Quote:
Originally Posted by StatenIslander237
I can give you a bump. Who can tell me about the Trump project here? I recall it was supposed to top your current tallest and that was a few years ago. How come it never materialized?
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There were problems with the soil. By the time a fix was formulated, the real estate market collapsed. Call it another victim of the global financial crisis.
"Cost overruns won't be the only obstacles Related [the development company] faces. Soil issues at the site, unpaid contractors and a general perception from the community that the 52-story luxury condominium tower will never be built also stand in the way of making the tower a success."[2]
On May 30, 2007, Donald Trump demanded his name be removed from the project, and sued the developers for over $1 million in unpaid license fees for the use of the Trump name. On the same day, the phone at the developer's office was listed as disconnected. The project's future is uncertain.[3]
As of June 7, 2007, the web site for the project states that the developers intend to continue the project, are meeting with unit buyers and are seeking new financing.[4]
From
Wikipedia