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Selons U.S. News and World Report http://www.montrealgazette.com/travel/RitzCarlton+Montreal+tops+list+luxury+Canadian+hotels+second+time/10764461/story.html Ritz-Carlton in Montreal tops list of luxury Canadian hotels for second time The Canadian Press | 01.26.2015 U.S. News and World Report has ranked Montreal's Ritz-Carlton for the second year in a row as the best hotel in Canada, citing its stylish decor and amenities including a greenhouse and a French restaurant from celebrity chef Daniel Boulud. Rosewood Hotel Georgia in Vancouver, which features an indoor saltwater pool and multiple dining options, was ranked No. 2, followed by the Trump International Hotel and Tower, 65 storeys high, in downtown Toronto. Properties in Vancouver, Toronto and Montreal took eight of the 10 spots in the American publication's 2015 list of top Canadian luxury hotels. Included in the ranking were Fairmont Pacific Rim and Loden Hotel, both in Vancouver; Four Seasons Hotel and Ritz-Carlton, both in Toronto; and Hotel Le St-James in Montreal. Outside the three big cities, Auberge Saint-Antoine in Quebec City and Sonora Resort on B.C.'s Sonora Island also made the cut. U.S. News and World Report said the 10 hotels "persistently wow travellers" with upscale amenities, top-notch service and "a sense of individuality." Visitor reviews and expert opinions were among factors used to compile the list, it said.
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(Courtesy of the Financial Post) Its nice to see a Hungarian-Canadian thinking of something big Its a nice location, I have seen it first hand when I was in Montenegro a few years back. The person that spoke to me about this project. They want it to be like the next Monte Carlo. One thing... Montenegro is a really nice country
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For the best food, festivals and fun, head to Montreal, Canada Just like the United States postal service’s motto, “Neither rain, nor snow, nor sleet, nor hail” shall prevent Montrealers from throwing a fabulous festival. Be it musical, comedy, fashion, dance, circus, film or food & wine based, they’ve got it covered, and leave it to those crazy/generous Canadians to throw many a bash for free-particularly in the summer when you can virtually channel surf for festivals. when I was there a few weeks ago, there was almost an embarrassment of riches to choose from including the 35th annual Festival International de Jazz de Montreal, the 30th L’International des Feux Loto-Quebec and the Montreal Cirque Festival. If you’re planning a visit this year here are some upcoming festivals for you check out: 1. Festival Mode & Design Festival-allows you to get an inside look at the world of fashion. Choose from over 50 fashion shows (some of the finest Canadian designers will be represented) live creative sessions, designer showcases and musical performances. A MUST for the fashionista! 2. Montreal World Film Festival-is the only competitive Film Festival in North America recognized by the FIAPF (International Federation of Film Producers Associations) which is a pretty big deal. Now in its 38th year, you can view films from over 70 countries, as well as hear from some well-known filmmakers. 3. Pop Montreal- features Francophone, Canadian, and international pop musicians. , This dynamic five-day festival in September will present more than 600 artists to audiences of over 50 000. 4. La Biennale de Montreal- is a slightly more highbrow international event focusing on film, sculpture, photography, painting and installation art that respond to current conditions by considering “what is to come”. 