While George Washington and Thomas Jefferson had worked as land surveyors before their respective presidencies, President-elect Donald Trump is the first real-estate developer ever elected. During his candidacy, he vowed to lower taxes and increase infrastructure spending but didn’t make any specific promises. This move has left industry experts to guess at the potential impact of his real estate knowledge.
Some, like Washington, D.C. Mayor Muriel E. Bowser (D), are hopeful that Trump’s promised infrastructure spending will reach DC’s bridges and Metro system. “There wasn’t a whole lot of substantive or policy messages in his statement last night but infrastructure was one of them and rebuilding American infrastructure is certainly important,” she said.
Others are skeptical that his plans will have anything to do with urban improvement when much of his support came from suburban and rural areas. “I don’t think you’re going to see additional funding for Metro,” said Raymond A. Ritchey, senior executive vice president at Boston Properties. “But if there is a dam to be built in Tennessee or a highway in Arizona or some sort of federal project in Wisconsin, I think you’ll see that get funded. It’s great for the economy in general.”