Trump Groundbreaking set for Spring

asher11 · #1 Posted: **Dec 8, 2006, 1:31 PM**

From today's Globe -- Real Estate section:

http://www.theglobeandmail.com/servl...ry/RealEstate/

Quote:

Groundbreaking for Trump tower set for spring
SYDNIA YU

From Friday's Globe and Mail

With about 70 per cent of the suites in the Trump International Hotel and Tower already sold, groundbreaking at the site in Toronto's financial district is scheduled for spring, with construction expected to start in the summer. "There's no turning back," says Barry Landsberg, Toronto director of marketing for Trump International, a joint venture between property tycoon Donald Trump and Talon International Development Inc.

It is expected that the luxury hotel/condominium — Mr. Trump's first development in Canada — will be completed in 2010.

When completed, the 70-storey tower at 325 Bay St. will be the tallest residential building in Canada. It will contain a five-star hotel with 291 suites and, above them, 147 luxury condominium units.

Plans for the residential suites range from one to three levels and measure 1,299 to 7,375 square feet; the average price is between $2-million and $3-million.

Related to this article

Enlarge Image

Trump International Hotel and Tower

Location: financial district

Developer: Talon International Development Inc.

Price: residential units, $1,397,000 to $16,938,000; hotel units, $784,000 to $3,895,000

Square footage: residential units, 1,299 to 7,375; hotel units, 574 to 3,989

Sales centre: 325 Bay St. at Adelaide Street. Open Monday to Friday, 11 a.m. to 7 p.m.

Contact: (416) 214-0331 or www.trumptoronto.ca

Latest Comments
Start a conversation on this story
Related Zones
No related zones for this article.
For frequent travellers, hotel suites can also be purchased, starting at $784,000 for a 574-square-foot studio. These rooms will be fully furnished and eligible for inclusion in the hotel's rental program when vacant. "You own that suite outright, so you earn all the revenue from that suite," Mr. Landsberg explains, minus administration and operating fees. "If it's rented out for $650, you may earn $500 of that."

As for amenities, the set-up will be similar to that of the Trump International Hotel and Tower in New York, which is Mr. Trump's flagship development.

"[The Trump Organization] has that experience in managing that Manhattan lifestyle living, and that's what they'll bring to the development [in Toronto]," Mr. Landsberg says, adding: "[Purchasers] like the availability of all the services and amenities of the hotel."

For example, facilities in Toronto will be oriented toward business people. There will be a high-tech business centre with meeting rooms, as well as restaurants, a bar and an 18,000-square-foot health club and spa, complete with a gym and pool.

Residents also will have access to hotel services such as housekeeping and valet parking, as well as exclusive use of two chauffeured, S-class Mercedes.

The site is close to many urban attractions, such up-scale restaurants, theatres and major concert and sports venues. "It's all within walking distance, and much of [the walking is] underground ... through the PATH system," Mr. Landsberg says.

"There's a level of discretion and intimacy in the building," he continues, pointing out that there will be two to six residential units on each floor, separate service entrances for some suites, and private elevator access from the Sky Lobby on the 33rd floor.

"Whether you're in a 6,000-square-foot suite or 1,300-square foot suite, we've maintained the 10-foot-plus ceiling heights and the same quality of fixtures and finishes," he adds.

They include hardwood and natural stone materials, and coffered ceilings in some areas. There will be stainless-steel appliances and electric fireplaces.

Most plans include formal living and dining rooms, and eat-in kitchens with floor-to-ceiling windows overlooking the city and lake. Some models have terraces, libraries or gallery-style foyers, and penthouse units have great rooms.

Special to The Globe and Mail

Tony · #2 Posted: **Dec 8, 2006, 2:58 PM**

Cool. Was this the announcement we were all suppose to be waiting for?

caltrane74 · #3 Posted: **Dec 8, 2006, 4:17 PM**

Celebrate Toronto!!!!! the party begins.......... 1000 ft of goodness.

WhipperSnapper · #4 Posted: **Dec 8, 2006, 4:46 PM**

Quote:

Was this the announcement we were all suppose to be waiting for?

probably but I was hoping for more. Spring? ... we have heard something similar before. I'm trying, but I can't get overly excited about this announcement. However ... when the parking lot closes it doors ... watch out!!!

caltrane74 · #5 Posted: **Dec 8, 2006, 5:24 PM**

70% sold. Maybe these guys had been holding out. Either way its good news.

I didn't realize the suites were so expensive. 17 million dollars. Wow. That can build a skyscraper on its own.

Taller Better · #6 Posted: **Dec 8, 2006, 5:41 PM**

70% sounds pretty solid. Does anyone actually wait til 100% are sold before they build?