5. Taste MTL- pack your stretchiest pants if you’re coming to this 10-day fall event with more than 100 restaurants participating. It’s sure to be a winner since Montreal often claims it has more restaurants per capita than any other metropolitan area in North America. To see a year’s worth of events check out Go Montreal Living Festivals and Events link. Where to feast between festivals For a respite from all the noise and commotion try Maison Boulud, one of the newest restaurants from acclaimed chef, Daniel Boulud, in the newly refurbished Ritz-Carlton Montreal, provides an elegant, yet non-stuffy option (including al fresco tables overlooking their peaceful pocket-park). Boulud’s magic touch combined with ingredients sourced from the finest local purveyors ensures a gastronomic dining experience, whether you stopping in for brunch, lunch or dinner. The sparkling arugula, cherry and Parmesan salad was the perfect opener to a succulent, Moroccan spiced chicken dish. Double down by dining at both of Chef Normand Laprise’s restaurants for guaranteed culinary winnings. The cheeky, casual, and much more affordable, Brasserie T , is located right in the heart of all the excitement at Place-des-Arts, Montreal’s cultural hub. If you reserve a seat on the bustling outdoor terrace, you can enjoy the jazz concert while nibbling on luscious little temptations such as pan seared fois gras, glistening salmon or beef tartar, betcha-can’t-eat-just-one farm-fresh deviled eggs or just an absolutely perfect cheeseburger and fries. Don’t forget to make reservations well in advance for a dinner at Laprise’s celebrated restaurant Toqué!, a landmark in Quebec’s gastronomical scene offering haute cuisine without the ‘tude. Toqué! has won more kudos and awards than Meryl Streep, including Relais & Châteaux, AA/AAA Five Diamond, James Beard Foundation, and the Gourmand World Cookbook Award for 2014 cookbook of the year. He was even appointed Knight in 2009 yet you’ll never meet a more down-to earth chef, who is passionate about showing respect for the multitude of cooks, farmers, foragers and fishermen responsible for bringing him the finest seasonal bounty– right down to the humblest root vegetable. This is one night that I recommend you skip all the festival offerings and instead indulge your senses in their unforgettable 7-course dinner with optional wine pairing, although the sommelier’s pairings were so innovative it should be mandatory. Where to stay Le St-Martin Hotel Particulier Montreal, a 17-floor boutique property, is a pleasing blend of luxury, warmth and contemporary styling (think faux-leopard blankets and colorful throw pillows, homey fireplaces, peek-a-boo glass showers offer views all the way through the big bay windows) also offers the perfect festival location: close enough to walk to most of the festivities, yet far enough away to enjoy a peaceful night’s sleep. After navigating the mini-jungle entrance, where the helpful doormen are wearing safari outfits (don’t ask me why) you check in with the unbelievably friendly staff at the front desk. I spent a full hour the next morning with Virginia, who answered dozens of my itievenerary questions and then marked each of my stops on the map in a different color. When she saw that I still looked a little lost, she went to the computer and printed out metro directions for each stop and never stopped smiling the whole time. The hotel recently won a Certificate of Excellence from TripAdvisor which I’m sure is partly based on their exemplary service as well as the fact that their signature Bistro L’Aromate serves an utterly fabulous breakfast, that could easily power you through the whole day. For a quick relaxation break simply step outside to their mini-heated pool, nestled alongside a waterfall, teak bridge and tropical plants for a little private Shangri-La. Within minutes you’ll be recharged for the next round of festivals. http://www.aluxurytravelblog.com/2014/08/01/for-the-best-food-festivals-and-fun-head-to-montreal-canada/ -
http://rt.com/news/chechnya-tallest-building-fire-280/ That thing looks like it's made out of cardboard to begin with. What's with the big dumb clock? -
Deal Book If this did go through, I do wonder if NM would land up in Canada.
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Located in one of Montreal's most prestigious and central sectors, Le Luxor condominium offers a living standard of high quality and luxury.
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http://www.wheels.ca/reviews/article/792745
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Video (Courtesy of The Globe and Mail) Luxury homes in Montreal is up 300% Luxury Starter Home for Montreal estimated to be at $1.5 million.
