TAMPA - Donald Trump, the celebrity real estate mogul whose name is connected to a planned 52-story luxury condominium downtown, said Tuesday he's concerned about the project's progress and financing and is willing to buy out the Tampa-based developer's interest.

As long as his name's on it, he wants the estimated $220 million Trump Tower Tampa to be a success.

"This is the only job I have in the world that isn't going up quickly," Trump said in a telephone interview with The Tampa Tribune. "I could build that [tower] out of my back pocket. This isn't a big job for me."

Calls to the developer, SimDag LLC, were not returned. Questions about the project were e-mailed to the project's spokesman David Hooks. By late Tuesday night, one was answered. Hooks confirmed by e-mail that two firms are bidding to finance the project.

Trump revealed for the first time Tuesday that his deal with SimDag is a licensing agreement and that he has had little involvement with details of the project.

Of Trump's 25 projects worldwide, he said 40 percent are such licensing agreements. In the Tampa deal, the Trump name was licensed for an undisclosed sum and percentage of the sales. In return, the developer must agree to certain standards, such as "the best refrigerators, curtains, flooring."

"We turn down six jobs for every job we agree to," Trump said.

The building, touted as a crowning jewel in Tampa's downtown redevelopment, has yet to go vertical. Eby Paul, SimDag's project manager, said Friday the developer did not have its construction financing but was getting close to naming a new general contractor. He said he hoped to increase construction next week.

Since the Tampa project was announced in January 2005, at least two contractors have been dismissed. Groundbreaking deadlines and completion dates have been pushed back several times, and at least $40 million in construction increases were passed on to buyers with reservations to buy units.

On June 14, the general contractor who was let go in April filed a $1.6 million lien on the property with Hillsborough County. Dallas-based Turner Construction Co. said it had not been paid for "furnished labor materials, equipment, tools, supervision and related services" for Trump Tower.

Meanwhile, Trump said he wants to the see the tower take off. He said when he was approached by the developers in 2004, he "liked the design of the building" and his organization "made it better."

"The developers have great confidence that they're going to build," Trump said. "But if they don't build it, I would love to buy them out and move forward. I like the location and the design, and I love Tampa."

Beyond the name, Trump said he hasn't been involved in the day-to-day dealings of this project. While he has development partners on many of his projects, he said the Tampa deal is unusual.

Other towers that he either owns and is developing himself, or owns a larger stake in, are going up faster, he said. He noted Chicago's $800 million, 92-story tower has 15 floors in the ground. Construction on towers in Las Vegas and New York are well under way.

Jay Magner, who purchased a unit on Trump Tower Tampa's 40th floor for $1.1 million, said he bought for the Trump name but believes in SimDag.

"I feel like I know SimDag better than Donald Trump," Magner said. "I mean, he's had bankruptcies before.

"If [Trump] takes it over, it will be fine because I don't think he wants anything that could damage his reputation. But I have confidence in SimDag."

The condominium market has changed drastically since developers announced the project 19 months ago. There are more than 30 towers proposed for downtown Tampa, and lenders are much more cautious in backing deals.

Bankers who financed other Florida condo projects have told the Tribune it will be difficult for Trump developers to find the kind of financing they want.

Trump said that wouldn't be a problem for him.

"Banks love me," he said.

Now that interest rates have risen and condominium construction has slowed nationwide, name branding may give some projects an advantage, said Jeff Swystun of New-York-based Interbrand, which tracks the value of brand names.

"People are willing to pay a premium for the brand."

Branding does pose risks for Trump, though.

"If [the developers] don't follow through with their project, the brand breaks down," Swystun said, noting that Trump's thought of buying the developer out is "a pretty smart move."

"Now, isn't that a guarantee of the quality of his brand?"

Reporter Shannon Behnken can be reached at (813) 259-7804.