NOLA.com: The Trump International Hotel & Tower, the excessively hyped 70-story, $400-million condominium project announced the day before Hurricane Katrina turned toward New Orleans, is officially dead.
The Poydras Street parcel where the Trump Tower was to be located was sold at a sheriff's foreclosure auction last Thursday to the operator of the surface parking lot at the site.
While there have been no signs of motion for several years on the project that would have created the tallest building in the city, and a mural of the project painted on a brick building abutting the site (above) has long since been removed, the Florida developers who worked with New York real estate magnate Donald Trump on the project remained silent about its fate, even as other swanky high-rise condo projects fell apart.
Stephen Dwyer, the local attorney for developer Poydras LLC, said that twin hurdles of the storm and the financial crisis were just too great to overcome. "The economy just did not justify going forward," Dwyer said. "The developer still hopes to bring the project online at some point. He has not given up on building a project in New Orleans."