News & Press

Trump to unveil plan for condos on river

By GLORIA CAMPISI & EARNI YOUNG

Philadelphia will get its first glimpse tonight of the luxury high-rise condominium tower planned by real-estate tycoon Donald Trump for a pier on the Delaware River.

Trump, also bidding to build a casino in the Nicetown-East Falls area, plans to unveil plans for the 263-unit, $190-million Trump Tower Philadelphia, which he plans for Pier 35 , 709-17 N. Penn Street. The pier sits on a thin wedge of land that juts into the river just north of Spring Garden Street.

Trump and financial partners Multi Capital want to open the tower in 2008.

But a spokesman for the state Department of General Services said yesterday the project would be affected by a moratorium issued recently by Gov. Rendell on building plans along the Delaware River waterfront.

Exactly how long that might hold up construction is unclear.

The developers have met with the Department of General Services and the department is "reviewing the situation," spokesman Edward Myslewicz said.

Trump planned to unveil a 10-foot scale model of the project at the Union League before a crowd of 700-plus tonight, including his son and daughter, Donald Jr. and Ivanka, and socialites, arts and sports figures. Patti LaBelle and the O'Jays were scheduled to perform. Trump also plans Trump Tower buildings for Las Vegas, Tampa and Chicago.

The Philadelphia plan calls for a range of condos from junior one-bedroom units to three-bedroom duplex penthouses with 10- to 16-foot-high ceilings, a stainless- steel and blue-glass curtain wall, Brazilian hardwood floors, fireplaces in all two- and three-bedroom residences, and bathrooms with limestone floors and walls, Italian fixtures, granite countertops and oversized air-jet bathtubs.

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About Multi Capital LLC

Multi Capital, Inc. (www.Multi-Capital.com) is a nationwide finance company specializing in the full spectrum of real estate financing. Multi Capital is known for its expertise in arranging Senior Debt, Mezzanine, and Equity for Development Deals. With its financing experts originating from the real estate development arena, Multi has the expertise needed to syndicate these transactions.

Multi Capital provides a service that is unmatched in efficiency, speed, and thoroughness. Multi currently has over $600,000,000 in development deals in the pipeline.