Toronto Residences at The Ritz-Carlton, Toronto | 207.86m | 53s | Graywood | Kohn Pedersen Fox

Toronto Star said September. Obviously they prove again they know nothing.
 
The Toronto Star is reporting:

Sales: 70 per cent sold. Status: construction to start this December. Occupancy: November 2009.
 
Damn great news. I really hope that our cultural facilities get a real walk up from all the new residents, all the hotel goers etc.

The new demand will only strengthen the shows, and make them ad more, thus making the downtown even more a go to place.

Here is hoping!!
 
Do both buildings same time. Save yourself a tonne of cash.
 
Just heard on 680 news, the official groundbreaking was this morning.

This is the first time in a while that I can remember the news media outscooping this board.
 
From CNW:

J.W. (Bill) Marriott, Jr. and Partners Break Ground for the Ritz-Carlton Hotel and Residences, Toronto

TORONTO, Nov. 30 /CNW/ - A ground-breaking ceremony today heralded the beginning of construction of the 53-storey Ritz-Carlton Hotel and Residences, Toronto, with completion scheduled for 2009.

Groundbreakers included J.W. (Bill) Marriott, Jr., Chairman and CEO of Marriott International; Ron Harrison, President, Marriott Lodging of Canada; Peter Sharpe, President and CEO, The Cadillac Fairview Corporation Limited; Garnet Watchorn, President of Graywood Developments Ltd. and Michael Beckley, Senior Vice President of Development for Marriott International Inc., owner of The Ritz-Carlton Hotel Company, L.L.C.

Destined to be a Toronto landmark with its striking, modern architecture, the 700,000 sq. ft. Ritz-Carlton Hotel and Residences, Toronto was jointly-designed by Kohn Pedersen Fox (KPF) Associates Architects and Planners of New York and Toronto-based Page & Steele Architects. The $350-million development is located on the south side of Wellington Street, between Simcoe and John Streets.

"Marriott and Toronto are perfect partners, and now is the perfect time to build on that partnership with this new full service, five-star Ritz-Carlton," said Mr. Marriott. "The demand for luxury hotel accommodations is tremendous right now and is especially strong in cosmopolitan areas, financial centres and gateway cities like Toronto."

"We anticipate this is the first of several Ritz-Carlton combined hotel and condominium residences planned for Canada," said Michael Beckley, Vice-President of Development for Marriott International Inc., the parent company of The Ritz-Carlton Hotel Company. "The concept of situating residences above a five-star hotel has proven successful for Ritz-Carlton internationally."

"The response to this development speaks for itself. We instituted an aggressive sales program for the Residences and already approximately two-thirds of the 153 suites have sold to local and international purchasers," added Garnet Watchorn, President of Graywood Developments Ltd. "We know this building and RBC Centre which Cadillac Fairview is developing next door, will dramatically alter Toronto's cityscape."

For the interiors at The Ritz-Carlton Hotel and Residences, Toronto, the international design team includes HBA/Hirsch Bedner Associates Design Consultants of Atlanta and Babey Moulton Jue & Booth of San Francisco. For RBC Centre, KPF has teamed with Toronto's Bregman + Hamann Architects.

The slim and elegant tower with its striking design - above the 26th floor, the building grows wider as it rises - will have 267 five-star hotel rooms on storeys six to 20. Storeys 22 to 53 will contain 153 luxury condominium residences and a five-storey podium will contain conference and meeting facilities, fine-dining restaurants and a 2,000-square-metre, full-service spa.

Already under construction to the east of The Ritz-Carlton Hotel and Residences, Toronto is RBC Centre, a 42-storey, Class AAA office tower with 1.2 million sq. ft. of commercial space with an estimated construction value
of $400 million. RBC Centre complements the existing Simcoe Place at the northwest corner of Simcoe and Front Streets.

"Both RBC Centre and The Ritz-Carlton Hotel and Residences are important additions to Cadillac Fairview's portfolio. With construction underway, RBC Financial Group and RBC Dexia Investor Services will occupy approximately
500,000 sq. ft. We anticipate the tower will be ready for occupancy around mid-2009," said Peter Sharpe.

ABOUT THE RITZ-CARLTON HOTEL COMPANY L.L.C.

The Ritz-Carlton Hotel Company, L.L.C., of Chevy Chase, Md., (USA) operates 63 hotels in the Americas, Europe, Asia, the Middle East and Africa. It is the only service company to have twice earned the Malcolm Baldridge
National Quality Award, which recognizes outstanding customer service. Since 2001, The Ritz-Carlton has successfully opened 23 hotel and resort properties,
an expansion program driven by the company's philosophy of gradually evolving to accommodate the changing needs of a clientele seeking more contemporary design standards and a less formal, more relaxed atmosphere of elegance.

ABOUT GRAYWOOD DEVELOPMENTS LTD.

Graywood Developments Ltd. has completed major residential, commercial, office and hotel projects in both Canada and the United States. In the Greater Toronto Area, the company's condominium developments include Number One York Quay, Landmark of Thornhill and 370 King West.

ABOUT THE CADILLAC FAIRVIEW CORPORATION LIMITED

The Cadillac Fairview Corporation Limited is one of North America's largest investors, owners and managers of commercial real estate. For over 50 years Cadillac Fairview has been leading the way in commercial real estate
with innovative design, development and management. Cadillac Fairview focuses on high quality office properties and regional shopping centres in Canada and the United States and also oversees equity investments in real estate
companies and international investment funds. With a portfolio valued at approximately $13.5 billion (and more than 47 million square feet of leasable space), Cadillac Fairview and its affiliates own and manage 83 properties,
including some of Canada's landmark developments such as Toronto-Dominion Centre, the Toronto Eaton Centre, Sherway Gardens, Carrefour Laval, Chinook Centre and Pacific Centre. Cadillac Fairview is wholly-owned by the Ontario Teachers' Pension Plan, which invests to secure the retirement income of 300,000 active and retired teachers in Ontario.

For further information: Rhoda Eisenstadt, Beth Merrick, David Eisenstadt, The Communications Group Inc., (416) 696-9900, reisenstadt@tcgpr.com, bmerrick@tcgpr.com, deisenstadt@tcgpr.com; Vivian Deuschl, The Ritz-Carlton Hotel Company, L.L.C., (703) 941-6225, vivian.deuschl@ritzcarlton.com; Catherine Kee, Heath Applebaum, The Cadillac Fairview Corp. Ltd., (416) 598-8208, (416) 598-8645, catherine.kee@cadillacfairview.com, heath.applebaum@cadillacfairview.com

AoD
 
This one will be tall, I look forward to this project with great anticipation. - What class this building will add to our city, and it should be completed before its first major competitor the Four Seasons up in Yorkville. Which is good since its name is not as tied to the Toronto Market as is the later.

Cool beans~~~!!
 
Glad to hear its under going construction :) I bet those 'famous' people will prefer the Ritz over the aging Four Seasons we have here in Toronto once completed.
 
While it's frustrating at times that Toronto isn't a "grown up" city, it is exciting to witness the growing up.
 
What does this groundbreaking actually represent? Have they closed the sales centre then? Any actual movement?
 
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