BREAKING NEWS and UPDATES (July 2009) on The Residences at the Ritz-Carlton Vancouver

Vancouver Ritz-Carlton Condo Hotel A Go? - Updated July 2009

According to News 1130, the president and CEO of the Holborn Group real estate developers has confirmed that the downtown Vancouver Ritz-Carlton condo hotel is a go as far as construction is concerned. Although the exterior of the building architecture will remain the same (designed by world renowned architect, Arthur Erickson, who recently passed away), the interior floor plates for the condo high-rise tower will be completely changed. By decreasing the number of Ritz Carlton Vancouver hotel units and increasing the number of floors of market condos, the Holborn Group will also decrease the average size of each unit in terms of square footage and number of bedrooms, allowing for more affordable and entry level suites for sale. The spiraling tower of 60 storeys may not keep the Ritz Carlton brand, and that is yet to be determined as of this point. The downtown Vancouver Ritz Carlton condo hotel should start construction later this fall 2009. However, the City of Vancouver may not grant construction permits until after the 2010 Olympics. Expected completion for the 'four star' Ritz Carlton Vancouver condominium hotel should be around 2011 if construction begins this year.

NEWS FLASH - FEBRUARY 2009 - The Holborn Group Developers have officially put the Downtown Vancouver Ritz-Carlton condo high-rise tower development ON HOLD (i.e. Ritz-Carlton Vancouver Cancelled

Just reported on February 24, 2009 by multiple news stations, the status of the delayed Ritz-Carlton Vancouver pre-construction condo development has now been confirmed by the Holborn Group real estate builders. Joo Kim Tiah, president of Holborn Group, said today that the downtown Vancouver condo project on hold at the Ritz-Carlton Vancouver designed by Arthur Erickson architecture, will be canceled and NOT delayed. With time, the Holborn Group will decide what to do with the site, but for now, any pre-construction condo pre-sale home buyer at the Vancouver Ritz Carlton cancellation will get their original deposit back. This is of great relief to many pre-sale condo buyers here at the Ritz-Carlton Vancouver on hold who will get their deposit money back and be able to buy a new home or invest in a new property sooner rather than later. The $500 million condominium high-rise tower residences on hold and cancelled was to be a ground breaking development that would push the limits in architecture and was dubbed 'Vancouver's Turn' by Arthur Erickson and his architectural team. The original plans for the Vancouver Ritz-Carlton on hold was for a sixty story high-rise condo tower that would twist 45 degrees up to the top. On the lower floors would be the high-end Ritz Carlton hotel suites (much like the Shangri-La Vancouver across the street) and the upper floors would have housed the luxury Vancouver Ritz-Carlton condo suites canceled that were priced between $2.5 to $10 million. The Ritz Carlton penthouse suite was priced at an astronomical $28 million. According to Joo Kim Tiah, about 62 of the 123 pre-sale condo suites were sold, and that was not enough to move the condo project forward in an attempt to complete by 2011. Located at the 1100 block of West Georgia Vancouver, the Ritz-Carlton condo project canceled is now officially put on hold and not delayed. Pre-sale canceled Ritz Carlton condo buyers will receive letter starting this week to inform them that the Vancouver Ritz Carlton cancellation and that their deposits will be returned. According to many experts, the cancellation of the Ritz Carlton Vancouver condo project on hold are signs of the times and affordability is the key to successful developers in the near future.

