The long-suffering condo buyers of 1 Bloor East are getting their money back.

Buyers were sent release forms last week to have their deposits returned. The money has been held in trust for months by lawyers for Bazis International, the developer which was recently forced to sell the 1 Bloor East property.

They are expected to see their money returned by Sept. 11.

“Everybody’s getting their money back,” said Garth Juriansz, of Re/Max Realtron Realty, who bought his own unit and sold more than 20 others.

“My clients were all very, very upset because, you have to imagine, every person that’s there has $100,000 or more in their own hard-earned cash sitting there, and nobody’s told them anything.”

A spokesperson for Kazakhstan-based Bazis International confirmed that releases for the condo deposits were mailed to buyers last Monday.

She said the money will be refunded as soon as the releases are signed and returned to the lawyers.

Mr. Juriansz said that buyers were also informed that there would be an announcement regarding new plans for the site, which is located at the corner of Bloor and Yonge streets, on Sept. 16.

Buyers lined up for days in 2007, when the building was meant to climb 80 stories, which would have made it the tallest residential tower in Canada.

Prices ranged from $400,000 to millions of dollars.

Troubles began for 1 Bloor East in the fall when Bazis International’s partner in the land purchase, Lehman Brothers, went bankrupt.

Bazis stopped making payments on a multimillion-dollar loan earlier this year, and last month, in order to keep the project out of receivership, they sold the property to Great Gulf Homes.

It remains unclear what Great Gulf Homes intends to do with the site.

They are expected to take ownership later this month.