Trump Towers Rio: Donald Trump is planning to build five soaring towers worth an estimated $2.6 billion in Rio de Janeiro's slums. This computer-generated image was created by the project's developers
Criticism: The project has been criticized for displacing hundreds of families from the area that the towers are slated to occupy
The buildings together will make up the largest office complex in Brazil, once complete, with pedestrian tunnels and bicycle paths included, according to the project's consortium of developers, which is headed by the Trump Organization.
Construction on the first two of the five planned towers will begin in the second half of next year, officials declared at a press conference in Rio on Tuesday. Those towers are expected to be finished ahead of the 2016 Olympic games, which Rio is hosting.
Trump's buildings together will make up the largest office complex in Brazil, once complete, with pedestrian tunnels and bicycle paths included
The timetable for construction of the other three towers will depend on the market, officials said.
The project's developers include Brazilian construction company Even, MRP International, hedge fund Salamanca and Caixa Economica Federal, Brazil's No 2 state-owned bank.
The project includes plans for multi-billion-dollar investments in infrastructure upgrades to the area's transportation system, as well as its lighting and natural gas piping.
But the 'makeover' has been criticized for displacing hundreds of families from the area that the towers are slated to occupy. More than 1,000 people are expected to be evicted from their homes as the project gets underway in the next couple years.
According to the Independent, 'Residents have reportedly returned from work to Morro da Providencia to find their homes marked with spray paint for demolition to allow a cable car to be built over the slum as part of the works.'
Trump Jr. rationalized the displacement of those families on Tuesday by saying that the 'positives' of the project will outweigh the 'negatives.'
'Conflict is one of those things that, when there's a vocal minority, obviously that becomes a big problem and you know, when Trump is involved, that becomes a great story,' Trump Jr. said during a press conference.
'What this will do for Rio is going to be so positive that any rational individual will realize this will totally outweigh any of those negatives,' he stated. 'It's an industrial area that no one wanted to touch for years and years and years – if problems come out of the woodwork, where were they for the last 20 years? Where are their dollars coming in to invest and try to reinvigorate the area?'
Real estate and media mogul Donald Trump joined the press conference on Trump Towers Rio via video feed.
The Mayor of Rio de Janeiro, Eduardo Paes (left) shakes hands with Donald Trump Jr (right) during a press conference announcing plans for the Trump Towers Rio
Donald Trump Jr. said opposition to the project can be overcome. 'Conflict is one of those things that, when there's a vocal minority, obviously that becomes a big problem and you know, when Trump is involved, that becomes a great story,'
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