CITY, NJ - /AP/ - Trump Hotels & Casino Resorts Inc. Chairman
Donald Trump has a new plan for redeveloping the old Trump
World's Fair Casino site with a new hotel and casino keep
growing more ambitious.
wants to build a 62-story tower with 4,612 hotel rooms and
500,000 square feet of retail and entertainment space. The
proposed price tag: $1.5 billion.
twice the price of his 1999 plan for a 4,000-room hotel. According
to the 1999 timeline, construction on that structure was to
have begun by now.
proposal was one of six plans approved Thursday by the state
Casino Reinvestment Development Authority.
five projects are scheduled to begin construction this year.
Ground would not be broken on the Trump plan until at least
2007. The earliest opening day would be in 2009.
watchers are skeptical about Trump's ability to realize his
like an aggressive plan to me, given that they don't control
the necessary acreage and don't have access to that much financing,"
Bank of America analyst Andrew Susser told The Press of Atlantic
City for Friday's editions.
World's Fair building was demolished this spring. Trump owns
that 2.5-acre site, but would need more land to erect the
tower, which would be the second-largest hotel in the world,
trailing only the 5,034-room MGM Grand in Las Vegas.
also be the tallest building in Atlantic City, towering 11
stories over the Trump Taj Mahal.