The Globe and Mail

Brash U.S. property mogul Donald Trump wielded his shovel with gusto Friday at the ceremonial groundbreaking for a $500-million luxury hotel and condominium project in he said will do Canada proud. Mr. Trump bragged that the project, which has seen false starts and design changes that lopped off a dozen floors, has already sold more than $300-million worth of units. “We're going to have one of the great buildings anywhere in the world,” Mr. Trump enthused. “Everybody in Toronto is going to be very, very proud; everybody in Canada, as a matter of fact, is going to be very proud.” The 57-storey building at the corner of Bay and Adelaide streets in the heart of Toronto's financial hub is Mr. Trump's first foray into Canada. It's expected to be completed in about two years. When initially announced in 2001, the Trump International Hotel and Tower was to have been 70 storeys and was described as the tallest residential building in the country. However, amid difficulties financing the project and reports of slow pre-sales and questions about whether Toronto could support such an upscale building, it was later scaled back, ostensibly for technical reasons.