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(Courtesy of AFP)
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Luxury automakers smash August sales records in Canada
un sujet a posté ErickMontreal dans L'actualité
Luxury automakers smash August sales records in Canada By Nicolas Van Praet, Financial PostSeptember 6, 2009 When auto executives gathered at Pebble Beach in Carmel, Calif. this month to show off a bevy of new luxury car models, the mood was decidedly more downbeat than in previous years. Managers for Lamborghini and Lincoln decried the state of sales for their high-end cars, arguing that their well-heeled American buyers are fearful of flaunting their money with lavish purchases at a time when the United States is still gripped in financial scandals and climbing unemployment. “Keeping up with the Joneses is passé,” lamented Ford Motor Co.’s Mark Fields. Somebody forgot to tell that to Canadians. Amid the worst job market in 15 years, several luxury automakers smashed August sales records in Canada. Mercedes-Benz reported a 20% increase in sales and has sold 2,318 more vehicles this year than last. BMW and Lexus are also besting last year’s tally with double-digit percentage increases last month. Audi nearly doubled its sales in August over a year ago, and has sold 27% more vehicles this year. The country is in a recession and yet the luxury market is holding up. Meanwhile, sales of the most affordable vehicles, subcompacts, are down 26% through the first eight months. “It’s totally counter-intuitive,” said John White, chief executive of Volkswagen Group Canada, Inc., which comprises the Volkswagen and Audi brands. “It’s taken us a little bit by surprise. And the Audi division has had to turn around and ask [headquarters] for more cars because we didn’t think the demand would be as strong in a down market.” Mr. White’s read on the situation is that Canadians who believe they are secure in their jobs are pulling the trigger on buying middle-of-the-road luxury vehicles like the A4 sedan and BMW 3-Series, not the higher-end models. He said the luxury segment has become hyper-competitive as BMW and Mercedes “are out there as aggressive as you’ll see mainstream competitors,” offering deals that were unthinkable only a few years ago and making it easier for buyers to step into premium cars. Mercedes is offering lease deals such as $398 per month on its 2010 C250 car, based on an interest rate of 4.9% for 36 months. That’s on par with a similarly-equipped Honda Accord or Mazda6, according to the Automobile Protection Association. Roughly 40% of luxury vehicle sales transactions in Canada are leases, according to J.D. Power & Associates’ Power Information Network. One third of people pay cash while the rest take out a loan. Sales growth is particularly strong in one sub-segment of the premium market: compact luxury SUVs. Volvo, Mercedes and Audi have launched new vehicles into that category this year, which has helped boost sales volumes 66% over 2008 levels, said industry analyst Dennis DesRosiers. “We’re still a society that needs to carry stuff,” said J.D. Power analyst Geoff Helby in explaining why SUV models like the Volvo XC60 and Audi Q5 are clicking with buyers. “[People] are stepping away from the previous generation of minivans and big honking SUVs and they’re going into something smaller” without giving up luxury features. In the mind of the Canadian luxury buyer, downsizing is the compromise they’re making in the recession, Mr. Helby said. Mary Weil is proof. The media relations professional and her husband started looking around for a new vehicle earlier this year after the lease on a larger sports utility vehicle he drove expired, she recalls. They decided on a Mercedes GLK compact SUV. “The price point was surprisingly not that much higher than comparable vehicles.” In a Jan.15 analysis, Mr. DesRosiers predicted the luxury market in Canada overall will drop 5% this year. Automakers sold 131,436 luxury vehicles in 2008, a 3% decline over the year before. Financial Post nvanpraet@nationalpost.com -
Hilton is launching a New Brand DENIZEN Hotels and Montreal is on the list for a new concept hotel!!!! See the web site: http://www.denizenhotels.com/ press on Heart See also the following article: Hilton unveils new brand: Denizen Hotels Mar 10, 2009 Beverly Hills, Calif.--Hilton Hotels Corp. announced today the addition of Denizen Hotels, a global lifestyle brand, to the Hilton Family of Brands. Appearing throughout the world in international social epicenters, Denizen Hotels will cater to globally-conscious modern travelers of the world. “We are thrilled to welcome Denizen Hotels into our portfolio of brands,” said Christopher J. Nassetta, President and Chief Executive Officer, Hilton Hotels Corporation. “While we continue to operate in a challenging macro economic environment, the addition of Denizen Hotels demonstrates our commitment to continuing to invest in our long-term growth. Denizen Hotels, a lifestyle brand that will attract business and leisure travelers across cultures and generations and has an authenticity that will appeal to today’s sensibilities, will be highlighted by exceptional