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Is Trump Tower a go? Talk continues, but no action
By Staff Report
St. Petersburg Times
Published: Sep 7, 2007

This week was supposed to climax Trump Tower Tampa’s two year pursuit of financing. Area developer SimDag LLC promised either to seal a deal to build the $300-million luxury high rise or concede defeat and refund buyers’ deposits on condominiums costing up to $6-million. But as the work week drew to a close Friday, the downtown Tampa project found itself in familiar territory: limbo.

SimDag announced on its Web site in late August that it was nearing the point when its proposed lender, a New York hedge fund, would decide whether to commit to the project. One condition of the deal was whether Donald Trump, the New York tycoon and lifestyle icon who would license his brand name to the project, drops a lawsuit against SimDag. Trump’s suit was filed in May and demanded $1.03-million in fees owed by SimDag.

Negotiations among the three parties continued for much of this week. But as of Friday, SimDag would neither claim victory nor admit defeat. "As soon as we hear we’ll let you know," SimDag executive Eby Paul told the Times in an e-mail Friday.

"They’ve e-mailed us nothing new," said George Galiourides, one of the condo buyers.



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