NEW YORK CITY-With the hotel market in New York City witnessing a strong rebound, developers such as Gemini Real Estate Advisors have begun construction on hotel projects. Gemini has recently begun construction of a new hotel under its flagship brand, the Gem Hotel, located near Union Square as part of the hotel's expansion plans.
The new hotel, slated for completion by 2012, will comprise 113 rooms and stand 18 stories high. The company estimates that the project will cost $14 million. For the full story, go to Wall Street Journal.
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