design and service at an accessible price point. This new brand rounds out our Luxury & Lifestyle portfolio, which includes the Waldorf Astoria, the Waldorf Astoria Collection and Conrad Hotels & Resorts.” Denizen Hotels will target corporate and leisure guests and creates an international intersection between business and pleasure with an environment that redefines how guests stay and how they play. Each hotel will offer both substance and style, creating a technology-rich, smart-in-design living environment, focusing on connecting emotionally with guests. From innovative check-in experiences to in-room curated comfort, Denizen Hotels will harness design and technology inspiration to provide a transformative guest experience for the world citizen. During a unique unveiling at the International Hotel Investment Forum (IHIF) in Berlin, a reconstructed vision of the brand experience will be presented to attendees within a shipping container. Designed to allow visitors to walk in and experience the space, this bold presentation embodies the eclecticism and global design language of the brand, expressed with the green thread of sustainability – one of the core values of the brand. “The term denizen literally means ‘citizen of the world,’” said Ross Klein, Global Head Luxury & Lifestyle Brands, Hilton Hotels Corporation. “We created this new brand in homage to guests who desire and deserve the best hotel experiences, both on an emotional and functional level. We are excited to introduce this new concept and look forward to welcoming the denizens of the world to our properties.” Denizen Hotels will offer a global voice with a local accent – cultivating a community for guests to connect within each unique location. In addition, Denizen Hotels will benefit from being a part of Hilton’s global infrastructure that supports a worldwide network of more than 3,200 hotels and 545,000 rooms in 77 countries. Highlighting local expertise, and blending with a solid support network, Denizen properties will provide an exceptional and practical experience at accessible prices in urban, non-urban and resort destinations. Social, interactive spaces will be at the heart of the Denizen Hotels brand, welcoming guests and providing exclusive hubs for relaxation and inspiration. From communal style society restaurant tables for the epicurean explorers to rejuvenation zones which will provide a personal technology-rich haven before or after check-in, Denizen Hotels creates a living community, anticipating guest needs and desires in and outside of their rooms and suites. Harnessing the diversity of world renowned architects and interior designers such as Charles Allem, Clodagh and David Rockwell to shape and envision each space, Denizen Hotels’internal and external spaces will reflect the influence and eclecticism of world class international design. Denizen Hotels is primarily aimed at the globally-conscious modern traveler. With developments planned in cosmopolitan, urban cities as well as resort destinations, Denizen Hotels provides for everything from an inspiring urban weekend getaway to a rejuvenating retreat or smart business trip in destinations across the globe. Denizen Hotels will range from unique, select experiences to larger destination resorts, creating a unified yet eclectic brand with the assurance of the Hilton brand reputation. Active development negotiations are currently underway for resorts and destinations in key cities throughout the globe; including, but not limited to Abu Dhabi, Austin, Beverly Hills (California), Buenos Aires, Cancun, Hollywood (California), Istanbul, Jerusalem, Las Vegas, London, Los Cabos, Miami, Montreal, Mumbai, New York City, Panama City and Washington D.C. “Hilton Hotels’ Luxury and Lifestyle brands have heralded a return to the authenticity of Conrad Hilton’s original vision, as realized in the 1950s,” added Ross Klein. “We listened to the comments and needs of our Hilton loyalists and are excited to introduce Denizen Hotels as our latest addition to these complementary, best-in-class brands.” For additional information on Denizen Hotels, please visit http://www.denizenhotels.com.
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New York : 170 East End Avenue, United States
un sujet a posté LindbergMTL dans Discussions générales
New condo building in NYC offers ‘couture living’ 170 East End Avenue is the latest of a crop of new luxury residential buildings recently completed in New York City. Located on Manhattan’s toney Upper East Side and situated on Carl Schulz Park, the 20-storey building, designed by Peter Marino, houses 110 couture homes with 3 to 4 bedrooms and a selection of duplexes, maisonettes and smaller one and two bedroom units. Regardless of size, Marino has brought a high degree of luxury and sophistication to the design of each apartment. All units feature custom oak rift cut and quarter sawn parquet floors, kitchens with custom wood cabinets accented with aluminum inlays and oversized stone floors, and bedrooms with master baths finished in polished Italian marble with 6 foot soaking tubs. The building’s public amenities are many and include a well stocked library, squash court, golf simulator, toddler’s play room and art room, and a fully interactive center with Arcade games. There is also a private outdoor garden and waterfall with sheep sculptures by LaLanne. http://www.worldarchitecturenews.com/index.php?fuseaction=wanappln.projectview&upload_id=11473 -
