BREAKING NEWS and UPDATES (Oct 2008) on The Residences at the Ritz-Carlton Vancouver

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

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.