Monday, May 15, 2006

As reported by the Commercial Property News: "Donald Trump has unveiled
plans to build a $300 million Trump Tower in Philadelphia, in a former
industrial area that has recently become the site of several significant
residential developments. "The 45-story luxury condominium building will
house 263 condos priced between $700,000 and $3.5 million. "'The site is
also near where some casinos may eventually locate,' explained Jonathan
Stavin, first vice president with CB Richard Ellis Inc. who specializes in
multi-housing investments. "'A school of thought within the real estate
community here feels that the decision to build this tower at this time is
closely related to his attempt to get a casino license.'."