It was estimated that $1.7 billion was needed to redevelop the area around the Jacob K. Javits Convention Center in New York City. The chairman of the Empire State Development Corp, Patrick Foye has announced that the predicted amount of money needed is a lot less than the project will actually cost. The plan will take up about 1.3 square million feet and includes a hotel, multi-function, screening, loading and marshalling facility. The Development Corp. is currently still discussing the best possible solution with all its partners on the job. They are revising a new scoping document and will come up with one later on in the year.
Information found at
http://newyork.construction.com/news/newswatch/archive/2007/09.asp#1
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