First St. Regis Residential Luxury Property in Canada Announces Sales Program, and Details of Anticipated Hotel Rebrand
TORONTO, Sept. 28, 2017 /CNW/ - Executives of JCF Capital, a joint venture between Juniper Capital Partners ("Juniper") and Cowie Capital Partners Inc. ("CCP") joined with management of The Adelaide Hotel this morning at a media conference to announce the developer's official sales launch of a portfolio of luxurious condominium suites at 311 Bay Street, to be flagged the St. Regis Residences Toronto.
Today's announcement offered details of a redesign of the residential suites, illustrated the distinctive amenity offering and exclusive perks and privileges package available to suite owners, and shared preliminary details of the plan to rebrand the hotel as Canada's first St. Regis.
Following a court-approved sales process, JCF acquired the 211-suite hotel, 74 residential units including the commercial, retail and amenity spaces of the property at 311/325 Bay Street in March 2017. Subsequently, JCF sold the hotel assets to a company that holds one of Canada's largest hotel portfolios.
At the time of the sale, it was announced that the property would operate as The Adelaide Hotel under the management of the St. Regis, during a renovation phase, before ultimately being relaunched as The St. Regis Toronto.
"We were thrilled to acquire this signature property," says JCF Capital President, Jay Wolf. "The opportunity to own this iconic landmark building, to re-envision and re-invest in the residential offering, and to establish a new standard for luxury in the Canadian residential market, was one we couldn't pass up.
"Our efforts to revitalize the condominium program (including condominium suite designs and amenity offerings) and, together with the St. Regis, deliver a standard of management without parallel, will contribute greatly to our successful marketing of the residential portfolio going forward," he adds.
As the first condominium residence in Canada to be managed by the St. Regis, suite owners will benefit from a company renowned for its impeccable level of service and a lifestyle without parallel.
"Toronto's residential real estate market has achieved a global reputation for providing tremendous value, stability and returns for its end-users and investors," notes JCF Chief Operating Officer, Kate Hay. "And while we have seen the arrival of international brands associated with luxury contribute to the success of the real estate market in downtown Toronto, the St. Regis brand stands alone on the world stage, and its absence from the local market left a noticeable void-- one we are filling with the launch of our residential sales program today."
Condominium suites in the St. Regis Residences Toronto range from 1,310 sq.ft. to 11,755 sq.ft., with prices that start at $1,600,000 to more than $23,000,000.
Lead by Toronto-based designer Ann Johnston, plans for residential renovations at the property will include a redesign of the suites, as well as the residential lobby, elevators, corridors, and common areas that are shared with the hotel. These plans will no doubt complement the already iconic structure conceived and designed by the world-renowned Canadian architectural firm Zeidler Partnership Architects.
The hotel is also undergoing a series of visible and invisible improvements, including plans for a fully reimagined hotel lobby and lounge; and a significant redesign and concept change of the 31st floor Restaurant and Bar. These renovations will precede the rebranding of The Adelaide Hotel as the St. Regis Toronto. Other future enhancements include the Spa, Fitness facility and Guest Suites and Meetings space on the 30th floor.
"We are delighted to assume the management of the condominium and the hotel," says Tim Terceira, General Manager, The Adelaide Hotel and the St. Regis Residences Toronto. "For the St. Regis residential owner, we offer an elevated lifestyle on a more permanent basis to help Residents achieve their lifestyle goals. We offer access to hallmark hospitality services and believe that service should not simply be reactive, but anticipatory and spontaneous. We look forward to providing Residents the essence of luxury residential living – it is Gracious, Intuitive, Expressive, Timeless and Prestigious".
SOURCE St. Regis Residences Toronto
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