Trump sets sights on Dallas
Real estate tycoon Donald J. Trump says he's eying land in North Texas for a project called Trump Tower Dallas.
"We're literally looking at something right now, and if we do it we'll make it very, very successful," Trump told the Dallas Business Journal on Thursday.
While he declined to provide specifics, the wealthy entrepreneur said he'll visit the tower's proposed site next month when he speaks at the Learning Annex Real Estate Wealth Expo at the Dallas Convention Center.
"The speech is giving me the incentive to go out and look at the land," Trump said. "The land that we'll purchase will be terrific, if we decide to do this."
Asked to describe the site's location, Trump said: "I'd rather not. Because otherwise, it won't be available for purchase for very long."
Trump, president and chairman of the New York-based Trump Organization, developed the Trump Tower skyscraper and the Trump International Hotel & Tower, a luxury hotel and residential building, in New York.
Most recently he announced plans for Trump Tower Philadelphia, a 45-story, $190 million luxury condominium project along the Delaware River waterfront. It would be similar to other Trump buildings planned for Las Vegas, Chicago and Tampa, Fla.
Experts say Dallas has been a hot market for high-end condos. The most successful such projects have been the W Dallas Victory Hotel and Residences and the Residences at The Ritz-Carlton, said real estate consultant Ted Wilson, a principal at Dallas-based Residential Strategies Inc.
That's mainly because both the W and the Ritz have "national and even international brand appeal" and are associated with full-service hotels, Wilson said.