Thursday, June 13, 2013

Historic D.C. Post Office Becoming Trump Hotel

The new venture by Donald Trump will turn the historic Washington Post Office into a luxury hotel which will include restaurants, conference rooms and a spa. An agreement for the future of the property was struck between the Trump Organization and the General Services Administration. The 114-year old property's historic features remaining will be preserved throughout the process. The deal must be reviewed by Congress before completion. The agreement allows Trump to lease the property for 60 years, and he is expected to put some $200 million into the project. If Congress allows the agreement to pass, the redevelopment project is slated to begin in 2014 and open tentatively in 2016. Trump expects the project to create hundreds of jobs and generate millions of dollars in investments for the District. The GSA acting administrator said the lease will help in saving the federal government millions of dollars while preserving a historical site.

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