New York Decides Against Luxury Tax Proposal
un sujet a posté LindbergMTL dans Discussions générales
It's looking like New York will follow fast on the heels of Illinois in deciding not to add a luxury tax for jewelry over $20,000. The American Watch Association sent an e-mail to members on Monday saying that while the New York State Legislature has agreed to tax increases to deal with a budget deficit, the luxury tax proposal is not part of it. The luxury tax would have also applied to aircraft costing more than $500,000, yachts over $200,000, cars that cost more than $60,000 and furs over $20,000. But don't go spending yet, high earners in New York will be feeling an increased pinch. Income taxes were raised one percentage point to 7.85 percent for couples with income over $300,000 and couples with more than $500,000 in income will pay 8.97 percent. The three-year tax increase is expected to add $4 billion to the state coffers this year. -
J'ai eu cette idée de ssc.com. Quelle tour qui est présentement en contruction (ou recemment complétée) n'importe ou dans le monde, aimerais tu voir à Montréal? N'oubliez pas les photos! je commence le MoMa à NYC!!! Vraiment incroyable! NYC n'a vraiment pas peur de construire à l'avant garde. Il ne s'inquiètes pas des osties de NIMBY's!!! New York Times November 15, 2007 ARCHITECTURE Next to MoMA, a Tower Will Reach for the Stars By NICOLAI OUROUSSOFF A rendering of the Jean Nouvel-designed tower to be built adjacent to the Museum of Modern Art. The interior of Jean Nouvel’s building, which is to include a hotel and luxury apartments. Cass Gilbert’s Woolworth Building, William Van Alen’s Chrysler Building, Mies van der Rohe’s Seagram Building. If New Yorkers once saw their skyline as the great citadel of capitalism, who could blame them? We had the best toys of all. But for the last few decades or so, that honor has shifted to places like Singapore, Beijing and Dubai, while Manhattan settled for the predictable. Perhaps that’s about to change. A new 75-story tower designed by the architect Jean Nouvel for a site next to the Museum of Modern Art in Midtown promises to be the most exhilarating addition to the skyline in a generation. Its faceted exterior, tapering to a series of crystalline peaks, suggests an atavistic preoccupation with celestial heights. It brings to mind John Ruskin’s praise for the irrationality of Gothic architecture: “It not only dared, but delighted in, the infringement of every servile principle.” Commissioned by Hines, an international real estate developer, the tower will house a hotel, luxury apartments and three floors that will be used by MoMA to expand its exhibition space. The melding of cultural and commercial worlds offers further proof, if any were needed, that Mr. Nouvel is a master at balancing conflicting urban forces. Yet the building raises a question: How did a profit-driven developer become more adventurous architecturally than MoMA, which has tended to make cautious choices in recent years? Like many of Manhattan’s major architectural accomplishments, the tower is the result of a Byzantine real estate deal. Although MoMA completed an $858 million expansion three years ago, it sold the Midtown lot to Hines for $125 million earlier this year as part of an elaborate plan to grow still further. Hines would benefit from the museum’s prestige; MoMA would get roughly 40,000 square feet of additional gallery space in the new tower, which will connect to its second-, fourth- and fifth-floor galleries just to the east. The $125 million would go toward its endowment. To its credit the Modern pressed for a talented architect, insisting on veto power over the selection. Still, the sale seems shortsighted on the museum’s part. A 17,000-square-foot vacant lot next door to a renowned institution and tourist draw in Midtown is a rarity. And who knows what expansion needs MoMA may have in the distant future? By contrast the developer seems remarkably astute. Hines asked Mr. Nouvel to come up with two possible designs for the site. A decade ago anyone who was about to invest hundreds of millions on a building would inevitably have chosen the more conservative of the two. But times have changed. Architecture is a form of marketing now, and Hines made the bolder choice. Set on a narrow lot where the old City Athletic Club and some brownstones once stood, the soaring tower is rooted in the mythology of New York, in particular the work of Hugh Ferriss, whose dark, haunting renderings of an imaginary Manhattan helped define its dreamlike image as the early-20th-century metropolis. But if Ferriss’s designs were expressionistic, Mr. Nouvel’s contorted forms are driven by their own peculiar logic. By pushing the structural frame to the exterior, for example, he was able to create big open floor plates for the museum’s second-, fourth- and fifth-floor galleries. The tower’s form slopes back on one side