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02-24-2009, 02:01 AM
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#1 | | y'all better put some respeck on my name
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| 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.
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02-24-2009, 02:08 AM
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#2 | | Unofficial Tin Foil Hat Specialist.
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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.  | |
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02-24-2009, 02:28 AM
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#3 | | I only answer to my username, my real name is Irrelevant!
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saw that coming when they announced it
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02-24-2009, 04:28 PM
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#4 | | I contribute to threads in the offtopic forum
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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!
Last edited by slammer111; 02-24-2009 at 05:24 PM.
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02-24-2009, 05:24 PM
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#5 | | y'all better put some respeck on my name
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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.
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02-24-2009, 05:42 PM
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#6 | | OMGWTFBBQ is a common word I say everyday
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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:
Originally Posted by Fei-Ji  haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-24-2009, 05:59 PM
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#7 | | Banned (ABWS)
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Originally Posted by wouwou 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? | most likely sfu.
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02-24-2009, 07:10 PM
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#8 | | I subscribe to the Fight Club ONLY
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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 ?!
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02-24-2009, 07:27 PM
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#9 | | RS.net, where our google ads make absolutely no sense!
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so what happens to the peoples that put down a deposit? down the drain or full refund?
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02-24-2009, 09:02 PM
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#10 | | The Lone Wanderator
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Originally Posted by NNT so what happens to the peoples that put down a deposit? down the drain or full refund? | Deposits are put in Escrow, IIRC.
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02-24-2009, 10:10 PM
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#11 | | My homepage has been set to RS
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Damn that'st oo bad. It would look awesome in our skyline.
__________________ Quote: Originally posted by Red_One
Selling two tickets. Section 102 Row 13. Behind the Canucks net for 1st and 3rd periods. $210 for the pair. | Quote: | Originally posted by phatboyWhat about the 2nd period? | | |
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02-24-2009, 10:33 PM
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#12 | | ESKETIT
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nanana hey hey hey gooooooooooooodbye
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02-25-2009, 08:40 AM
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#13 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by slammer111 With that said, it's a real shame. Our skyline today looks sooo much better than the 90s. | Our skyline still looks boring because the architects lack imagination in this city. All the condos these days are cookie-cutter 30-storey square-cylinders that are considered "art-deco" by Rennie and the imitators (and I live in a building so described.)
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.
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02-25-2009, 10:01 AM
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#14 | | Rumors of my demise have been greatly exaggerated
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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?
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02-25-2009, 11:46 AM
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#15 | | My dinner reheated before my turbo spooled
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Originally Posted by Jason00S2000 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? | Drugs and Chinese people...Im being serious.
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.
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02-25-2009, 11:22 PM
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#16 | | I contribute to threads in the offtopic forum
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Originally Posted by Tapioca Our skyline still looks boring because the architects lack imagination in this city. All the condos these days are cookie-cutter 30-storey square-cylinders that are considered "art-deco" by Rennie and the imitators (and I live in a building so described.)
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. | Yeah, Yaletown and West End condos are a dime a dozen, but we actually have quite a bit of selection here. Wall Centre, VCCEP (new convention centre), Bentall 5, Shaw Tower.. all unique in their own right. At least they're starting to flex on the whole "height limit" deal. imho that's one of the biggest reasons why we had such a boring skyline for ages.
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.
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02-26-2009, 09:37 AM
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#17 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by Ludepower Drugs and Chinese people...Im being serious.
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. | You forgot Tourism?
__________________ Quote:
Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-26-2009, 09:52 AM
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#18 | | The Lone Wanderator
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Originally Posted by wouwou You forgot Tourism? | Tourism isn't foreign money?
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02-26-2009, 09:59 AM
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#19 | | Need to Seek Professional Help
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| Quote:
Originally Posted by Tapioca Our skyline still looks boring because the architects lack imagination in this city. All the condos these days are cookie-cutter 30-storey square-cylinders that are considered "art-deco" by Rennie and the imitators (and I live in a building so described.)
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. | I was invited to the grand opening event for Ritz Carlton, and i must say the interior design was quite disappointing, and severely overpriced.
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
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02-26-2009, 10:28 AM
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#20 | | I contribute to threads in the offtopic forum
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Originally Posted by bananana Also, the valet took my car for a 45 min joyride, but we wont get into that. | What? I'd like to hear about it.
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02-26-2009, 11:53 AM
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#21 | | RS.net, where our google ads make absolutely no sense!
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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
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02-26-2009, 12:15 PM
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#22 | | OMGWTFBBQ is a common word I say everyday
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Originally Posted by Graeme S Tourism isn't foreign money? | I meant Tourism as #1 trade, not drug
__________________ Quote:
Originally Posted by Fei-Ji haha i can taste the cum in my mouth | There is a time when you have to sig a post.
It just happened.
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02-26-2009, 12:25 PM
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#23 | | I answer every Emotion with an emoticon
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it's bound to happen when economy goes bad. They'll restart again eventually.
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How I wish I can remain ignorant, why do I know so much?
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02-26-2009, 01:52 PM
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#24 | | Raping Captured Dolphins since 2002 on EZ board days
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Originally Posted by wouwou 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:
Originally Posted by Synaptik most likely sfu. | ROFL! 
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Originally Posted by asian_XL apparently, freedom of speech does not exist on RS
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Originally Posted by Alphamale I give a lot of people rim jobs. | My Feedback | |
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02-26-2009, 01:56 PM
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#25 | | Unauthourized Spammer
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Originally Posted by Ludepower Drugs and Chinese people...Im being serious | Yeah because people in Asia have not been affected at all by global recession 
Drugs I agree that's a huge part of it.
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