Monday, March 19, 2007

Trump Condo in Tampa Sales Slumped

Sales launched in 2005 downtown Tampa, and Donald Trump state the architectural design is truly distinctive with residences will afford sweeping view of the water. He projected a major success with reservations in 98% of the units. The ground breaking was in March 2006 with completion in 2008, but this building standing with 30 story concrete tower, with rusting steel and idle cranes. This project is plagued with vanishing buyers and lenders, and with cost overruns with many contractors and devlopers. The project has $3 million in construction liens. Trump stated last year he would by out the project and develop with his own funds which has not happened, and an Orlando private-equity group which bought controlling interest has now closed office, and being investigated. Buyers who put down 20% are demanding their money back. The sales agent is still oppotimistic that people will be moving in 2009. Courtesy Orlando Sentinel 3/18/07.