Buyers looking forward to what will become the tallest real estate scheme in New Orleans may have to wait a little longer after the project faced a delay.
Trump International Hotel and Tower is set to spring up in the US city but is facing stumbling blocks connected to the credit crunch, according to reports.
Developed by property investment mogul Donald Trump, the tower will reach 70 storeys and include hundreds of luxury condo real estate opportunities.
The project has already fallen foul of natural disaster – it was first unveiled in 2005 just days before Hurricane Katrina devastated the city.
Stephen Dwyer, a representative of the developers, told Business Week the financial climate need to alter before the scheme could move forward, saying “the credit markets aren’t back in a way to allow the financing to move forward.”
But he added builders still hope to push on with the ambitious real estate scheme by the end of 2009.
The tower will include 10 foot floor to ceiling windows, penthouse properties, a residents-only entrance area and Hardwood or Travertine floors throughout.
In total residential real estate will stretch to 295 units and the hotel part of the tower will have 435 deluxe guest rooms and residences
Donald Trump is also behind a number of other property investment schemes, including a project in Dubai.
Besides construction, the entrepreneur is also behind a series of real estate business teaching courses.
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