Holborn Group Maybe Trying to Revive The Arthur Erickson Residences at Ritz Carlton Vancouver High-Rise Condo Tower - June 2009 Update

According to Metro Vancouver newspaper and written by Derek M, the developers Holborn Group is trying to save the Arthur Erickson building design for downtown Vancouver’s ulta luxury Ritz Carlton condo-hotel that was planned for development earlier before the economic crisis. There are hopes now that the sixty storey condominium skyscraper across the street from Shangri-La Vancouver Downtown design by the late Arthur Erickson can still be constructed in downtown Vancouver at a later date, according to the Holborn Group, but not solid plans have been signed off as of yet. Arthur Erickson’s twisting condo tower, the Vancouver Residences at the Ritz-Carlton was slated to rise on West Georgia Street this year, but the condominium building project was halted in the wake of the global economic crisis that has plagued many downtown Vancouver condo real estate developments in the past year. Those homebuyers who purchased Ritz-Carlton condo residences in Vancouver are going to get their deposits back hopefully soon. Speculation has been rife that the eye catching Arthur Erickson condo tower will be shelved in favour of a less ambitious designed apartment building, if anything is to be built on site by the Holborn Group. But in an interview with Metro Newspaper, Joo Kim, president of the Holborn Group said that the developer still wants to see the Arthur Erickson Ritz Carlton condo Vancouver residences skyscraper being built on the prime piece of downtown Vancouver real estate and the City of Vancouver wants to work with them to see it through. According to Joo Kim, the Holborn Group wants to keep the design of the condo building. The developer is looking to re-price the Vancouver Residences at Ritz Carlton condos by taking advantage of lowered costs for construction as well as raw materials, if the condominium building gets the go ahead. Therefore, the new pricing if the Residences at Vancouver Ritz Carlton if approved will be much less than the original pre-construction condo pricing. The recent passing away fo Arthur Erickson, one of Canada’s most accomplished architects, has put a new focus on shoring up the Vancouver native’s home town legacy and the construction of the new Residences at Ritz Carlton Vancouver condo tower will certainly help in keeping his legacy alive for sustainable and green urban living in the downtown core.

Canwest News Update on Canceled The Residences at the Ritz-Carlton Vancouver Condo Hotel Project Collapse

As of February 2009, the Residences at the Ritz Carlton Hotel Condo real estate development in downtown Vancouver will not be proceeding as planned. The proposed condominium hotel would have stood opposite of the Shangri La Hotel Condo residences on Georgia Street in downtown Vancouver, but the developer, Holborn Group, cited poor pre-sales and a global economic downturn that has lead to the cancellation of the Vancouver Ritz-Carlton project. Designed by Arthur Erickson, the canceled Residences at Ritz-Carlton Vancouver was to twist 45 degrees from base to top, making a striking impression on the downtown city skyline. Named Vancouver's Turn, the Ritz Carlton condo hotel residences were about fifty per cent pre-sold, not enough to proceed. A 127-room luxury Ritz-Carlton hotel was supposed to occupy the first 20 floors of the building, with condos taking up the top 40 floors. The estimated cost for the completion of the project was roughly five hundred million dollars, and with the lower than expected pre-sales for the Vancouver Residences at Ritz Carlton and with no end in sight for the economic turmoil, the Holborn Group had to chance to complete the project while making a profit. All pre-sale condo buyers will receive a letter before the end of the month indicating that the Vancouver Ritz-Carlton Residences have been canceled (and not put on hold or delayed as earlier reported), and that their initial pre-sale condo deposits will be returned. Back in October 2008, there was much speculation to the future of the Ritz-Carlton Vancouver condo hotel as the marketing was pulled off site and pre-sales were not going forward. At that time, many speculators thought that the project had been delayed or put on hold. As of today, Arthur Erickson and Holborn Group's Vancouver's Turn at the Residences at Ritz Carlton condo hotel has officially been canceled. The only loosers in this entire Vancouver condo cancellation is the Vancouver skyline as the striking glass facade high-rise tower would have been a perfect landmark for this beautiful city.