to yield views past the residential Museum Tower; its northeast corner is cut away to conform to zoning regulations. The irregular structural pattern is intended to bear the strains of the tower’s contortions. Mr. Nouvel echoes the pattern of crisscrossing beams on the building’s facade, giving the skin a taut, muscular look. A secondary system of mullions housing the ventilation system adds richness to the facade. Mr. Nouvel anchors these soaring forms in Manhattan bedrock. The restaurant and lounge are submerged one level below ground, with the top sheathed entirely in glass so that pedestrians can peer downward into the belly of the building. A bridge on one side of the lobby links the 53rd and 54th Street entrances. Big concrete columns crisscross the spaces, their tilted forms rooting the structure deep into the ground. As you ascend through the building, the floor plates shrink in size, which should give the upper stories an increasingly precarious feel. The top-floor apartment is arranged around such a massive elevator core that its inhabitants will feel pressed up against the glass exterior walls. (Mr. Nouvel compared the apartment to the pied-à-terre at the top of the Eiffel Tower from which Gustave Eiffel used to survey his handiwork below.) The building’s brash forms are a sly commentary on the rationalist geometries of Edward Durell Stone and Philip L. Goodwin’s 1939 building for the Museum of Modern Art and Yoshio Taniguchi’s 2004 addition. Like many contemporary architects Mr. Nouvel sees the modern grid as confining and dogmatic. His tower’s contorted forms are a scream for freedom. And what of the Modern? For some, the appearance of yet another luxury tower stamped with the museum’s imprimatur will induce wincing. But the more immediate issue is how it will affect the organization of the Modern’s vast collections. The museum is only now beginning to come to grips with the strengths and weaknesses of Mr. Taniguchi’s addition. Many feel that the arrangement of the fourth- and fifth-floor galleries housing the permanent collection is confusing, and that the double-height second-floor galleries for contemporary art are too unwieldy. The architecture galleries, by comparison, are small and inflexible. There is no room for the medium-size exhibitions that were a staple of the architecture and design department in its heyday. The additional gallery space is a chance for MoMA to rethink many of these spaces, by reordering the sequence of its permanent collection, for example, or considering how it might resituate the contemporary galleries in the new tower and gain more space for architecture shows in the old. But to embark on such an ambitious undertaking the museum would first have to acknowledge that its Taniguchi-designed complex has posed new challenges. In short, it would have to embrace a fearlessness that it hasn’t shown in decades. MoMA would do well to take a cue from Ruskin, who wrote that great art, whether expressed in “words, colors or stones, does not say the same thing over and over again.”
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Australia: French Quarter To Set Brisbane Height Record
un sujet a posté LindbergMTL dans Discussions générales
Brisbane in Australia is currently having a boom in proposals and approvals for skyscrapers now it seems height limits in the city may be lifted by the powers that be. One of the most recent green-lights will see a two tower project that will house the most expensive apartments in the city. Named the French Quarter Towers the project comes from local developer Devine Limited, it consists of two towers which will be built in two stages, one standing at 54 storeys and the second at 40 storeys. With apartments ranging in price from $2.5 million to a whopping $15 million you might be expecting some spectacular, gimmicky, Dubai inspired skyscraper instead, what Brisbane will be getting is two towers which are rather reserved and elegant. Squared at the bases the towers rise up in a pretty standard boxy way until they get about a third of the way up where they begin to gently curve inwards on one side, the curve deepens before coming back out again creating a subtle sort of S shape at the tops of the towers. The shaping of the tower isn't detracted from by any epic spires or crowns the addition of which could have made the towers look decidedly trashy. The facades are glazed and balconied offering residents fantastic views and somewhere nice to enjoy a glass of wine and the odd sunset or two. Residents at the tower can look forward to unsurpassed luxury as soon as a winner is announced for a international competition to design the interiors of the towers though it can probably be assumed the towers will also be home to a six star luxury hotel that with gymnasiums, spas and restaurants you have to wear a tie in. One thing is for sure though the tower will offer the very latest in "technomenities", a fancy word invented by marketing bods that means the towers will have the latest generation smart home technology, which will include automated systems for lighting and climate, in-home entertainment and electronic concierge services. Despite the French theme, high tech auroma technology spewing out the smell of garlic will not be included, whilst the concierge is likely to be much friendlier to English speakers than a Parisian would be. Construction is hoped to start in 2009 with completion penned in for mid 2012. http://www.skyscrapernews.com/news.php?ref=1487 -
