Construction has begun at the northwest corner of University Avenue and Adelaide Street West in downtown Toronto.

Shangri-La Hotels and Resorts, Asia Pacific's leading luxury hotel group, signed   an agreement with Vancouver's Westbank and Peterson Group to manage the 202-room five-star Shangri-La Hotel, Toronto opening 2011. The hotel will be Shangri-La's second property in Canada following the debut of the Shangri-La Hotel, Vancouver in January 2009 by the same development team.

The hotel will occupy the first 17 floors of the C$430 million 66-storey tower. Its 202 guestrooms will be among the most spacious in the city and decorated in a contemporary style with Asian highlights.

The hotel's function rooms, on the third floor, will open onto a landscaped garden terrace as well as overlook the historic Bishop's Block to the southwest. The ballroom will seat 200 and four smaller rooms will seat 12 to 50 persons. All function rooms will offer floor-to-ceiling windows and an elegant pre-function foyer. A screening room/theatre seating 50 guests will provide a venue for screenings or executive presentations that require dramatic special effects.
Westbank is Canada's pre-eminent luxury residential developer. The company was founded in 1992 and emerged as a leader in the development of retail shopping centres. Today, emphasis is on selecting key urban spaces to develop environmentally sensitive mixed-use/residential properties, defined by world-class design, amenities, landscape architecture and compelling public art. Westbank is currently developing or has completed over 11 million square feet of real estate exceeding $3.7 billion in cost with new properties in Toronto, Vancouver, Victoria, Edmonton and Dallas.

Peterson Group is a leading private real estate and manufacturing company with offices in Vancouver and Hong Kong. The company is recognized among its peers for bringing a proven, progressive and entrepreneurial approach to signature developments and acquisitions as well as to ventures in the manufacturing sector. Peterson Group's North American real estate portfolio totals over 5.4 million square feet and is comprised of large, mixed-use developments including retail, office, residential and institutional properties.

For further information on Shangri-La, and other fine luxury condominium homes, please click here to contact Jeffrey Joseph