Posted: Dec 8, 2006, 1:31 PM
Join Date: Jul 2002
Trump Groundbreaking set for Spring
From today's Globe -- Real Estate section:
Groundbreaking for Trump tower set for spring
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.
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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
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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