BREAKING NEWS: Construction Has Been Suspended at the Vancouver Ritz Carlton Hotel Condo Development - October 2008

According to several news stations today, construction has been stopped on the Arthur Erickson designed Ritz-Carlton Vancouver condominium hotel high-rise tower that was dubbed the 'Vancouver twin towers' opposite the street of the tallest Vancouver condo, the Shangri-La tower. Not much is known right now regarding the status of this pre-construction Vancouver high-rise in the heart of downtown, but Rennie Marketing Systems has stated that the Ritz-Carlton Vancouver condo hotel stoppage has not been affected by the world wide credit crunch or problems with the developer. Right now, Rennie has suspended all sales (pre-sales) for the luxury condos at the Ritz-Carlton Vancouver condominiums until further notice. The Holborn Group, the developer for this massive highrise tower residence has apparently re-evaluated some of teh designs for the structure in addition to the attached parkade for the site. As it stands, construction has just started on the presale Vancouver Ritz-Carlton condo hotel residences and there is a hole on Georgia Street between Bute and Thurlow, across the street from Shangri-La which has topped out construction. The proposed downtown Vancouver Ritz-Carlton hotel condo real estate development was supposed to be a 58 storey condo tower and the price tag for the Holburn Group was stated to be around five hundred million dollars. According to City of Vancouver officials for planning and real estate development, the Holborn Ritz-Carlton condominium hotel designed by Arthur Erickson is a passed project, and nothing has changed on their end at all. Therefore, the problem lies probably on the developer/builder end. Some early speculations even with the re-assurance from the Rennie Marketing Group is that the Holborn Group developers have come into a credit squeeze during this financial downturn and have decided to either scrap the proposed Vancouver tower project all together or to suspend construction until further monetary details for completion are decided upon. Right now, Rennie states that about 50% of all the suites at the Ritz-Carlton Vancouver condo hotel are pre-sold, leaving half of the pre-construction units unsold, which is a far cry from the heydays of getting into the downtown real estate market and long line ups. Excavation remains only 50% complete as of October 2008. Right now, there is no word from Rennie or the Holborn Group as to when construction will begin again and when presales for the Ritz Carlton hotel condo in downtown Vancouver will start. If the Ritz-Carlton Vancouver condo-hotel project is cancelled, it is unclear when and if pre-sale purchasers will get their condominium deposits and downpayments back. Right now, there are many questions as to the future of this landmark condo tower designed by Arthur Erikson that would have changed the Vancouver downtown skyline for the best.

Vancouver’s Ritz-Carlton – The Peak of Luxury Living. Published in the Westcoast Homes & Design magazine in Sept 2007 and re-posted here to promote the pre-construction Vancouver condo development. The Residences – High above the Ritz-Carlton Hotel Vancouver to be built on West Georgia, residents of the Arthur Erickson – designed suites will enjoy the benefits that come from their close attention to the renowned hotel chain.

Imagine waking up to stunning views of Coal Harbour, Burrard Inlet and the North Shore mountains. Then imagine calling in-residence dining for croissants and coffee. Your newspapers are at the door, compliments of high-tech Crestron systems linking directly to hotel services. Should you prefer to make your own breakfast, groceries are available at nearby high-end shops such as Urban Fare and Capers. Perhaps you’d enjoy a day in the spa, a soothing swim or simply window-shopping in the lobby’s signature boutiques. And all this in your own home at the Vancouver condominium Ritz-Carlton residences.

This kind of luxury living will be available at the Arthur-Erikson designed suites at The Residences at The Ritz-Carlton, Vancouver, due for completion in 2011 at 1151 West Georgia Street, one of the last remaining major downtown sites in the city.

The evocative 60-storey glass tower, a unique curved spine soaring upward, will change Vancouver’s skyline forever. The complex will have 123 luxurious private residences at Ritz-Carlton pre-construction residences on floors 27 to 60. Floors 1 thorugh 26 will house 130 rooms in the Ritz-Carlton Vancouver, the world renowned hotel chain, which operates 63 hotels in 21 countries.

The site of the planned building is on West Georgia Street between Thurlow and Bute, across fro the soon-to-be-completed Shangri-La Tower. For a decade, the real estate building ont eh site has been an empty shell with posters pasted on its exterior walls and interminable protective framing overhanging the Georgia Street sidewalk. Three years ago, Holborn bought the land from Cadillac Fairview. Arthur Erikson along with Musson Cattell Mackey Partnership and Davidson Yuen Simpson designed the building, appropriately named “Vancouver’s Turn.” Demolition of the old building at the Ritz-Carlton Vancouver residences site is under way with construction due to start next year.

