No Bad Hair Jokes, Please – “A high-rise hotel and condo project on Vancouver’s West Georgia Street is being rebranded as the city’s first Trump tower.”

trump tower vancouver +
Sorry; impossible to resist…

“A high-rise hotel and condo project on Vancouver’s West Georgia Street is being rebranded as the city’s first Trump tower, CBC News has learned.
Developer Holborn Group is relaunching its Arthur Erickson inspired twisting tower under the Trump brand with condos priced around $1,600 a square foot.
When the project was originally launched before the global economic meltdown, the 60-storey tower, which will twist 45 degrees as it rises, was to feature a high-end Ritz-Carlton hotel on the lower floors.
Another 123 luxury condos were planned for the upper floors, priced between $2.5 million and $10 million, with the penthouse priced at $28 million.
But when the recession hit in 2008 the luxury market collapsed. The project was halted and early buyers were refunded their money.
The project was restarted in April 2012, with 290 condo units aimed at a lower price point, at the location on the 1100-block of West Georgia.”

– from ‘Trump Tower brand coming to Vancouver project’, CBC News, 15 Feb 2013 [hat-tip Nemesis]

trump tower in vancouverTop rated comments on the CBC site:

“When overdevelopment has hit the point where the likes of Trump are drawn to town to bless us with their “brand”, you know we’re heading into the trash bin. It used to be such a classy city.” – JimBev [547 thumbs up; 27 thumbs down]

“How embarrassing.” – Michael.Wolf [492 thumbs up; 18 thumbs down]

“So according to this article, we are told that the Toronto development was a smashing success (sub-heading “Toronto success moving west”, article says “Trump International Hotel and Tower has put its stamp on that city”) and there is no reason why it won’t be just as successful here in Vancouver.
Yet, in the December 26, 2012 issue of the Financial Post, an article appeared titled “Trump Tower woes signal Toronto’s condo market ‘on thin ice’.”
One investor feels he’s been ripped off and sold something that was misrepresented. “We bought into the Trump name and what we were being told was a hot real estate market in Toronto for this kind of project,” [the man] said in an interview. “It turns out that the hotel had nothing to do with him and that it isn’t a good investment after all.”
Things are clearly not what they seem and the CBC should correct THIS article immediately. A little Googling would have gone a long way, instead you chose to be lazy and, clearly, parrot what the developer is telling you. Shame.”
– Fox in a Hole [368 thumbs up; 8 thumbs down]

We’ll add the Trump Branding as another candidate for the Vancouver RE market’s ‘Jump The Shark’ moment. – vreaa

30 responses to “No Bad Hair Jokes, Please – “A high-rise hotel and condo project on Vancouver’s West Georgia Street is being rebranded as the city’s first Trump tower.”

  1. I keep seeing Trump branded products on the shelves and racks at Winners.

  2. Bad reporting here again by CBC, right after MAC gate fiasco. The fact that Trump tower failed in Toronto (misrepresentation law suite) was not mentioned.

  3. Holburn is perfectly good at bad timing.

  4. In some strange way I admire the demi-orangutan. “How about you put my name on your development and pay me money for it. OK.” THAT’S a sales job. He’s created a valuable brand, somehow. I don’t find anything about him inspiring, but apparently some people who are rich enough to pay $1,500/sqft will be favourably influenced by his name being attached. It puzzles me.

    • Yes! There’s nothing about him that seems classy to me: he seems a used car salesman with a billion bucks. I’m surprised constantly that his name can mean anything, and yet clearly it does. He’s got to be more savvy than he appears…

  5. As Ralph mentioned in a previous thread, for Trump it will be a great success.

    For someone like him, who has a questionable reputation anyways, how much damage can this do to his credibility? People have short memories and latch on to success and in recent years he has been very successful. You can hate him, but he really knows how to play people. In a recent interview he was saying how some of his major tenants and clients in NY are rich Chinese and they confide to him that they think americans and the president are weak. Trump publicly speaks badly about China, but loves their business obviously. He is the king of double speak.

    The real victims are the fools who buy this place and quite possibly the Holborn people.

    • UBCghettodweller

      “You can hate him, but he really knows how to play people. ”

      This is exactly why I hate salesmen of all types. As soon as they start trying to play me, I tell them to go fuck themselves… does the average consumer fall for being played emotionally?

      • Aldus Huxtable

        Yes.

        The average IQ in Canada is one point BELOW the neighbours to the south. How does that taste? I wonder if there were a financial IQ measurement…

        http://www.rlynn.co.uk/pages/article_intelligence/t4.asp
        (More information on the source: http://en.wikipedia.org/wiki/IQ_and_the_Wealth_of_Nations )

      • Aldus Huxtable

        I should say I’ve brought the IQ measurement in as most people are emotionally manipulated by outside influence, but we need some sort of measurement for critical thinking or .. er .. something of the like.. I’m trying to draw the conclusion that we here in Canada are no way immune to the fate of the Americans. The view of some Canadians seems to be that that the financial crisis of America was related with the average American’s lack of intelligence on the matters (and as a result their actions) which caused the RE downturn.

  6. Giving the development the Trump brand is about as attractive as saying that there will be bedbugs and mold in every unit.

