July 9, 2009

According to News 1130, the Ritz condo/hotel project that was halted in the market downturn could be coming back to life.

Joo Kim, the CEO of the Holborn Group real estate developers, has confirmed that the downtown Vancouver Ritz-Carlton condo hotel “is going forward”.

The exterior of the building architecture is slated to remain the same (designed by world renowned architect, Arthur Erickson) while the interior floor plans for the condo high-rise tower will be revised.

The plan now is for a smaller hotel and more condos, allowing for more affordable and entry level suites for sale.

At this time it is unknown if the building will keep the Ritz Carlton brand-name.

The building should start construction later this fall 2009. However, the City of Vancouver may not grant construction permits until after the 2010 Olympics. Expected completion for the ‘four star’ Ritz Carlton Vancouver condominium hotel should be around 2011 if construction begins this year.

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