Javits Center expansion approved
Funding comes from hotel unit bond package
Gifts & Decorative Accessories -- Home Accents Today, 3/26/2009 6:25:00 AM
The Empire State Development Corp. board of directors has approved a $463 million expansion of the Jacob K. Javits Convention Center, home of the DMG world media-produced New York International Gift Fair and many other tradeshows.
According to Home Accents Today’s sister publication Tradeshow Week, the 100,000-sq.-ft. expansion will include 40,000 net square feet of exhibit space and will be funded with proceeds from Hotel Unit Fee-secure Revenue Bonds that were issued by the ESDC in 2005.
This expansion represents a scaled-back version of more ambitious plans to expand the convention center: a $1.4 billion plan was approved by the state legislature in 2004, only to be scuttled in 2007 after costs had grown to about $4 billion. In 2008, the Javits board objected to expenses incurred for the scaled-back plan and being asked to approve them after the fact.
Talkback
Related Content
Related Content
