Prospective buyers have reserved 100 percent of the available condominium units in Donald Trump's first planned Las Vegas development, a project representative said Wednesday.
Now, the trick will be to turn those who deposited either $10,000 or $20,000 for one of the 1,282 high-rise dwellings into actual buyers.
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Trump, the New York developer who has flirted with expanding his business operations to Las Vegas over the years, said a few months ago that interest in the $500 million, 64-story Trump International Hotel and Tower was so phenomenal that he planned to build a second identical tower on the site behind the New Frontier.
Trump, along with Frontier owner Phil Ruffin, announced plans for the nongaming facility last summer.
The tower will include 880 studio units and 352 one-bedroom condominiums on floors 16 through 59, and 50 suites of one, two, or three bedrooms on the top five floors. Prices range from $600,000 to $6 million.
The tower would place Trump's name in lights high above Las Vegas, within walking distance of the Strip and across from Fashion Show mall.
Jack Christie, vice president of sales and marketing for Trump International, said the development's sale representatives are taking names for a waiting list in case any of the reservations fall through.
"We're still developing a list of interested buyers," Christie said. "We have a number of stages to go through, and of course, turning these reservations into sales will be a priority."
Christie said Trump visited Las Vegas last week to attend the grand opening festivities for Wynn Las Vegas and get an update on the Trump International's progress.
He said building permits and other construction related matters need to be completed before a groundbreaking date, possibly this summer, is announced.
Christie said Trump International's $3 million, 8,100-square foot sales center on the Strip in front of the New Frontier should be open by mid-June.
The building will include models of a studio unit and a one-bedroom suite, a 10-foot replica of the building, audio-visual presentations, information kiosks and interactive computer monitors.
TRUMP GAMING TO EXIT BANKRUPTCY
NEW YORK -- Donald Trump's New Jersey-based casino business is expected to emerge from Chapter 11 bankruptcy protection on May 12, according to Scott Butera, the company's president and chief operating officer.
Trump Entertainment Resorts Holdings had been expected to emerge from bankruptcy on May 4.
The company will have a reduced debt load when it emerges from Chapter 11 protection for a second time.
It will also have significantly less interest expense and $1.25 billion of new 8.25 percent secured notes due 2015. Those bonds are not yet trading on a when-issued basis.
Formerly known as Trump Hotels & Casino Resorts, the Atlantic City, N.J.-based company was saddled with $1.8 billion in debt when it applied for Chapter 11 protection in November.
The company owns three gaming properties in Atlantic City: Trump Taj Mahal, Trump Plaza and Trump Marina. It also owns the Trump Indiana riverboat in Gary, Ind.
U.S. Bankruptcy Judge Judith Wizmur called the plan to give bondholders majority control of the company fair and feasible.
