More Economic Bad News For Tampa

The New York Times has a chart showing Tampa is the tenth leading city in delinquent loans. In 2007, I wrote about downtown Tampa condominium construction going bust. Tampa Condo 2 LLC filed for bankruptcy. The company had three condo projects in Clearwater and downtown Tampa. The Towers of Channelside LLC defaulted on a $105.8 million loan. Another Condominium company, Key Developers Group LLC was building the Place at Channelside. KDG filed for Chapter 11 protection.

Key Developers had been hit with a number of lawsuits in recent months, mostly from those committed to buy in the complex. As of last November, nearly 100 suits had been filed against the company for a range of actions including rescission demands and breach of contract.

The future of Trump Tampa Tower is uncertain. A bad sign is the official web site no longer in English. Donald Trump has repeatedly demanded his name be removed from the project.

So much for Mayor Pam Iorio's legacy of moving people to downtown Tampa.