Quote:
Originally Posted by ardecila
I'm pretty sure they will finish the building up to its final height, but the bottom hotel portion will be unoccupied. It'll probably end up as either residential units (condo or rental) or Magellan will be able to line up another hotel tenant. Also, as trvlr70 mentioned, the amenities in the podium may not be finished either (ballroom, pool, gardens).
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It may be difficult and/or very expensive to convert these hotel rooms into residential. Moving or adding plumbing/electrical, etc this late in the game is costly.
I think it will be very difficult to get another hotel in there. Remember, this was an addition to an existing hotel so I'm sure a very specific program was designed specifically for the Fairmont. These rumours have been circulating for a while so perhaps Magellan has plan b in the works.
Also, I wonder how this effects the mind set of the condo buyers. Were they promised any kind of services for the hotel?
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