From the Jersey Journal:
Trump takes over golf, housing plan for Meadowlands
Real estate developer and casino boss Donald Trump said yesterday he has inked a deal to rescue the troubled EnCap development project in the Meadowlands.
Trump will now hire a master developer, but he said he already envisions a world-class golf course designed by golf course architect Tom Fazio – akin to the Trump National Golf Club in Bedminster – as well as residential housing, open space and perhaps a hotel.
“I look forward to working on the development,” Trump said yesterday, hours after signing the agreement. “When completed, it will be one of the finest of its kind anywhere in the world.”
The deal is a major step forward for a project long stalled amid financial difficulties. Developers had hoped to replace dumps in the Meadowlands with two golf courses and luxury housing. But it quickly became mired in debt. The New Jersey Meadowlands Commission declared Encap in default in May.
The project’s 785-acre footprint includes portions of Kearny, Rutherford, Lyndhurst and North Arlington – and called for two golf course and 2,000 residences. One of the golf courses in the plan would have been in Kearny.
But Trump said he will scrap those plans and start fresh.
You gotta love this guy’s hyperbole….“When completed, it will be one of the finest of its kind anywhere in the world.”
I say if he can pull it off, more power to him…of course, we’ll have to see his name is giant gold block letters from 10 miles away.
Lincoln #300 Put in country & banks then check out their rates.Then same with thier central bank to see what their position is finally read all you can about how their economic out look .This was my method .I don’t know of any place to view them all to compare.
Many finacial guys on this site ,maybe they can tell you a better way.I like to do my own homework & then post to see if anyone has another take.Leaning toward Aussie bank but will keep open mind maybe something better out there.
Good luck, let me know if you find better return in a stable country.
From the NY Times:
Trump Steps In as Partner for Troubled Meadowlands Project
The developer Donald J. Trump pledged yesterday to rescue the troubled EnCap golf and housing development in the New Jersey Meadowlands, saying he would come up with a new design, a world-class golf course and more upscale housing.
Mr. Trump said in an interview that he had signed a deal to become a 50-50 partner with the current builder, Cherokee Investment Partners, in developing 785 acres covering four garbage dumps stretching across Lynhurst and Rutherford, N.J. The developer said he had already started interviewing five firms to find a new master planner for the project.
“This has the potential to be one of the great jobs anywhere in the world,” Mr. Trump said about 30 minutes after he signed the deal. “We’re going to make it that.”
But Mr. Trump’s sudden involvement caught many politicians and public officials by surprise and did little to mollify environmentalists, politicians and other critics who have described the project as a dangerous boondoggle.
“We don’t have any information concerning Mr. Trump, nor has anyone at this agency been approached by Mr. Trump,” said Christopher Gale, a spokesman for the Meadowlands Commission.
Cherokee may have approached Mr. Trump because of his success in developing the Trump National Golf Club in Bedminster and because he may attract new capital. Mr. Trump enjoys riding to the rescue as he did in the 1980s, when he rebuilt the Wollman Rink in Central Park after city officials had bungled the job for years.
“This is a large-scale Wollman’s skating rink,” Mr. Trump said, adding that he would like to build even more housing units than EnCap had envisioned.