The Trump Organization, the closely held company owned by one of New York’s more colorful moguls Donald Trump, announced Thursday a major deal to plant the Trump flag in Vancouver.
The project is being billed as the first luxury real estate development in Vancouver since the 2008-09 financial meltdown. It’s being built on the site of where a Ritz-Carlton hotel project was canceled after the bank-instigated subprime lending crisis sent the global economy reeling.
With the backing of Vancouver-based developer Holborn Group and TA Global of Kuala Lumpur, an investment holding company that focuses on real estate, Trump will build the $350 million Trump International Hotel & Tower Vancouver, Trump’s second foray into the Great White North.
The 65-story twisty blue skyscraper in the city’s downtown Coal Harbor will house 147 hotel rooms and 218 condos, including a spa, a pool-bar nightclub, a restaurant and a convention center. It’s expected to be completed by the middle of 2016.
Trump’s 65-story tower in Toronto, the first Trump property in Canada, opened last year.