Trump's Baja Project In Trouble

by Deidre Woollard (RSS feed)
Nov 14th 2008 at 6:02PM

For a couple of years, I've thought of Donald Trump's Trump Ocean Resort on the Baja Mexico coast as a sign that the northern part of the Baja peninsula was becoming a more upscale destination. It seems I may have spoken too soon. Now the three-tower destination resort many never even get off the ground. The San Diego Union-Tribune reports that the developers of the Trump Ocean Resort in Baja California have lost their financing for the project and it may be some time before a new lender can be found.

Those who bought into the project put 30 percent down on units that ranged in price from studios in the mid-$300,000s to $2.5 million for a penthouse may not be able to pull out their money. The towers were supposed to be ready for occupancy by the end of this year but those who bought in have now been told the completion date is slated for 2012. Angry buyers are considering filing a class-action lawsuit for breach of contract. The Trump Organization is a licensor of the project and not the developer but the Trump brand name was an assurance for those who invested their money in the potential development.

Gallery: Trump Projects

Tags: baja, donald trump, DonaldTrump, mexico

Filed under: Real Estate Developments

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Reader Comments (Page 1 of 1)

Mark Ippolito Jan 22nd 2009 7:13PM

If anyone knows of a class action suit forming against Trump/Irongate to collect deposits back on the Trump Baja project, please contact me. I am very interested in joining in suit. My email is mippolito10@hotmail.com. Thank, Mark

Igor Lukyan Jan 26th 2009 6:10PM

I am also intersted in a class action suit forming against Trump/Irongate to collect deposits back on the Trump Baja project, please contact me. I am very interested in joining in suit. My email is iggy129@aol.com. Thank Igor L.

Kriss Jan 30th 2009 6:13PM

I am also an owner/investor in the Spa tower in the Trump baja project. I would like to communicate with other owners regarding our options and/or lawsuits.

kriss@telus.net

David Cowgill Jan 31st 2009 5:59PM

Mark, Igor, Kriss-

There are 35+ owners that have joined together to file a lawsuit. Progress is coming along well and the more who join, the better.

Please contact our attorney listed below and tell him you wish to join the class action lawsuit.

Thanks,

David

Daniel J. King
Law Offices of Daniel J. King
The Trillium Building
6320 Canoga Avenue, Suite 675
Woodland Hills, California 91367
(818) 587-9299
Worldwide Fax Toll Free (866) 260-2160

kusum Feb 2nd 2009 1:11AM

I was sold 3 Trump condos by telling all the lies. I called many times and talked to Matias in the Baja office about the development and every time I was told it will be done in Jan, 2009. He never said that it hasn't even gotten off the ground. They called us for more money in June and we sent them more money. I am loosing over $500k. I want my money back.

Donald! Feb 10th 2009 2:05PM

Kasum (#5), join the lawsuit if you want your money back. There is no other option for you that I know of.
I have been in the group with attornies Daniel King and Bart Ring for about two months and believe they are doing an excellent job. There are now about 45 of us and we have strength in numbers. Input from each and every one of us is being used in developing the suit.
If you haven't already, join us by contacting the attornies listed above at reply #4. Welcome.