trump tower gasping
tommyThe Tampa Tribune reports that the developers of Trump Tower Tampa are close to giving up the ghost. One single financing option remains, and if that fails, they are ready to walk away and sell.
You might remember when Donald Trump welcomed everyone to get in on the ground floor of the “tallest building on the Gulf Coast.” Now his name is becoming mud all over America. No matter, the Donald is looking to Puerto Rico.
As far as the downtown spot, mayor Pam Iorio has had her eyes on the riverfront property since July of last year. Look for the city to buy it and add to the Riverwalk.
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March 11th, 2008 at 1:24 pm
great now Pam can bail out these wealthy developers with my hard earned tax dollars. Not that I could use the tax savings for anything! Gotta love America. Privatize the profits and socialize the losses.
March 11th, 2008 at 3:55 pm
Still think it would have been cool if they topped the building with a big hair piece. That way you know it was a Trump building!
March 11th, 2008 at 4:27 pm
Well THAT figures. Everyone has known for years that Trump has overextended himself repeatedly, and his various TV shows really don’t portray the man as he actually is. But some people still fall for it…
March 11th, 2008 at 4:58 pm
This is probably the best move for everyone who got involved with that project, especially those who were buying on spec.
I’ve been out of the area for several years. Does anyone have access to stats about the available units in comparable buildings that have gone up recently (Towers at Channelside, SkyPoint, Plaza H.I, etc.)?
March 11th, 2008 at 11:24 pm
Donald Trump only lent his name to the building in a contractual agreement. It’s SimDag who owned the property and was goign to build the building.
But those who want to crap on Trump fit the developers initial wish — that people assume it’s a Trump property becaue the name is on it and The Donald is responsible for everything.
March 12th, 2008 at 9:57 am
Doesn’t this all seem to be a bit old? I could’ve swore I read all of this in the Tampa Business Journal months ago! In fact, I did!
March 13th, 2008 at 11:07 am
A recent search of bankruptcy stories will give you the info you need, Jcyreus. The Towers at Channelside is 70% unsold, and the Grand Central at Kennedy is mostly unsold as well.
The Plaza at Harbour Island has been putting out great press releases for years (almost sold out, a couple units left!) but I walked by there the other night at 8 pm and counted 6 units out of about 100 with lights on.
I’m not sure what Rich is complaining about. Does he think that the city is going to pay the developers, or does he just hate America?
March 13th, 2008 at 12:16 pm
Thanks Tino. It is good to get the local scoop on these types of things (like your comment about the Plaza). I lived in Tampa for 12 yrs (USF grad) before taking a job out of state. Now, I have my house on the mkt with plans to move back, which is why I asked.
As far as Rich’s comments go, I can understand the frustration…heck, no one likes paying taxes, but if the land can be put to good public use, I would be all for it. Getting local corporations to sponsor development of a park area is one way to lessen the financial burden on the people of Tampa.