Javits revamp could cost $4B

The Spitzer administration is considering a proposal to renovate and expand the Jacob K. Javits Convention Center that would cost $4 billion, or more than twice the cost of the Javits overhaul proposed under the Pataki administration. The new proposal would add 550,000 square feet of exhibit space and meeting rooms to the convention center. The $4 billion price tag would be among the highest prices ever paid for a convention center in the United States. “This would be one of the larger investments ever made in the convention and exhibition industry,” said Michael Hughes, associate publisher of Tradeshow Week, an industry magazine. “The issue for New York comes down to a return on investment. New York is the most underserved North American city in terms of exhibition space.” more [NYT]