Archives for June 2008

Hotel Planned for PIE Airport

American Hotel Development Partners, LLC and the St. Petersburg-Clearwater International Airport announced plans to develop a $13.2 million, 106-room Staybridge Suites Hotel at the airport. Construction is set to begin in August of this year and expected to open late 2009. The airport is currently undergoing a $10 million renovation and has recently been awarded a $1.5 million grant from the FAA for safety, security, and the airport’s terminal renovation projects.

Trump Tower Developer Files For Chapter 11

On Tuesday, SimDag filed for Chapter 11 bankruptcy protection in Tampa. 3 years ago York tycoon kicked off sales for his namesake, a 52-story luxury condominium tower at 111 S Ashley Drive in Tampa.SimDag would build the 190 units by licensing Trump’s name. But as SimDag failed to get a $200-million loan, the condo market took a nosedive. Buyers of units began dropping out. Last year Trump sued SimDag for unpaid licensing fees.
The bankruptcy filing lists $10- to $50-million in liabilities, many to condo buyers who gave SimDag deposits ranging up to $1.6-million. SimDag estimated its number of creditors exceeded 200. A more detailed list of creditors, including Trump, banks, and contractors, will be realeased shortly.