TORONTO-Trump has hit the halfway point with its $500 million International Hotel and Tower here, a 60-story project that will include 118 condos and 261 hotel condos. The New York City-based company has now finished construction of the hotel portion of the building, and will now start building the residential units.
The project at 325 Bay St. had been scheduled for completion this year, in December. However, a company spokesman says the hotel will now open in March 2011, with the residences opening later as they are phased in. He says the condos are 75% sold. “Like everyone else at this price point, sales have been slow, with this economy it’s just not the pace we were used to,” he tells GlobeSt.com.
Each residential floor will have fewer than six suites per floor. The entire building has only a 10,000-square-foot footprint, and no retail is planned for the ground floor, the spokesman says. However, the building, at 908 feet, will be one of the tallest in the country when completed. The building includes a seven-story, 200-space parking garage.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.