The five-star suites at the Vancouver Residences at Ritz-Carlton will range in size from 1,000 to 4,000 square feet and be priced between $1.5 million to $13 million. By offering larger sized units, Holborn expects to attract Vancouverites downsizing from neighbourhoods such as Point rey, Shaughnessy, Kerrisdale and West Vancouver.

“We are also attracting interest from Toronto, the United States and Asia because of the reputation of The Ritz-Carlton for commitment to first-class quality and service,” says Linda Chu, senior project manager for Rennie Marketing Systems. “The Ritz-Carlton Vancouver has a world-wide database of VIP customers and we will be marketing to them.”

In keeping with the grandeur of the planned condo tower, The Residences at Ritz-Carlton wil feature European-influenced spaces with streamlined modern designs and generous light-filled interiors. There will be a private residential lobby and a sophisticated lounge.

European styled kitchens and bathrooms will be outfitted with signature names such as Bulthaup, Poliform, Miele, Sub-Zero, Dornbracht and Durant. Finsihes in the suites at the Vancouver Residences at Ritz-Carlton will include polished marble, limestone, lacquer and travertine and woods in walnut, oak, and elm, accented with stainless steel and chrome.

One of the great advantages of this upscale, downtown address will be the close connection to The Ritz-Carlton, which will manage the entire complex. There will be 24-hour security, and concierge and residents will have the use of the hotel spa, pools and staffed fitness centre. Residents may also access casual and fine dining in the hotel. Extra services will include a private valet service, meeting and conference rooms, housekeeping and staffing for special events if required.

The Residences at Ritz-Carlton Vancouver promise high-style, luxurious downtown living. To make an appointment, contact the presentation centre at 1090 West Georgia Street, 604-689-8881. For VIP priority, register online at www.vancouversturn.com.

The Residences at The Ritz-Carlton Vancouver: Exclusive VIP Invitation - November 21, 2007

Arthur Erickson will change Vancouver's skyline forever. You are invited to a fashionable affair. Join us for an evening of luxury and desire, celebrating The Residences at The Ritz-Carlton, Vancouver complemented by a Holiday Gifts Preview by Holt Renfrew.

Date & Time: Wednesday, November 21, 2007 5PM - 8PM
Place: The Residences at the Ritz Carlton, Vancouver, Presentation Centre: 1090 West Georgia Street at Thurlow
RSVP: Jenny Lee by November 16, 2007 at 604.682.2088 or vancouversturn.com/vip. Complimentary valet parking.

604.689.8881 or vancouversturn.com.

Shangri-La Vancouver Condo Hotel Ready for Occupancy

The much anticipated completion of Vancouver real estate's tallest condominium tower residence is now ready for move-ins and occupancy as the new Shangri-La Vancouver condo hotel opens its doors to pre-sale purchasers and pre-construction homebuyers. Located in downtown Vancouver, the Shangri-La Condo Hotel real estate development has taken a little more than 2 years to complete and is located in the heart of the city core close to the trendy Robson Street shopping and dining corridor, Stanley Park urban green spaces, the waterfront Coal Harbour community as well as transportation routes. The new Vancouver Shangri-La Condo residences and luxury condominiums are now complete and with the finest finishes in any condo tower in downtown, early home buyers who purchased pre-sale units will be very pleased with the end result. Looking north are unobstructed views of the North Shore Mountains and facing south, you get the best views of the Vancouver city skyline. From many mid to high level floors in the newly completed Shangri La Vancouver condo hotel residences, you will also see fabulous views of the water, English Bay and Lion's Gate Bridge to the west as well as the Burnaby skyline and beyond to the east. Completed and considered the tallest condo building in all of Vancouver real estate, the Shangri-La Vancouver condominium hotel towers is ready for occupancy for resident units. The hotel accomodation floors of the high-rise Shangri-La Vancouver condo tower will be ready for visitors later in the year as well and they are just finishing the final touches of the grand entrance lobby and building amenities.

