Donald Trump Plans Billion Dollar Condo Project in Florida

Former President Donald Trump’s proposal to rezone 56.4 acres of property at his Doral resort in Miami, Florida, to allow the building of high-end condos and retail was recently allowed to move forward by the city’s council.

Documents from the City of Doral Planning and Zoning Department’s meeting on August 14 show that Trump Endeavor 12, LLC, a subsidiary of the Trump Organization, is seeking approval for a zoning change to “downtown mixed use” to allow the construction of up to 1,498 residential units and 142,000 square feet of commercial space on the property.

A previous plan for the property sought to build 2,209 condos and 107,432 square feet of commercial space, as reported by the South Florida Business , but the proposal was then revised to reduce the number of residential units.

According to Bloomberg, the former president could spend as much as $3 billion on new condos in the resort. Preliminary designs from Doral-based design firm PPK Architects show five towers of 20-storeys tall. The website describes the project scope as 2,444 units to be built over 59 acres; the condos will rise over what are currently surface parking lots.

Newsweek contacted PPK Architects and the Trump Organization for comment by email on Wednesday morning.

Documents from the August 14 meeting show that Trump’s company estimates that the new residential units will have a population of 4,975 people. According to Yahoo! Finance, construction of the condos will be done in different phases, with roughly 300 condo units being built in each phase.

The Trump National Doral Miami resort covers more than 600 acres and features a hotel and four golf courses, including the “legendary” Blue Monster, a 7,590 yard course known by golfers as one of the toughest in the world because of its “challenging assortment of water hazards,” as the resort’s website describes it.

During a rally on July 9 at the Miami resort, Trump called the Blue Monster “one of the greatest tournament golf courses anywhere in the world.”

It’s the golf courses which are expected to attract residents to the new Trump’s condos. ​​Felix Lasarte, the project’s attorney, told the South Florida Business that “it’s really geared towards people who are golfing enthusiasts, overseas buyers who want golf course-type amenities.” He added: “You buy a unit and become a member of the country club in Doral, then you have virtually unlimited access to golf, tennis and pools.”

The price tag on the condos will start around $2 million, Lasarte said. Short-term rentals will not be allowed on the condos to avoid competing with the resort’s hotel. The commercial space will be used for high-end shops and restaurants near the new public plaza, the local attorney said.

Trump’s request for rezoning was approved on first reading at the August 14 meeting with a 3 to 2 vote. A final decision will be taken by the city council in September. If approved, sales could start next spring or next summer, according to Lasarte.

Trump’s decision to expand his golf empire isn’t surprising considering how successful his previous investments in the sector have been. In his latest financial disclosure, released last week, Trump Endeavor 12 LLC reported $160,854,751 in golf and hotel related revenue over the past 16 months. The former president made a total of $513 million over the same period from all his clubs and resorts, including the Doral, Westminster and Mar-a-Lago.