Chicago : Construction loan on hold for Waterview Tower
un sujet a posté ErickMontreal dans L'actualité
Construction loan on hold for Waterview Tower By Alby Gallun, Nov. 05, 2008 (Crain) — About seven months after agreeing to finance the 90-story Waterview Tower and Shangri-La Hotel, the Export-Import Bank of China has gotten cold feet over the stalled Wacker Drive development. The Waterview Tower and Shangri-La Hotel at 111 W. Wacker Drive remains unfinished. The bank’s refusal to approve a $400-million construction loan for the condominium-and-hotel high-rise reduces the already slim chances that the building’s current developer, a group led by Teng & Associates Inc. President and CEO Ivan Dvorak, will be able to finish the luxury project. And it increases the odds that Bank of America Corp. will move to foreclose on the property at 111 W. Wacker Drive. The Export-Import Bank has put the financing on hold until the U.S. economy improves and it sees “signs that there is a market for the condominiums,” says Zac Henson, CEO of the U.S. subsidiary of Beijing Construction Engineering Group Ltd., which was arranging the loan. While that could be a very long time, he stopped short of saying the loan had been denied. “We’re not pushing rewind, we’re not pushing eject, we’re just pushing pause,” Mr. Henson says. “I certainly think that the for-sale condo market in the U.S. needs to rebound” for the bank to reconsider the loan. The bank’s decision leaves Mr. Dvorak in a tough spot. He has been courting equity partners for the $500-million project for some time, and more recently has been trying to sell off its hotel, condo and parking components separately, according to people familiar with the development. Under one scenario, the developer would finish the hotel and sell the rights to build the condos later, when the condo market recovers. But running a luxury hotel while construction is under way on the building’s upper floors would be extremely disruptive and a potential deal-killer. Another option: Convert the current structure, a 26-story concrete shell, into apartments. “They’re looking for anything, any option for a transaction,” says one person aware of Mr. Dvorak’s plans. Mr. Dvorak and Teng executive Sean McMahon did not return phone calls for comment. Unlike most developers, who don’t break ground until they get a construction loan, Mr. Dvorak and his partners financed the early construction of the Waterview project with their own money, betting that they could secure a loan later. They took out a $20-million bridge loan from Chicago-based LaSalle Bank N.A. in February 2007, but financing sources started to dry up several months later as the credit markets froze. With U.S. banks halting most construction lending, Mr. Dvorak looked overseas for a savior and seemed to have found one in April, when the Export-Import Bank said it would finance the project. But as the loan approval process dragged on and panic gripped the financial markets this fall, the financing looked increasingly shaky. LaSalle has already extended its loan once, but the bank’s new owner, Bank of America, probably won’t be as patient given the project’s dimming prospects. The loan has yet to be transferred to Bank of America’s workout group, but it may be only a matter of time before the bank files a foreclosure suit, say the people familiar with the project. A bank spokesman declines to comment. Construction firms walked off the job several months ago, and liens for unpaid bills from them have been piling up. The list of firms that are owed money include Teng, a Chicago-based architecture and engineering firm, and its affiliates, which together have filed liens on the project for more than $32 million. Buyers have signed contracts for 156, or 67%, of the residential condos in the building, according to Chicago-based consulting firm Appraisal Research Counselors. With an average price of more than $800 a square foot, the condos are among the most expensive in new buildings in the city. The tower’s 200 hotel units are also being sold off individually as condos; buyers have signed contracts for 80 of the condo-hotel units, or 40%, according to Appraisal Research. Shangri-La Hotels & Resorts, the Hong Kong-based luxury hotel chain that would run the hotel, remains committed to the development, according to an executive. The developer “has fulfilled its obligations to us,” says Shangri-La Regional Vice-president Stephen Darling. “We’re excited about the project and we hope that everything will materialize as it should.” -
