President Donald Trump will "likely" name his massive ballroom after himself, a senior administration official told Katherine Faulders, ABC News' Washington managing editor covering politics.

According to the official, the staff is already calling it "The President Donald J. Trump Ballroom."

Faulders said that the staff believes that the name will likely "stick."

The ballroom has drawn criticism over the past week after Trump's promise not to touch the existing structure was thrown out and the entire East Wing was demolished.

Over the summer, Trump cited that the cost of the structure would likely be $200 million. That increased earlier this week to $250 million. On Wednesday, Trump quoted a $300 million price tag. As of Thursday afternoon, however, the cost has increased to $350 million.