UPDATE on the Pre-Sale Downtown Vancouver Shangri-La Condo Hotel High-Rise Tower

At one point last year, some city officials dubbed the Shangri La Vancouver Condo Hotel and the Ritz-Carlton Residences across the street as the 'twin towers' of Vancouver real estate. With the uncertain future of the Ritz Carlton Vancouver condo project that is now put on hold due to 'changes in the design of the garage', the new homebuyers and home owners at the Vancouver Shangri-La condo hotel will have a quiet community to move-into as well as fabulous unobstructed views facing north for now. Because the pre-sales of the pre-construction downtown Vancouver Shangri-La condominium hotel suites happened before the proposed Ritz-Carlton Vancouver condo project was passed, pre-sale homebuyers at Shangri-La condo Vancouver tower did not know whether or not their views would be obstructed and whether they would have to endure at least two years of construction noise across the street. Now, the the Holborn Group Ritz-Carlton Arthur Erickson designed condo tower being stalled and put on hold indefinitely, the residents at the newly completed Shangri-La Condo Hotel Vancouver luxury high-rise residences will enjoy great views and stunning panoramas in every direction. This high-rise should be the tallest building in downtown Vancouver for years to come and will be the landmark tower for the 2010 Olympic Winter Games. As of early October 2008, the marketing team and developer of the new Shangri-La Vancouver condominium hotel has sent closing letters to pre-construction homebuyers stating that completion and occupancy should happen sometime in late October, early November, representing one of very few downtown Vancouver real estate projects that is actually considered to be on time and on schedule. Featuring the first Shangri-La condo hotel in all of North America, Vancouver real estate has exponentially increased in unsold inventory of presale condos this year, and many who bought pre-sale units at the Shangri-La Vancouver condo hotel have not been able to sell their suites via assignment condominium sales. However, for the majority of home buyers in this high-rise Vancouver downtown condo tower, they are primary residence purchasers, meaning that their recently completed Shangri-La Vancouver condos are ready for them to move-into. For those who wanted to sell their presale Shangri-La Vancouver condos via assignment, those speculative buyers will now have to close on their condominiums or walk away from their deposit (which also has legal implications as the developer can sue them according to the purchase of sale contract). After closing, these speculative downtown Vancouver condo real estate investors will then have to re-list their new Shangri-La condo hotel residences in the flooded inventory of new suites in downtown. In any case, these stunning residences at Shangri-La Vancouver represents the first highrise condominium hotel project ever and will start a new trend in luxury homes with fabulous views and an impeccable location. If you are looking to purchase a new condominium at the Vancouver Shangri-La Hotel Condo, now is the time to find basement bargain pricing for absolutely new residences. For condominium sales, please visit www.livingshangri-la.com.

The Opening of the Shangri-La Hotel Vancouver

The Shangri-La Hotel in Vancouver Canada will be opening its doors for the first time in January 2009, a year away from the 2010 Winter Olympic Games in Vancouver/Whistler. Not only is this an exciting time for the luxury real estate market in downtown Vancouver in addition to adding one of the most prestigious hotel chains to its tourism destination fold, the Vancouver Shangri-La Hotel Residences is a one hundred and nineteen room five star boutique accommodation with striking architectural design. Located in one of the most high-end neighbourhoods of all of Vancouver downtown, the Shangri-La condo hotel residences is the best of cosmo urban West Coast life where you can truly experience the best that this city has to offer. Developed by the Peterson Investment Group and Westbank Projects Corp, the deluxe Shangri-La Hotel Vancouver Condo residences and boutique accommodations in downtown Vancouver will be at West Georgia and Thurlow District, in the heart of the business district, close to high end retail shops, shopping malls, boutique dining experiences, live/work downtown condominiums and the Vancouver Art Gallery. You can also stay inside and relax at the Chi Spa at Shangri-La Vancouver Hotel. The hotel accommodations occupy the first fiftenn floors of the new sixty one storey mixed-use Shangri-La Vancouver Condo Hotel high-rise, the tallest structure in the Greater Vancouver area. Not only that, these boutique hotel residences at the Vancouver Shangri-La will come with the most extravagent features and finishes that you would wish for in any five star hotel room.

