Trump Name Off Ft. Lauderdale Condo Project

Residential News » Residential Real Estate Edition | By Kevin Brass | November 9, 2010 9:53 AM ET

Donald Trump says h

Trump Ft. Lauderdale

e is no longer involved with a controversial Florida tower development which bore his name.

The Trump International Hotel & Tower planned for Ft. Lauderdale, billed as a "signature Trump development," is in foreclosure. And more than 100 buyers are suing the developers and Trump, claiming the project promoters misrepresented Trump's role.

But Trump says he only licensed his name to the project and severed his ties long ago.

"We have nothing to do with the building. We had a licensing deal, and we terminated the licensing deal a long time ago," Trump told the Ft. Lauderdale Sun Sentinel.

The uncompleted 24-story tower was designed as a hotel-condo project, with units priced between $500,000 and $3 million. "Trump is committed to personal and direct involvement in everything his name represents," promotional literature claimed.

"To come and say now 'I only had a licensing agreement and wasn't the developer' is a fraud on the public," attorney Jo Altschul, who represents buyers, told the Sun Sentinel. "That's not what the developers said to potential purchasers to buy units at inflated prices because of Donald Trump being actively engaged in the development."

This is not the first time Trump's decision to license his name has gotten him in trouble. Failed developments in Tampa and Baja California also prompted a flurry of lawsuits.

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