The double meanings, now and then, are stunning.
Wikipedia says it best:
"The Watergate complex was developed by the Italian firm Societa Generale Immobiliare, which purchased the plot of land on the defunct Chesapeake and Ohio Canal in the early 1960s. The last lock, which diverted water from the Potomac River into the Tidal Basin at flood tide, was known as the "water gate." Italian architect Luigi Moretti designed the six buildings on the site: a hotel, two office buildings, three apartment buildings and a retail center."
Reuse, Reduce, Recycle.