February 12th, 2008 categories: New Condo Projects
The Trump Towers Sales office is opening in a couple of weeks at 601 Poydras in the Pan Am building in the New Orleans Warehouse District. A recent article in the Times Picayune recently said about the project.
“Donald Trump Jr. said the condo-hotel units should appeal to executives from the energy sector who visit New Orleans regularly and want to keep a pied-a-terre in the city. With the dollar weak and interest rates low, Trump also expected investors from Europe and Latin America to buy inside the building.
He said well-heeled locals, especially those with grown children, might also consider moving downtown. Condos and condo-hotel units will start at $400,000 for a studio and top out at several million dollars for a penthouse.
“There is a natural cycle we have seen in the market where baby boomers no longer want a home where they have to worry about leaky pipes and mowing the lawn,” Trump said. “They are migrating to condominiums in urban areas.”
Cliff Mowe, one of the tower’s developers, said Thursday that the building would include retail space on the ground floor, followed by 15 floors of parking and a sky lobby on the 17th floor. The condominium-hotel units will occupy the next 15 floors, followed by traditional condos on the uppermost stories. “
The $400 million building will have two rooftop pools, one for all occupants and one for condominium owners only. Mowe said there will be separate entrances and elevators for hotel guests to ensure the privacy and security of full-time residents. “
Once 50% of the units are sold the project will begin the next phase. Look for a lot of out of state investors to purchase these units for themselves. When you have a new project of this scale the entire area gets more notice. Will we see the New Trump Towers Condos added to the New Orleans Warehouse District skyline in the future?