The Milagro Gamma Ray Observatory is the worlds first large-area water Cherenkov detector capable of continuously monitoring the sky at TeV energies. Located in northern New Mexico, Milagro will perform an all sky survey of the Northern Hemisphere at energies between ~250 GeV and 50 TeV. With a high duty cycle, large detector area (~5000 square meters), and a wide field-of-view (~1 sr), Milagro is uniquely capable of searching for transient and DC sources of high-energy gamma-ray emission. Milagro has been operating since February, 1999. The current status of the Milagro Observatory and initial results will be discussed.