![]() |
Ritz-Carlton hotel-condo project rumoured to be dead VANCOUVER (NEWS1130) - Construction of the Ritz-Carlton hotel-condo project in downtown Vancouver stopped last fall and there are now rumours work on the development won't start up again. President of the Holborn Group, Joo Kim Tiah, tells the Vancouver Sun that buyers will get letters in the mail this week, updating them on the status of the $500 million dollar project. About half of the 123 Ritz-Carlton condos were sold in the tower that was scheduled for completion in 2011 and prices ranged from just under half a million dollar to $28 million. The hotel was expected to occupy the first 20 floors of the building, with condos taking up the top 40 floors. |
What a shame. But I guess it's only the "right" solution/decision at the current state of the economy. That leaves Shangri-la with one less of a competitor in vancouver. :D |
saw that coming when they announced it |
Funny how the cyclical real-estate market works eh? Everyone seems to forget how Yaletown was a dump 15 years ago. Or the area around GM Place. With that said, it's a real shame. Our skyline today looks sooo much better than the 90s. Strange, www.vancouversturn.com just shows a blank page saying "Desire has an address..." **UPDATE** Yeah it works, thanks Jah Al! |
Vancouversturn.com works, it just takes a long ass time to load the page. I was kind of hoping that the Ritz would go up because it's one of the finest hotels in the world and the Ritz hotels only occupy the world’s finest cities. |
no shit, wait till AFTER the 2010. On a side note, how can they fuck up on a 150 million budget and blow it over 900 million? Did that controller get his degree from Fake University? |
Quote:
|
but but but, what happened to every single real estate agent in vancouver saying that the market is stabilizing, now is the time to buy, and prices will rise ?! |
so what happens to the peoples that put down a deposit? down the drain or full refund? |
Quote:
|
Damn that'st oo bad. It would look awesome in our skyline. |
nanana hey hey hey gooooooooooooodbye |
Quote:
In fact, the Ritz-Carlton would have been one of the few buildings in this city that would have broken the mold. Even the Shangra-La is pretty uninspiring, from an architectural standpoint. |
What happens when things don't recover, and the city dumps 1000+ units on the market in 2010? What industry or resources does Vancouver have that keeps the housing prices so high? Once foreign money dries up, this market should crash and crash hard, no? |
Quote:
Compare to other provinces... Ontario = manufacture Alberta = Oil BC = Drug Trade and Foreign Money. BC bud is the #1 trade in BC..drug dealers are buying houses and nice cars with their profits. Also weathly chinese people are flooding our city...and with open arms we welcome them. We got a unique real estate market in BC. You either fall into 3 categories. 1. Your a drug dealers 2. Your Rich 3. Your servicing the drug dealers and the rich. |
Quote:
No worries though. I'll be willing to bet that the'll resume after about 8-10 years. That lot is still prime real estate, and they'll just wait for the upswing. Chances are they're not stupid. Just heard on the radio, it's now CONFIRMED the project is stopped. |
Quote:
|
Quote:
|
Quote:
Ive stayed in the VIP suites in Shanghai, and it was quite nice. The design and materials used in Vancouver were basically the same as an upscale richmond condo, but with nicer appliances. The design was boring and not reminiscent of Ritz Carltons quality and prestige whatsoever. Also, the valet took my car for a 45 min joyride, but we wont get into that. I, for one, am not surprised at all to see this happen |
Quote:
|
I work in the building beside the Ritz Carlton site. There is a huge 60' deep hole that they are still digging. I wonder what they're going to do with it - swimming pool? :P |
Quote:
|
it's bound to happen when economy goes bad. They'll restart again eventually. |
Quote:
Quote:
|
Quote:
Drugs I agree that's a huge part of it. |
All times are GMT -8. The time now is 01:27 PM. |
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2025, vBulletin Solutions Inc.
SEO by vBSEO ©2011, Crawlability, Inc.
Revscene.net cannot be held accountable for the actions of its members nor does the opinions of the members represent that of Revscene.net