2010 Olympics Rentals at Shangri-La Vancouver Condos for Rent

With a portion of these luxury condo homes purchased by Vancouver real estate investors and foreign property owners, a number of these boutique downtown Vancouver Shangri-La condo hotel residences will be available for rentals during the 2010 Winter Olympic Games. Ranging from one bedroom to even three bedroom suites that can occupy anywhere from three to eight people at a time, the new Shangri-La condo hotel Vancouver residences will be an ideal place for visitors to call home during the Winter Olympics 2010 as they will be centrally located to all of the downtown amenities, urban conveniences, local mountain ranges and city venues. Not only that, the Shangri-La Vancouver Condominiums will also be practically brand new (only one year old during the 2010 Vancouver Olympics), making them ideal rental suites for visitors. The Shangri-La Vancouver rental condos during the Olympics can range anywhere from one bedrooms at $1000 per night all the way to three bedrooms at $5000 per night if you are lucky to get one of these suites. The Vancouver Winter Olympics dates are in March 2010, making the rental condominiums at the Shangri-La Vancouver condos for rent, the best place to stay if you are looking for luxurious living experiences in the most beautiful setting.

Living the High Life at Shangri-La Vancouver Downtown Condos - Grand Opening

Another great article by Carly K for 24Hours Vancouver talks about the recently completed downtown Vancouver Shangri-La condominium hotel tower. At 61 stories (the tallest building in Vancouver) and after three hundred million (one of the most expensive real estate developments in all of Canada), to say the Shangri-La Vancouver condo is grand is quite the understatement. But what really sets Vancouver’s newest and swankiest hotel/condo, which officially opens its doors tomorrow morning, apart are the tiniest of details. Sure, there’s the Vancouver Shangri-La Chi Spa with its vast water wall that greets you upon stepping off the elevator, the hugely hyped restaurant by French chef Jean-Georges Vongerichten, towering bamboo trees flanking an outdoor Vancouver Art Gallery art plaza, a 42 seat private screening room, and of course, the limestone, three story lobby presided over by six gorgeous and gigantic old world chandeliers here at the recently completed Vancouver Shangri-La condo hotel residences. But we’re more impressed by the small stuff: The miniature versions that sparkle in each stall of the lobby washrooms and the post-it-note sized silver foil painstakingly applied by hand to pillars and cove ceilings. And the grand piano in the Shangri-La Vancouver lobby bar boasts a little signature by the famed maker/concert pianist Mr. Fazioli, himself. Leather semi-circle banquets in the restaurant have received a small yet thoughtful touch, sure to be appreciated by visiting filmmakers breakfasting over top-secret screenplays: Sound-proofing. The new Shangri-La Vancouver condo hotel residences itself has even had minor adjustments to ensure it meshes with its environment. The Shangri-La Vancouver condominium glass tower has been tinted blue to match the sky, on a good day. And it’s on a slight angle to maximize the city’s light, or lack there of. Even the employee uniforms have a tiney touch of the unexpected here at the downtown Vancouver Shangri-La condo hotel opening. Under their subdued mandarin collar jackets are flashes of striking emerald green, hot pink or racy red lining. Something that isn’t small, however, is personnel. The Shangri-La Vancouver downtown hotel condos (Vancouver is number sixty, and theonly one in North America until the one in Toronto is complete in a few years) pride themselves on service and boast two staff to every one geust room ratio. Also not diminutuive is the price. A room on one of the first 15 floors (16 through 61 are condo residences at Shangri-La Vancouver, including three penthouse suites), will set you back $345 to $3,400 per night.