The 176,000-sf, four-story building, known as the Tariff Building, was built in the 1830s. The new hotel, which will be known as The Hotel Monaco, will have 184 rooms and is scheduled for completion in May 2002. The renovation includes renovating the rooms with high-end finishes, marble corridors and renovated spiral floating staircases. The project also involves the installation of extensive millwork.

"The biggest challenge in this project is preserving the building's historic fabric while adding modern life-safety mechanical and electrical systems," says Tompkins Builders vice president George Kreis.

This hotel renovation is separate from the one recently announced involving LaSalle Hotel Properties and the Kimpton hotel group, in which four other historic Washington, DC hotels will be completely renovated into four-star facilities.