Michael Sallah reports on the financial meltdown surrounding Donald Trump's completed but empty $200 million International Hotel & Tower on Fort Lauderdale Beach.
Sallah recounts the process by which Trump's dream of "a luxury high-rise shaped like an ocean liner and bearing his name that would turn Fort Lauderdale Beach into an international draw" has turned into a "hulking, empty tower casting a shadow over one of Florida's most popular beachfronts" and a court battle for duped investors.
Was the project a victim of a historically poor real estate market or more nefarious reasons? All of the above, it sounds like from Sallah's report featuring project delays, a market plunge, shady deals with a onetime mob associate, and the eventual withdraw of Trump's name from the project mere months before it was scheduled to open.
"Three years after the tower was to open its doors, investors are demanding millions in down payments on at least 60 units - priced between $500,000 and $3 million - accusing the developers of massive fraud."
FULL STORY: Trump’s tower of trouble: anatomy of a financial fiasco
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Los Angeles Reaches $38.2 Million Settlement over Allegations of Defrauding HUD
The City of Los Angeles has settled in a case filed by a whistleblower alleging that it falsely certified homes in its HUD-funded affordable multifamily housing program as accessible by people with disabilities.
Twitter for Planners in 2022
Twitter is changing, not in the way Elon Musk wants it to, but it’s still perhaps the most useful social media platform for planners looking for education and engagement.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Maui's Vacation Rental Debate Turns Ugly
Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.
San Francisco Suspends Traffic Calming Amidst Record Deaths
Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.
Amtrak Rolls Out New Orleans to Alabama “Mardi Gras” Train
The new service will operate morning and evening departures between Mobile and New Orleans.
The Subversive Car-Free Guide to Trump's Great American Road Trip
Car-free ways to access Chicagoland’s best tourist attractions.
San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Heyer Gruel & Associates PA
JM Goldson LLC
Custer County Colorado
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Jefferson Parish Government
Camden Redevelopment Agency
City of Claremont