00:02It was announced back in February by the US President Donald Trump's second son, Eric
00:07Trump, an executive of the Trump Organization, that the Trump Tower would be coming to the
00:12Gold Coast.
00:13A 91-story, six-star luxury tower at that.
00:17But today's news, that won't be going ahead.
00:20Now, the deal would have been developed by Queensland development company Altus Property
00:26Group with David Young heading up the project.
00:28He said he was the one that initially pitched the project, but has told the ABC today that
00:33the Trump brand has become increasingly toxic in Australia and that they would no longer
00:39be going ahead with the project with Trump branding.
00:42Now, he said he's still hopeful that a tower will be built on the site at Surfers Paradise.
00:48Gold Coast City Council, the area that looks after this particular site and region, says
00:54that they've never seen a development application come through for this particular site.
00:58There is existing council approval for an 89-story tower on the site.
01:03Now, that site's owned by a consortium known as 3 Trickett Street and continues to remain
01:08in those hands.
01:09It's been vacant for more than a decade with many projects being pitched for the site that
01:14haven't been able to eventuate.
01:16And that's something that we'll ask more questions about today as the day goes on.
01:20But for now, a Trump Tower isn't going to be built on the Gold Coast.
01:24Next...
01:24To be honest...
