Mr Hilton said the name Sundance had been the name of the beachfront site he first planned to develop in 1978.
The new Psaros development is less than 1km away from his property. Mr Hilton said he told a Psaros spokeswoman about his concerns in March after seeing an advertisement for the multi-storey apartment development.
�I told her how long we�ve used that name and she said Psaros had spent a lot of money and time researching and coming up with the name Sundance,� he said.
�Whoever they�ve enlisted to do that job obviously hadn�t really looked into it very well because Sundance is very well known; it has been there for years and we�re right on the beachfront.�
A spokesman from Psaros said Sundance was a widely used name. �There is no ownership attached to the name, nor is any one person entitled to dictate how it may be used,� he said.
He added the name fits with the ethos of the project and the vibrant lifestyle of the area.
�We�re happy to speak with anyone about any aspect of the project, because we really feel that Sundance is a sign of the exciting future in store for Scarborough,� he said.
Mr Hilton said the name held particular sentimental value for his family.
�It was built in 1978 and was actually the first lot of units in Scarborough on the beachfront,� he said.
�My father�s business partner was the developer of the building so the name means a lot; we�ve always called it Sundance.�
Mr Hilton said the 14 owners of the original strata group had plans to redevelop.
�In 2016 we hoped to formalise an agreement to develop the site as Sundance so they are annoyed about the Psaros development and some strata owners said we should consider legal advice,� he said.
Mr Hilton said he was disappointed about Psaros using a name that was already established within the community.