BRITISH COLUMBIA

Donald Trump Tower Vancouver Announcement

06/19/2013 09:24 EDT
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Donald Trump flies into Vancouver today to make an announcement widely expected to herald the arrival of one of his signature "Towers" in the city.

Trump will be travelling with sons Donald Jr. and Eric, and daughter Ivanka, to "celebrate the official launch of Holborn, TA Global and the Trump Organization’s new project", stated a press release distributed last week.

But the real estate magnate and reality TV star may not be putting his money where his mouth is: Trump may be lending his name to the project to jump start sales, but not necessarily investing in the building himself, The Province reported.

Not that he doesn't have the cash - Trump's net worth was $3.2 billion as of March 2013, according to Forbes magazine.

Trump's only other Canadian foray - Toronto's Trump International Hotel and Tower - spent 2012 mired in legal conflicts and poor sales.

Described as "what will be one of Vancouver's most iconic buildings," news of the project followed earlier reports that a deal was closing on the site of the cancelled Ritz-Carlton hotel project, which stalled in 2009 as a result of the global economic meltdown, the Vancouver Sun reported.

The original design for the 63-storey building — to have been a mixed-use condo and hotel property — was a twisting tower created by Vancouver's most famous architect, the late Arthur Erickson, Metro News reported.

Along with the Trumps, president and CEO of Holborn Joo Kim Tiah and Vancouver councillor Geoff Meggs will be in attendance at the announcement.

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