Trump proposes a 45-story waterfront condo in Philly. The Donald said on Monday that he would build a 45-story luxury condominium high-rise along the Delaware waterfront called Trump Tower Philadelphia. It would consist of at least 250 units on Penn Street near the end of Spring Garden Street. Construction would begin this summer and would be completed in mid-2008. Here is the Philadelphia Inquirer story:

http://www.philly.com/mld/inquirer/news/nation/13695425.htm?source=rss&channel=inquirer_nation

This follows on the heels of news that Trump wants to build a casino in Philly's Nicetown section. Trump is a 1968 graduate of Wharton School who says of Philadelphia:

"I went to school here. It's a great city. I know it well."

Some people think that the interest of Trump and other world-class developers in building condos and casinos in Philadelphia shows how far the city has come. It could be a good sign for the city's future, but Philly residents shouldn't jump for joy just yet. One real estate developer who is quoted in the article questions how that particular neighborhood will be able to change to accomodate the Trump Tower and its residents. I would say this goes trebly for the Nicetown section, the crime-ridden North Philly neighborhood in which Trump hopes to build his casino. In a previous post, I questioned what Trump was thinking by choosing that area. I recently had a conversation with an elderly gentleman who said that poor neighborhoods are actually the ideal places to build casinos -- because poor people are the ones most likely to gamble, and wealthy people are far less likely. Most of us are familiar with a stereotype of rich playboys who gamble the night away in riverside palaces. Such people may exist, but they are rare, and they aren't likely to be drawn to Philadelphia if casinos are built here. Poor and lower-middle-class people are more likely to gamble in hopes that they can score a windfall. Besides, the old-timer said, wealthy people are likely to protest the building of a casino in their neighborhood, because they don't want "that kind of riffraff" coming into their area. By contrast, Nicetown residents may think Trump is doing them a favor by building a big high-profile casino in their troubled area.

But I think casinos will do more harm than good to Philadelphia, and maybe even Pennsylvania in general. I realize that "Fast Eddie" Rendell is salivating over the potential state tax revenues that casinos may generate, and that others think casinos will provide good job opportunities in areas like Nicetown or Fishtown. But gambling is an addiction, and I have troubling visions of already-impoverished Philadelphia families being impoverished further by the gambling bug. I'm not so sure that the city's future is looking as bright as some people think.