WASHINGTON - The reigns of a national landmark in the heart of D.C. have been turned over to real estate mogul Donald Trump and his company, the Trump Organization.
After finalizing a lease with the federal government for the historic Old Post Office property on Pennsylvania Avenue downtown, Trump released the latest details and models surrounding the sizable project.
"It will be magnificent," he says. "There will be nothing like what we are building here."
Trump's company is pouring about $200 million into the redevelopment that will transform the post office building into a "super luxury hotel."
According to Trump, it will be among the finest in the world.
"In the end, cost is no object," he says.
District officials expect the plan to be a boon for the city, generating hundreds of jobs and tens of millions of dollars in tax revenue.
Trump International Hotel will boast 270 expansive rooms, which are sure to be some of the largest in D.C.
The hotel will include the largest luxury ballroom in the District and world class restaurants, according to documents released by Trump.
Construction is slated to begin next spring.
The project is expected to be completely wrapped up by the end of 2015.
"Friends of mine, they spend these ridiculous amounts of money on a painting. I would rather do jobs like this and do something really that everybody in D.C. can truly be proud of," he says.
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