This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Trump's New Luxury Hotel in Washington

NEW YORK ( TheStreet) -- Donald Trump explained at a press conference that I attended on Tuesday how he will turn Washington's historic Old Post Office Pavilion into a luxury hotel.

Trump plans to preserve the building's nine-story atrium and transform 3,500 square feet into meeting spaces and 39,000 square feet into ballroom space. The hotel will have 270 guest hotel rooms that average 600 square feet, with 16-foot ceilings, soaring windows, rich oak trim and crystal chandeliers.

Trump has a ground and building lease for the property. He is paying the U.S. government, which owns the property, $250,000 a month to lease it. Construction of the hotel is beginning now and is scheduled to end in 2015.

The cost for Trump's venture in Washington is estimated to be about $200 million. That excludes the long-term ground and building lease and the $100 million of tax revenue that Washington will collect over 10 years.

The project should create 700 construction positions and 300 permanent jobs.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $127.60 0.00%
FB $83.09 0.00%
GOOG $535.38 0.00%
TSLA $205.27 0.00%
YHOO $44.66 0.00%


DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs