Work on a real estate project in Canada by property mogul Donald trump is pushing ahead despite the credit crunch.
Trump Tower, Toronto , is now under construction and when complete will feature 70 storeys and luxury penthouse homes.
It is the first real estate project built in Canada by Trump, who already has a number of luxury new homes projects around the globe.
Described as an “homage to classic Manhattan skyscrapers” buyers of the homes will get their own access through a dedicated residential lobby.
Buyers can also rent their real estate investment through the tower’s hotel, with condo suites available off plan with an option of taking up a hotel rental programme so the property generates revenue when empty later.
The entire real estate planwas originallyput on hold while financing was finalised, before kicking into life in 2007 to 2008.
Now due for completion in 2010, hotel condo homes in the tower can be secured with adeposit of 20 per cent of the purchase price.
Chicago’s real estate market is also getting the Trump treatment , with a 415-metre tower under way in the US city. Also a combined hotel and condo development, the Chicago project is scheduled to be finished this year.
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