NEW YORK CITY-With the hotel market in New York City witnessinga strong rebound, developers such as Gemini Real Estate Advisorshave begun construction on hotel projects. Gemini has recentlybegun construction of a new hotel under its flagship brand, the GemHotel, located near Union Square as part of the hotel's expansionplans.
The new hotel, slated for completion by 2012, will comprise 113rooms and stand 18 stories high. The company estimates that theproject will cost $14 million. For the full story, go toWall Street Journal.
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