http://www.canada.com/montrealgazette/news/saturdayextra/story.html?id=34389692-7401-4f72-8dc1-0193f394a578&p=1 A partir de samedi le 16aoùt 2008, une série de sept articles sur le patrimoine architectural de Montréal. Ce samedi, le restaurant du 9ième étage de l'édifice-amiral de l'ancien magasin Eaton. Aujourd'hui : le Wilder Block Luxury to the 9TH ALAN HUSTAK, The Gazette Published: Saturday, August 16 Like all cities, Montreal has its share of aging buildings that aren't architecturally significant but contribute to the texture of the streetscape and help identify neighbourhoods. Often, how a building fits into its surroundings is more important than how it looks. When old, familiar structures are torn down to make way for another overscale high-rise, the city is diminished, some say. A bigger problem is that many important buildings in Montreal have been allowed to deteriorate as real estate speculators, developers and politicians spar over profit margins, zoning regulations and height restrictions. Montreal is no longer a place where we tally up heritage losses, as we did in the 1960s and '70s, when sections of historic Old Montreal were razed and mansions in the Square Mile were demolished in the name of progress. Still, urban planners keep tabs on sites they consider at risk. We look at some of the properties on Heritage Montreal's list and invite readers to share their views on whether these places should be saved or surrendered. - - - WITH ITS OPAL GLASS WINDOWS, nickel steel railings, and pink marble columns with black Belgian marble accents, Le 9e dining room in the former Eaton's building downtown remains one of the most staggeringly beautiful art deco rooms in Montreal. But the restaurant has been off limits to the public since the Eaton's department store chain went bankrupt and closed its flagship Montreal store in 1999. Inspired by a trip company matriarch Lady Eaton took aboard the transatlantic luxury liner Île de France in the 1920s, the dining room was incorporated into the plan when Eaton's decided to expand its Ste. Catherine St. store to nine floors from six in 1928. The 650-seat dining room opened on Jan. 25, 1931, as Le François Premier, but the ladies who lunched there never called it that. It was always known as "The Ninth Floor." The room is the work of interior designer Jacques Carlu, the French-born professor of advanced design at the Massachusetts Institute of Technology. He was also responsible for the celebrated Trocadéro in Paris and the Rainbow Room in New York's Rockefeller Plaza. The restaurant is an elegantly proportioned space, 40 metres long and 23 metres wide, with a 14-metre ceiling. It has two smaller dining rooms off to the side, the Gold Room and the Silver Room. At either end of the main room are two allegorical cubist murals, Pleasure of the Chase and Pleasures of Peace, painted by Carlu's wife, Natasha. Initially, the Ninth Floor foyer offered a panoramic view of the city, but the vista disappeared as more skyscrapers arose downtown. Even before the restaurant opened, The Gazette enthused over its opulence. "Spacious and lofty, it is a room fit for a palace," an article in the paper said at the time. It was never a high-end gourmet restaurant, but the food was substantial, the ambience luxurious, and the wait staff attentive and motherly. After Eaton's closed, the building was sold to Ivanhoe Cambridge, a real-estate arm of the Caisse de dépôt et placement du Québec, which invests funds from the Quebec Pension Plan. There were rumours the site would be incorporated into a luxury hotel - which was never built - and it would reopen as a swank supper club. It has been used occasionally for private functions. Even though the Ninth Floor has been declared a heritage site by the provincial government, that classification does not oblige the owner to maintain or conserve the space. An official of Ivanhoe Inc., which owns the former Eaton's building, confirmed the real-estate firm has entertained several offers but has not decided what to do with the property. What should be done? Preserve it: The Ninth Floor restaurant and the elevator shafts leading to it were declared a heritage site by Quebec's Culture Department in 2001. If that floor of the former Eaton's store continues to be mothballed, it might be forgotten altogether or converted into private offices, inaccessible to the public. Forget it: The plumbing at the Ninth Floor requires a major overhaul to meet health standards. And without nine floors of retail space beneath the restaurant to attract customers, the room might not be a profitable commercial venue for another 20 or 30 years. - - - Landmarks in limbo: The series Today: Le 9e, popularly known as the Ninth Floor, the art deco restaurant at the former Eaton's store downtown. Day 2: The Wilder Block on Bleury St. Day 3: The Redpath Mansion on du Musée Ave. Day 4: The Montreal Planetarium at St. Jacques and Peel Sts. Day 5: Grain Elevator No. 5 on Montreal's waterfront. Day 6: Louis-Hippolyte Lafontaine House, at Overdale Ave. and Lucien L'Allier St. Day 7: The Guaranteed Pure Milk Co. bottle, overlooking Lucien L'Allier St. ahustak@thegazette.canwest.com montrealgazette.com Share your views Which historical and cultural sites in Montreal should be maintained? Which should be demolished? Give us your opinion at montrealgazette.com/soundoff A trip through the past Log on to our website to view a slide show of Montreal's threatened landmarks and hear the history behind them. Go to montrealgazette.com/galleries
