Current plans call for the Trump family to develop the Old Post Office Pavilion into a luxury hotel.
A deal with Donald Trump's real estate company to revamp the Old Post Office Pavilion is moving forward.
A $200 million lease agreement on the D.C. landmark now heads to Congress for approval.
The plans call for the 114-year-old federal building, at the corner of 12th Street and Pennsylvania Avenue, to be converted into a mixed-use development that will include restaurants, a spa, conference space and a luxury hotel. The hotel is scheduled to open in 2016.
As part of the agreement, the Trump Hotel Collection will also pay a base monthly rent of $250,000.
The General Services Administration, says the deal will save taxpayers millions of dollars. The GSA plans to relocate the existing tenants in the Old Post Office building.