SkyscraperPage Forum - TORONTO | Shangri-La Hotel & Residences | 214 M / 702 FT

Location: University and Adelaide
Developer: Westbank Projects Corp. & Peterson Investment Group Inc
Architect: James KM Cheng Architects
Planning Docs: www.toronto.ca/legdocs/2006/agendas/committees/te/te060509/it007.pdf
Designation: Hotel, residential
Status: Under Construction
Expected Occupancy: 2010
Height: 702ft
Floors: 65
Size: 870,000 sq ft
Value: $340,000,000
Website: www.westbankcorp.com/residential.cfm?projectid=32

http://www.westbankcorp.com/images/S...LaTo-full1.jpg

http://www.westbankcorp.com/images/S...LaTo-full2.jpg

Quote:

Originally Posted by yyzer (Post 10558)

World-renowned Shangri-La Comes to Downtown Toronto
East Meets West with the Arrival of Living Shangri-La: Five-Star Hotel
and 352 Luxury Residences by Canada's Leading Residential Developer

TORONTO, Feb. 7 /CNW/ - Shangri-La Hotels and Resorts, one of the world's
premier creators of ultra-luxurious hotels and resort properties, has selected
the heart of Toronto as the location of its second signature Canadian property
following the phenomenal launch of Living Shangri-La Vancouver.
Living Shangri-La Toronto, a new $430 million tower, will redefine luxury
living downtown, offering a collection of elegant residences atop the
five-star hotel, jointly developed by Westbank and Peterson Group with James
K.M. Cheng Architects (design architect) and Young + Wright Architects
(architect of record).
Slated to open in spring 2011, the 65-storey, 704-foot luxury hotel and
condominium tower on prestigious University Avenue at Adelaide Street boasts a
dynamic central location on the nexus of the Financial and Entertainment
Districts, across from the new Four Seasons Centre for the Performing Arts.
The tasteful, five-star Shangri-La Hotel and lobby, with CHI, The Spa at
Shangri-La, includes signature retail, lounge and restaurants and is
distinguished by a glass-flanked podium with 220 spacious guestrooms on levels
1 to 17.
"We are delighted to announce our second project in Canada with Westbank
and Peterson," said Giovanni Angelini, Shangri-La's Chief Executive Officer
and Managing Director. "Our Canadian properties will offer travelers
Shangri-La's renowned Asian-style hospitality complemented by luxurious
guestrooms, fine dining, and state-of-the-art facilities."
Promising a level of architecture and interior design to complement and
exceed Toronto's current downtown real estate developments, Living Shangri-La
Toronto features breathtaking views and an impressive array of world-class
amenities designed to captivate Toronto's skyline and attract discerning
connoisseurs.
Floors 18 - 48 will be home to 279 luxurious one- and two-bedroom
Residences with floors 49 - 65 reserved for the most exclusive 73 Private
Estates, each encompassing penthouse-worthy appointments and soaring city or
harbour views. Visitors and residents alike will enjoy access to Shangri-La's
incomparable 24-hour five-star service and security, exquisite amenities,
exclusive CHI treatments and an ambience of tranquil grandeur.
"It is a privilege to bring this calibre of hotel and residential
offering to any city, but to bring Shangri-La to a city as dynamic and
exciting as Toronto is an honour," says Ian Gillespie, President of Westbank.
"We are confident that the people of Toronto along with international buyers
will embrace this outstanding example of urban architecture and enjoy a
Shangri-La Toronto lifestyle that is second-to-none."
The successful track record of Westbank and Peterson Group with James
K.M. Cheng Architects and Rennie Marketing Systems has already had a
significant positive impact on the luxury real estate market in Vancouver,
B.C. The team is currently constructing a trio of signature projects including
Living Shangri-La Vancouver, the city's tallest tower (with 300 luxury
residences substantially sold out and on schedule for a winter 2008 opening);
The Estates Fairmont Pacific Rim on Coal Harbour's waterfront; and the
acclaimed redevelopment of the historic Woodward's property. Collectively,
these projects represent well over $1 billion in real estate development.
Westbank and Peterson Group have developed or have under development
$5 billion in projects consisting of over 15 million square feet of
residential, retail, mixed-use and office space. Their creative and
architecturally-focused approach to the creation of premier residences has
made them Canada's leading luxury residential developers.
"Here we have crafted the most exciting fusion of retail and urban
amenities, hospitality and residential design for this signature address,"
says Ben Yeung, President, Peterson Group. "We're delighted to contribute to
Toronto's celebrated skyline and cityscape while enhancing the city's global
destination status."
The accomplishments of this team have impressed former Vancouver head
planner, Larry Beasley, often credited with orchestrating the Vancouver model
for urban design, contributing to its most livable city status and impressive
international urban development prowess.
"Westbank, Cheng, Rennie and Peterson simply understand the complex
nuances, commitment and investment behind successful urban real estate design
and development," says Beasley. "They add value to cityscapes and investors,
demonstrated repeatedly by the success of their projects in Vancouver."
Astute urban planning, timeless design and sound business acumen are
behind the acclaim, notes Beasley. By securing key downtown locations,
attracting the highest calibre of consulting partners and crafting an
unbeatable combination of public, private and residential amenities, savvy
developers like Westbank and Peterson, with the guidance of Canada's leading
real estate marketer Rennie Marketing Systems, routinely lead the competition
at every level of development and set the precedent Beasley contends.
As with their previous developments, Living Shangri-La Toronto will
feature sustainable design, integrated landscape architecture and a
significant public art component along with heritage conservation/restoration
of the Bishop's Block property on Simcoe Street, a Toronto landmark since
1829. Teaming up with James K.M. Cheng Architects is the well established
Toronto-based firm, Young + Wright Architects Inc., whose portfolio includes
work on the Sharp Centre for Design at the Ontario College of Art & Design,
the Rogers Centre and the design of One Bloor Street East.

