that we’ve had for the past more or less seven years. We want to tell the rest of the country, ‘Toronto’s open for business.’” Ford added.

The building will contain 732 units, 85 per cent of which are already old. There will also be 100,000 square feet of retail space at street level.

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