  7. What’s with “Arthur Erickson inspired”? I thought I recalled a Taylor Way development with the same tagline. Yep. In fact, if you google the phrase, you get 47,000 hits.
    – I’d hate to be a young architect and have that phrase slapped on the hoardings of a commission of mine.
    – Does the estate get a cut?
    – Does Vancouver have any up and coming young architects that get to use their own names?

    P.S. THIS http://en.wikipedia.org/wiki/Absolute_World http://www.i-mad.com/ is how you do it. I love ’em. And in Mississauga, of all places. Architecture firm is from China. (wu mao via paypal, please)

  8. Lifetime Renter

    Trump is the pathetic poster boy for the nouveau riche, ‘I’ll make my money any way I can and when I’ve got it I’m going to shove it in your face’ crowd. That a monument to this attitude is what gets built around here when there is a severe shortage of affordable housing is outrageous. A 500 square foot condo in this building will go for 800 grand! It proves, yet again, that the Mayor and Vision are faking concern about the need for cheaper shelter. Their biggest favour to the RE and development interests that own them is to give a fake green, fake socially conscious veneer over their highly profitable but socially destructive practices.

    • No developer builds unaffordable housing. Every working person who chooses to live in a city drives down wages and drives up housing costs. Equilibrium is reached. People who are on the bubble or below it in terms of affordability need to earn more, reduce their housing expectations or move to a more affordable place, because people who can afford the city don’t want to subsidize those who can’t. Think of the property taxes paid versus city services used by an $800k, 500 sqft unit! Don’t believe what the mayor says: He can’t afford to pass that up.

      Many of my beliefs have skewed left considerably since the idiotic far right views I held in my youth. But not on housing and affordability. Building more affordable housing will just attract more people who won’t quite be able to afford it, and the shouted demands won’t get any quieter. There’s plenty of places with a far better cost of living versus income profile than Vancouver. Vote with your feet.

      N.B. I’ve lived in some pretty substandard rentals in my time. By the standards of our modern consumer society, I’m still woefully underhoused, but it’s now by choice.

      • UBCghettodweller

        Premium products are one of the best ways to separate the rich from their money. Tax and manage such products accordingly and you’ll both make the rich happy by giving them bragging rights and have money to funnel back in to social engineering.

  9. Boy Howdy, we iz wurld-class now. Our very own Trump Tower.

  10. But 1600 per square foot? I wonder which bank is backing that project?

  11. Demi-orangutan…………….LOL !!

  12. North Vancouver Island

    “In fact, so great was the influence of the real estate industry on the development of Vancouver that it influenced the names of many well-known streets.”

    the above quote is taken from a link http://tinyurl.com/a9ntwb9 originally posted at the previous thread. I thought it uncanny that during the 1912 boom they would rename streets in Vancouver to simulate ‘boom’ mentality, similar to the Rebrand of Trump today.

    plus les choses changent plus elles restent les mêmes

    • “ninth [sic] Avenue became Broadway – familiar names found in many major centres around the world, so bound to appeal to the cosmopolite. ”

      Ah yes, hmm, East Village, SoMa, Trump Towers, Hole In The Ground.

      Great find.

  13. I thought Trump didn’t have time for the little people at a lower price point.

    I was working near the Shangri-La when it went up and always thought it would have some of the best views in Vancouver from the top floors. That big hole in the ground made me realize that there’s always the risk something will be built in the future to block your view. Trump will be right in front of the mountains and practically right next door, so I bet the condo values there are going to plunge even if the bubble slowly deflates.

  14. This site has been a half built hole in the ground for nearly 20 years. Every time there been an attempt to develop it the market has fallen apart. It’s been the bellwether of market demise….and I think the bell just rung again.

    • So true, exactly what I was thinking when I saw this. The site is doomed or haunted. They broke down the old concrete foundation and frame (15 years old??) of the first few floors in 2008/09 to create the hole that exists there now.

  15. I just watched Weekly with Andrew McCreath from February 15, 2013
    where. Andrew sits down with Avery Shenfeld, Chief economist from CIBC “The State of Canada’s Economy – Part Two” [02-15-13 5:45 PM]
    When asked about the state of the housing market, Avery lightly says something like “the fall shouldn’t be more than 15% but it is an easy come easy go situation, the prices have grown to fast in the last few years and now they will return to a few years ago level down fast” i.e. it is not a big deal! And I am thinking about all the mortgages they got during these last few years that are now going to be under water simply because “easy come easy go” and how his attitude would have been different if these mortgages were not insured by the CHMC. May be someone can transcribe the corresponding text from the video http://www.bnn.ca/Shows/weekly-with-andrew-mccreath.aspx

  16. Holborn… The Little Mountain guys.

  17. Classy Vancouver! HAM loves this kind of shit. Should help with the affordability crisis no doubt.

  18. I want to see trumps birth certificate!

  19. i thought rosie hit him pretty close to the mark … then the don went on to prove her right with a wholly thoughtful demonstration of his character … and then issued a micro retraction upon learning that he might be forever remembered for being so classy with a sympathetic heart attack patient … lol … why beauty pageants? … the don thinks of himself probably as some sort of buffett/hefner but is so obviously from neither … what kind of mogul needs a reality tv series for pr? … trump isn’t a brand, it’s a stigma

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