|By Howard Stutz, Las Vegas Review-Journal|
Knight Ridder/Tribune Business News
May 5, 2005 - Prospective buyers have reserved 100 percent of the available condominium units in Donald Trump's first planned Las Vegas development, a project representative said Wednesday.
Now, the trick will be to turn those who deposited either $10,000 or $20,000 for one of the 1,282 high-rise dwellings into actual buyers.
Trump, the New York developer who has flirted with expanding his business operations to Las Vegas over the years, said a few months ago that interest in the $500 million, 64-story Trump International Hotel and Tower was so phenomenal that he planned to build a second identical tower on the site behind the New Frontier.
Trump, along with Frontier owner Phil Ruffin, announced plans for the nongaming facility last summer.
The tower will include 880 studio units and 352 one-bedroom condominiums on floors 16 through 59, and 50 suites of one, two, or three bedrooms on the top five floors. Prices range from $600,000 to $6 million.
The tower would place Trump's name in lights high above Las Vegas, within walking distance of the Strip and across from Fashion Show mall.
Jack Christie, vice president of sales and marketing for Trump International, said the development's sale representatives are taking names for a waiting list in case any of the reservations fall through.
"We're still developing a list of interested buyers," Christie said. "We have a number of stages to go through, and of course, turning these reservations into sales will be a priority."
Christie said Trump visited Las Vegas last week to attend the grand opening festivities for Wynn Las Vegas and get an update on the Trump International's progress.
He said building permits and other construction related matters need to be completed before a groundbreaking date, possibly this summer, is announced.
Christie said Trump International's $3 million, 8,100-square foot sales center on the Strip in front of the New Frontier should be open by mid-June.
The building will include models of a studio unit and a one-bedroom suite, a 10-foot replica of the building, audio-visual presentations, information kiosks and interactive computer monitors.
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