“The Trump name has generated a lot of buzz,” said Vancouver developer and real estate consultant Michael Geller, “but for some locals the name may be a turnoff.” Join the conversation. Is the Trump tower in Vancouver a good thing for BC or will it be simply like the other Trump tower propertes in Las Vegas, Toronto, etc.
In September 2011,Real estate firm Century Properties teamed up with the Donald Trump brand for a $150 million high-rise residential project dubbed the Trump Tower Manila in the Philippines. Though the building will be 100 percent owned and developed by Century Properties, it will bear Trump’s name, Business Inquirer reported back then. There is no word on completion of the project.
The skyscraper, slated for a 3.4-hectare development site known as Century City on the northern end of the Makati central business district, will be approximately 780 feet tall and will have at least 220 units.
Trump is expected to release plans today for a Trump-brand hotel and condominium project in Vancouver. There are also other Trump-brand projects underway in Azerbaijan and the Philippines.
“My name makes everything more successful,” Trump told the Journal.
Trump told the Journal, he’d rather buy and develop his own projects rather than licensing them. But the Journal noted that several of his U.S. licensing deals have stalled or ended up in foreclosure. Trump Towers Philadelphia, for example, filed for Chapter 11 protection in January.
The original Holborn tower on the same site at 1151 West Georgia was shelved in 2009 after the real estate market turned down. At that time about half of the condos, priced from $1.4 million, had sold and buyers had their money refunded.
The new tower will feature a champagne bar, signature restaurant, banquet space and Vancouver’s first pool bar and nightclub. Ivanka Trump, Donald’s daughter will open Canada’s first Mar-a-Lago Spa as part of the Trump Hotel.
Condominium sales will officially begin this October, according to Holborn.