Donald Trump is moving to a big new project this week, with the President calling it “a tremendous opportunity” for him and his family to get their first piece of real estate into a building that’s been in development for years.
Trump’s new development, a 15-story hotel and condominium tower on the south bank of the Columbia River, is just one of many projects he’s planning to announce this week in an effort to cement his status as one of the most successful real estate investors in the world.
Trump is set to announce the site for the new project at the beginning of the month.
In the meantime, he’s in the middle of finalizing a deal with Zillow to put a record 20,000 Trump properties in a single, one-story building.
The company has given Trump 10 days to complete the project.
The Trump Organization said it had already signed a memorandum of understanding for the project, which is slated to open in 2021.
It’s the first project in Trump’s portfolio to be announced on the heels of a major announcement on Friday, which was that he’s buying the Cleveland Cavaliers for $2 billion.
It was the biggest deal for a professional sports franchise in the U.S. history.
It also marks a big win for Zillows, which announced in February that it was buying up to 400 properties.
That number includes other Trump properties, including the Plaza Hotel and Trump Plaza Tower, as well as properties in New York and Miami.
Trump had been in negotiations with Zellows for years, and it’s a deal that will be the first time in his long career that he and his children will own an office building.
But it’s also a huge step in his plan to transform his sprawling business empire.
He’s spent the last two decades trying to bring the business he owns into the 21st century, as he has tried to turn it into a media brand.
His new project is a huge part of that effort.
Zillower’s real estate analyst, Steve Marlow, told NBC News he expected that Trump’s announcement of the new hotel would generate a lot of excitement, particularly among younger people, who have grown up with his businesses.
But he also cautioned that the timing of Trump’s announcements could be “a bit of a mixed bag.”
Marlow said that even with the huge amount of new property in the project that is being announced this week that Trump and his siblings will own, “there’s no guarantee that there will be a lot in terms of the investment.”
Zillowers real estate business analyst, John F. Fortunato, agreed.
“I don’t see that as a very positive sign, especially as he’s saying ‘you’re going to be able to get your first piece,'” Fortunatello said.
“But we think that the excitement will come from the people who have been investing for years in this business and the people that were just excited to see the Trump name on a building they’re going into.”
Trump’s wife, Melania, will be attending the announcement.
In addition to the new tower, which will include two other residential towers on the site, the project will include a golf course and two hotels.
A Trump Organization spokesperson told NBC that the company “is pleased to announce that it has finalized an agreement to acquire the Cleveland Cleveland Cavaliers and announce plans to develop it in a new, 15-building hotel, condominium and retail development.”
The Trump family said it will spend $1 billion on the project over the next 20 years, including $500 million of its own money.
Trump announced his plans for the deal on Friday afternoon.
In a statement, he said, “This is a tremendous opportunity for the Trump Organization to bring a world-class hotel and golf course to the downtown Cleveland skyline and the nation’s capital.
We’re committed to being the best hotel and entertainment destination in the nation, and we look forward to continuing our efforts to make Cleveland a national, economic and cultural hub.”
The real estate developer has been busy for the last four years.
He was the first to get the Cleveland Browns to the NFL and now he’s trying to buy the Cleveland Cavs.
He also has his eye on the NBA, which has given him an exclusive negotiating rights deal with the Cleveland Warriors for 30 years.
In that deal, the Warriors have to pay him $1.5 billion a year for 30 seasons.
Trump said on Twitter that he would make the announcement in the “near future.”