Gem Tower to Begin Construction

The 34-story International Gem Tower will begin construction
on 47th Street this year, the Extell Development Company announced Jan. 5.

Above-grade steel structure and curtain wall construction
will begin in the first quarter of 2011, with 500 laborers on site daily, says
David Rothstein, Extell’s executive vice president of construction.

To date, 20 percent of the steel is already in place below
grade. Unit turnovers are expected to begin in the summer of 2012.