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Article: GOP convention seen as boost to city's ego: but few real estate officials are anticipating major impact to industry.(the 2004 Republican convention will most likely take place in New York)
- Article from:
- Real Estate Weekly
- Article date:
- January 15, 2003
- Author:
CopyrightCOPYRIGHT 2003 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With the 2004 Republican convention all but set to take place in New York, the city's government is anticipating a hearty increase in business. According to Mayor Michael R. Bloomberg's office, the convention will bring more than $150 million in new business and 50,000 visitors to New York.
But according to those in the real estate industry, the event won't have much bearing on the city's long-term economic health, even if it will be a nice boost to the ego.
"It could be very good for New York's psychology, but the economic side of it is not great," noted Kenneth Patton, dean of New York University's Real Estate Institute. "I remember that when the city ...