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Old April 15th, 2007, 12:22 AM   #21
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Looks very kool.
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Old April 15th, 2007, 05:29 AM   #22
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Not happening.

Well, to give you the short story: a VERY reliable developer has taken over the project, but little is going on. They shuffle dirt around occasionally. Many are confident that Related will pull the project off, but I'm skeptical.

Honestly, I don't see it as much of a loss for the city... it isn't very inspired.
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Old April 17th, 2007, 02:35 AM   #23
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It's almost officially dead. Huge lawsuits have started against the developers based on the shoddy mismanagement of the project.
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Old April 17th, 2007, 02:36 AM   #24
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Lawsuits: Debt mounts for Trump Tower players
Tampa Bay Business Journal - April 13, 2007by Michael HinmanStaff Writer

Kathleen Cabble
Trump Tower Tampa was one of SimDag’s projects.
View Larger Companies that once staked a claim to develop the mired Trump Tower Tampa are facing new legal challenges over debt.

Three limited liability companies are facing a pair of lawsuits filed in Pinellas County claiming that more than $2 million in loans are in default.

R.W. Harris, a Clearwater-based specialty foundation subcontractor, has sued SID Clearwater Marina LLC and SimDag Towers LLC for $797,000 after the companies failed to repay four loans issued throughout the second half of 2006 by the end of the year, according to the civil complaint.

SID Clearwater Marina is the company responsible for developing Antigua Bay Yacht Club in Clearwater and is registered with Florida's Division of Corporations by SimDag Investments LLC. That company, in turn, lists Orlando-based Titanium Technologies Inc. as its managing member.

Frank Amodeo, principal with the Orlando-based private equity firm Mirabilis Ventures Inc., is director of Titanium, public records show.

Mirabilis Ventures reportedly took over both Trump Tower Tampa and Antigua Bay last November. But the relationship is unclear. Mirabilis has yet to finalize its agreement to assume control of those projects, SimDag spokesman Hooks said Tuesday. Mirabilis is being investigated by a federal grand jury about not turning over to the government taxes collected by the company from its clients.

Lenders demand repayment
"The lawsuit is based on four promissory notes that arise out of work performed" for the companies, said Brian Deeb of Deeb & Brainard in St. Petersburg, which is representing R.W. Harris. Deeb wouldn't elaborate whether the amount came from foundation work at a SID Clearwater Marina project.

"What's going to be tried here are the promissory notes. We're not trying what work was done," he said.

The lawsuit was filed April 2 in the Pinellas County Circuit Court, and the named defendants have 20 days to respond to the suit, Deeb said.

A second separate lawsuit filed March 30 has pit four individual investors -- Edmund Page and Janina Brandt of Pinellas County, and James and Judith Ann Hard of Sugar Grove, Ill. -- against SimDag Investments as well as SimDag CEO Frank Dagostino and former partner Jody Simon. That lawsuit is seeking the repayment of $1.01 million plus $250,000 in interest from two promissory notes issued in August 2004 and January 2005 that also was due Dec. 30.

Two listed phone numbers for SimDag were inoperable, and Dagostino could not be reached for comment through SimDag spokesman David Hooks.

Simon, whose partnership stake in SimDag was bought out last November, said Wednesday that he wasn't aware of the lawsuit. "I just assume that the SimDag guys back there are taking care of all of that," he said.

Problems piling up
SimDag's Web site lists six projects under development in both Florida and New Jersey including Antigua Bay, Bella Marguerite in St. Pete Beach and Trump Tower Tampa.

A pair of investors in Trump Tower sued the company earlier this year demanding their deposit back. The highly anticipated project has been stuck in both construction and financial issues that have left the Ashley Drive site idle.

The Related Group of Miami, which is building three other Trump projects in Florida, is reportedly still negotiating to take over that project. SimDag has, however, been working to reduce nearly $3.5 million in construction liens placed against the project, according to court records, paying out $1.02 million to Case Atlantic Co. in December and $700,000 to Turner Construction Co. last May. Case was the company responsible for Trump Tower Tampa's foundation, while Turner was at one time the general contractor for the project.

After those payments, SimDag still owes $966,000 to Case and $700,000 to Turner.

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Old April 18th, 2007, 04:25 PM   #25
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I dont like it...They should make it more of a glass looking building like the one in chicago
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Old January 28th, 2008, 08:43 AM   #26
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nice design
Be cool, humble, and smart!!!!
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Old December 28th, 2011, 03:36 PM   #27
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Status: canceled

please move to DN Archives subforum
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