Designed by iconic Canadian architect Arthur Erickson and branded by iconic developer Donald Trump, the 63-storey Trump International Hotel &
Tower Vancouver was officially launched this week by Joo Kim Tiah CEO of Holborn Group.
The $360 million tower, to be complete by 2016 as the second tallest in the city, will house a 147-room Trump hotel and 218 luxury condominiums expected to be priced from approximately $1,500 per square foot.
That would mean values of from $900,000 to well over $3 million, not counting the house-sized penthouses.
Some doubt Vancouver has the pockets or the appetite for another ultra-pricey condo tower, despite the expensive branding.
"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."
Geller also remarked that the Erickson-designed "twisting" tower might compromise some condominium layouts. He added that some other high-priced Vancouver condominium projects have had trouble selling units.
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.
