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Trump Organization to begin Construction on Old Post Office Building Set to Begin Soon

by Prince Of Petworth June 1, 2014 at 10:05 pm 19 Comments

old_post_office_dc
12th and Pennsylvania Ave, NW

From a press release:

“The office of Congresswoman Eleanor Holmes Norton (D-DC) announced that in keeping with the agreement with the General Services Administration (GSA), the Trump Organization will have access to the Old Post Office (OPO) building beginning Saturday, May 31, and is expected to begin initial construction activities.

“The redevelopment of our Old Post Office building is on track, not only to tastefully transform the historic building into a unique hotel, but also to bring hundreds of jobs and millions in tax revenue to the District,” said Norton. “We have worked tirelessly for well more than a decade to get GSA to put the beautiful building to good use. The beginning of construction is the tangible reward for the city we have been working for.”

Norton said the lease is a win for the federal government, the District of Columbia and the Trump Organization. The deal requires a minimum base rent and a percentage of the revenue to go to the federal government. The District will receive $100 million in tax revenue over a 10-year period, and the project will yield 700 construction jobs and 300 permanent jobs.”

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