New York, NY—President Donald Trump’s newly proposed hotel at the ocean terraces condominium tower of the Trump International Hotel will be priced at $110 million, according to documents reviewed by Fox News.
The new $110-million Trump National Golf Club on the Manhattan waterfront will cost about $50 million, the documents said.
The building is part of Trump’s vision to turn Trump National Hotel & Tower in Palm Beach, Florida, into a “world class” luxury hotel with “a truly unparalleled value” that will attract “global, international and national elite.”
The hotel will be built on top of the property’s parking structure and will include about 5,000 rooms and suites.
It will be the third luxury hotel project in Trump’s Palm Beach-area development plan.
The first was Trump Tower in Manhattan.
Trump announced the plan for the new hotel at a press conference on July 1.
“The Trump National is one of the most historic properties in the world, and I am honored to be the first president to ever make it part of my legacy,” Trump said.
“We are truly at a pivotal moment in the history of our country.
The Trump National will have the potential to become the first of its kind in the United States.”
In his press conference, Trump said that the hotel will provide “the world with a truly exceptional luxury experience.”
“The design and construction of the new Trump National Resort & Spa will be designed by the world’s leading architects and engineers, including Michael Dyson, Michael Schumacher, and Richard Meier,” he said.
Trump said he is “very confident” that the new project will bring “global class luxury” to Palm Beach and its surrounding area.
“I know that the Trump National would be a great fit for our region, with its history and heritage,” Trump added.
Trump’s plans for the Trump golf resort have attracted criticism, including a petition launched by the National Park Service that said the development would “put a barrier between the public and the ocean.”