N.O. City Council OKs 70-story Trump tower
The Times-Picayune ^ | March 16, 2007 | Bruce Eggler
Posted on 3/17/2007, 4:07:05 AM by Lorianne
Clearing its last regulatory hurdle, plans for the 70-story Trump International Hotel & Tower on Poydras Street won unanimous approval Thursday from the New Orleans City Council.
The 1.6 million-square-foot tower, estimated to cost about $400 million, would fill most of the largely vacant block bounded by Poydras, Camp, Natchez and Magazine streets. It would be 716 feet high, plus a 126-foot spire, and would contain 734 luxury condominium and hotel units and a 715-space garage.
Florida developer Cliff Mowe said he hopes to break ground this summer on what would be Louisiana's tallest building. Construction is expected to take 28 months, putting completion in late 2009.
New York real estate magnate Donald Trump announced on Aug. 25, 2005, that he would join a team of Florida developers in building a 70-story tower in New Orleans. Hurricane Katrina hit four days later, but within two weeks Donald Trump Jr. said the developers would go ahead with the project.
Although financing has not been nailed down, Mowe has said several large lenders are interested in the project, in part because of Trump's involvement.
No one spoke against the proposed tower at the council meeting. The plans were approved 5-0 on the recommendation of Councilwoman Stacy Head, whose district includes the site. "This is Trump," Head told her colleagues in asking for approval. "Woo-hoo."
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