Trump: We're Making the Best Hotel in Washington

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Sept. 10 (Bloomberg) -- Bloomberg's Peter Cook sits down with Donald Trump to discuss his plans to turn an old post office into a luxury Washington DC hotel. (Source: Bloomberg)

Plan to renovate an old post office and turn it into a luxury hotel.

Our chief correspondent peter cook joins us now, is d.c. ready for the donald?

That is quite the question.

Mayor vince gray and other officials say they are thrilled to have donald here.

He has renovating an old landmark, and creating 300 new permanent jobs.

They're getting ready to renovate tc's old historic post office, one of its most iconic buildings.

They want to turn it into what is supposed to be one of my -- nicest hotels in the country.

It will host a presidential ballroom.

Taxpayers have a stake in trumps success.

He spoke today after the announcement.

I've always thought that the only post toss -- the old post office was special in two ways.

The building is beyond anything you could build today.

And it is only a few blocks from the white house.

It is something you could never build today.

In the end, we will have one of the great hotels of the world, it is an amazing building.

Is this the best hotel in washington?

There are a lot of nice ones.

This will be one of the best.

By the time we're finished, it will be one of the great hotels.

How expensive will this hotel be?

Willie have americans coming to visit the city?

I do not think so.

What are the manage of having this drawing -- this structure, and i have many, when you have a building like this, you have the foundations.

You have the exterior structure, you have so many different things that you can actually save.

You know what you're doing, because renovations can be more expensive if you do not know.

If you do know, you could really save something.

I think that is what we have right now.

I believe that we will certainly have a very big job, but we will try to make it as inexpensive as possible for people to stay in.

Any sort of room right at this point -- rate at this point?

Hard to say, because we're still at least two years out.

But it will be near the top of the city.

As many are welcoming your own rival but are scratching their head here.

They do not know he can make it work here, as this is not new york.

We have one of the strongest balance sheets in history.

And that is what will make it work, we can show the balance sheet, we can show the cash.

I think that the vision was the other side of it.

Whether works now or in two years, it will work and it will be great.

It will be a great project, no doubt about it.

You are investing real trump money, not just the trump name.

It is something that will be amazing when it is completed, yes.

In this case the federal government is your landlord.

I cannot be more impressed.

They are so dedicated, so profession are.

They really understand assets, and this asset.

I cannot be more impressed with the people.

As you have a neighbor down the street, president obama, sharing of the main avenue.

Is that something you look forward to?

I do look forward to it.

This is a location like no other.

You have the capital coming of the white house, and right in the middle you have a old post office which will be trump international hotel.

The location is good.

This is not about donald trump rating is profile d.c., this is about a hotel.

Quick i do not need a higher profile.

This is about taking a ill thing that incredible, and preserving it, and making it better than before.

Would you like president to be here for the opening?

I would love it.

We'll see if the president accept that invitation.

They expect completion lesion to be in late 2015.

This text has been automatically generated. It may not be 100% accurate.

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