Hong Kong-based Shangri-La Hotels and Resorts currently manages 50 hotels
under Shangri-La and Traders brands with rooms inventory of over 23,000 in
Australia, China, Fiji, Hong Kong, Indonesia, India, Malaysia, the
Philippines, Singapore, Sultanate of Oman, Thailand, Taiwan and the United
Arab Emirates. The group has over 40 projects under development in Canada,
mainland China, France, India, Japan, Macau, Malaysia, Maldives, Philippines,
Qatar, Seychelles, Thailand, United Arab Emirates, the United Kingdom and the
United States.
Inspired by the legendary land featured in James Hilton's novel Lost
Horizon published in 1933, the name Shangri-La encapsulates the serenity and
service for which Shangri-La is renowned worldwide. Shangri-La's tradition of
service excellence started with the opening of the Shangri-La Hotel,
Singapore, in 1971. The hotel's 15 acres of landscaped gardens, beautifully
appointed guest rooms and gracious Asian style set a new standard for hotel
excellence, which to this day continues to guide the group's design features.
Training is Shangri-La's top priority and significant resources are
allocated annually to ensure employees have the skills and knowledge to be the
best in their fields. This has earned the group international awards and
recognition from guests, prestigious magazines such as Condé Nast Traveler, as
well as industry partners and made Shangri-La one of the preferred hotel
employers.
For more information on Living Shangri-La Toronto, please visit
www.livingshangri-latoronto.com.

For further information: or digital images of Living Shangri-La Toronto,
please contact: Charlie Robson, Adriane David, NATIONAL Public Relations,
(416) 586-0180, crobson@national.ca, adavid@national.ca

Shangri-La joins Toronto's luxe building boom
Posh hotel chain to build 65-storey tower
ELIZABETH CHURCH

From Wednesday's Globe and Mail

An unprecedented luxury hotel building boom in downtown Toronto will get an added boost today as Shangri-La Hotels & Resorts takes the wraps off a new 65-storey downtown tower.

The new project will include 352 condominium units on the building's upper levels and 220 hotel rooms on the first 17 floors. The project will be located on the west side of University Avenue at the corner of Adelaide Street West.

The mixed-use development is part of an expansion push by Hong Kong-based Shangri-La Asia Ltd. into North American and Europe. The luxury chain, which manages 49 hotels, has started a similar project in Vancouver and is working on a Chicago development, as well. West Coast developer Westbank Projects Corp., which is working on the Vancouver site, will develop the Toronto tower along with its partner Peterson Investment Group Inc.

The Shangri-La tower is slated to be completed in the spring of 2011. It is one of several luxury hotel and condominium developments now vying for buyer interest in Toronto's downtown, which could see close to 1,000 luxury hotel rooms added in the coming year.

"It's a huge expansion," said Brian Flood, a Toronto-based vice-president with CBRE Hotels. "Whether the market will support it is another question."

Already under construction is the 53-storey Ritz-Carlton Hotel in the city's Entertainment District; it will include 267 hotel rooms and 153 condominium units, and is expected to open in 2009. A new Four Seasons Hotel mixed-use project, also in the works, will add 265 hotel rooms and 230 condominium units spread over two towers in the city's tony Yorkville neighbourhood.

A handful of smaller projects are also being developed, and a Trump Tower project is in the marketing phase.

William Stone, executive managing director of Colliers International Hotels, said the boom is "long overdue" and marks the end of a 15-year construction drought in this segment of the market. "I would argue that we have lost groups and events because we haven't had the appropriate hotel base," he said.

Both Mr. Flood and Mr. Stone said the new stock will be good for the market. They expect the pricier product will allow all hotels to increase their rates.

Others were not so sure. "On occasion they will be full, but its going to be hard to keep them active for the whole year," said one analyst who follows the industry.

Others point out that the economics of these hotel projects only work because they are paired with condominiums.

"Keep in mind, none of these projects would go ahead without the condos," National Bank Financial analyst Michael Smith said.

He said the mixed-use projects make sense because the condominium component helps to offset construction costs for the hotel. The five-star cachet of the hotel chains also allows for a higher asking price for the residential units, he said.

Mr. Stone said the new construction will help Toronto, and will allow it to compete with other destination cities in North America for the high-end tourist dollar.