Filed under: Real Estate Developments
More interesting real estate news out of Vancouver, the Hotel Georgia, a Vancouver landmark that first opened in 1927, is now home to luxury residences and an updated hotel. The main hotel will be renovated and the Private Residences at Hotel Georgia will be a 48-floor tower with 156 condo units. It will be th third tallest building in Vancouver when completed. The 160-room boutique hotel is going to be completed in 2010 and the team is trying to get it done before the Vancouver Winter Olympics in February of that year.
Condo owners will share the hotel's amenities including a restaurant from David Hawksworth, one of Vancouver's most acclaimed chefs, a roof garden, a spa and fitness center, wine cellar and a round-the-clock concierge service. The condo tower will also have eight floors of office space that will include a theater room and meeting room for residents.
Given that we recently saw construction stop on Vancouver's Ritz-Carlton residences we have to ask how this one is selling. The Calgary Herald article says 55 percent of the condos are sold -- including all of the one-bedroom units that started at $650,000 and the penthouse has also been purchased for $18.5 million. Remaining units start at $1.39 million for 1,178 square feet, up to a four bedroom plus den with 4.5 bathrooms and 3,489 square feet for $8.37 million.