WZ1 · #7 Posted: **Dec 8, 2006, 6:01 PM**

Screw Trump.. in the spring we will hear that groundbreaking will be in the fall.. msg to trump.. build it soon or leave town..

caltrane74 · #8 Posted: **Dec 8, 2006, 6:47 PM**

Dont be pessimestic. They have 300 million dollars in thier pocket for a building that will cost 500 million dollars. Financing at this point should not be to difficult especially for men with the resouces such as in the Talon Group.

graupner · #9 Posted: **Dec 8, 2006, 6:50 PM**

They have been reporting it for so long?? what's going on. Someone on the forum mentionned a "major announce" in December... I was hoping for more...
*disapointed*

habsfan · #10 Posted: **Dec 8, 2006, 7:20 PM**

Quote:

Originally Posted by Taller Better

70% sounds pretty solid. Does anyone actually wait til 100% are sold before they build?

70% is plenty to get a project started. Some projects wait til they sell 50% of units before they break ground, so 70% is a solid figure.

can't wait to see pics of this baby going up!

caltrane74 · #11 Posted: **Dec 8, 2006, 7:46 PM**

Quote:

Originally Posted by graupner

They have been reporting it for so long?? what's going on. Someone on the forum mentionned a "major announce" in December... I was hoping for more...
*disapointed*

Dont be disappointed my Montreal friend. They could have annouced its cancelled. Instead they annouce the party is in the Spring and the Work starts in the Summer. ( And they have 300 million dollars in the bank) And financial backing into the billions of Dollars. When in reality they only need 1 or 2 hundread million dollars to get this project started. ( The entire building will only cost 500 million dollars you do the math. ) Its easy eh?

Istrian · #12 Posted: **Dec 8, 2006, 9:05 PM**

Quote:

Originally Posted by WZ1

Screw Trump.. in the spring we will hear that groundbreaking will be in the fall.. msg to trump.. build it soon or leave town..

and will be "finished" when dry rain start fallin from the sky,
maybe 2012 or 2017, comeon,comeon...
While Chi. Trump is half the way...

'We' love this city, tall (and probably nice) buildings, we loved this development, but we're all tired of postponing it....

LordMandeep · #13 Posted: **Dec 8, 2006, 9:06 PM**

its the biggets project since the Scotia tower and the Scotia tower was built in boom times. then the biggest recession in a long time hit the city.

Istrian · #14 Posted: **Dec 8, 2006, 9:16 PM**

Empire State Building has been erected in 11 (eleven) month only,
and it was more than 60 years ago...what's happening with this
world; instead of being faster we are getting incredibly slower...
I know, there are many factors in the game different nowadays,
# of workers, invested money etc, but still...

WHISTLERINMUSKOKA · #15 Posted: **Dec 8, 2006, 10:08 PM**

Sweet, great news and the 70% sold part is the best thing about it. Come summer that corner is going to be crazy with construction. Our core is going to be so dense when all things are finished. This will no doubt spur the residential development planned for B/A and hey may even help Sapphire sell.

caltrane74 · #16 Posted: **Dec 8, 2006, 10:36 PM**

A new Yorkville in the heart of the Financial district.

WhipperSnapper · #17 Posted: **Dec 8, 2006, 10:40 PM**

Imagine if the second office tower of the Bay Adelaide Centre were to break gorund in a year - unlikely ... but not completely impossible

OrientExpress · #18 Posted: **Dec 9, 2006, 4:32 AM**

Good news, this building is still in the works, but the numbers are way off. 10 unit's which was the suggested number of units left should mean 94.something percent sold not 70%. If numbers are a indication this should mean height reduction if they are planning for a spring start.

Taller Better · #19 Posted: **Dec 9, 2006, 7:16 AM**

Quote:

Originally Posted by Istrian

and will be "finished" when dry rain start fallin from the sky,
maybe 2012 or 2017, comeon,comeon...
While Chi. Trump is half the way...

'We' love this city, tall (and probably nice) buildings, we loved this development, but we're all tired of postponing it....

Istrian, I can't speak for you, but I suspect you are (as are so many others) lumping together both Trump Proposals.. the first one failed a number of years back. Really, this project has not been around that long considering it is 70 storeys, not 45 like some others, and the price point is extremely high. This is a massive project, and it has taken time to sell.
Folks, regarding the Empire State building, there were many reasons why they rushed the building of it. There weren't other highrises going up at the time so they lavished a huge workforce on it to get it built FAST. Have a bit of patience, people!

Jared · #20 Posted: **Dec 9, 2006, 7:23 AM**

Man, I remember back in 2002 when this thing was "guaranteed" to start in Fall 2004.

The drama continues...