New Orleans Louisiana

The New Orleans Trump International Hotel and Tower has been suspended due also to the credit crunch. Developers however are optimistic that building work will restart later in the year. Described by Donald Trump as incredible, it was to be the tallest building in the city costing four hundred million dollars and included retail accommodation.

"The $400 million Trump International Hotel & Tower in New Orleans is on hold until the real estate markets recover from the recession, an attorney for the developers said."

"The project was proposed before Hurricane Katrina damaged much of New Orleans' housing stock. A city of renters before the August 2005 storm, it is regarded as lacking affordable housing."

"Patrick Egan, head of the commercial division for real estate company Latter & Blum, has questioned the feasibility of many still-proposed condo projects in the city given the state of the national economy."

Full Story: Property Wire