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Undergrads Attempt Real Estate Venture
LTI News
Lowell, MA, April 1, 1965- Several LTI undergrads have formed a venture to market properties located in Greece to Greek-American businessmen. Three members of the LTI Greek-American Club see an opportunity to fulfill a long-standing desire of Greek-American immigrants to own land in their homeland. The opportunity appears to be limited to Lowell, Boston and New York City, although, if successful, the students may seek to expand to the Chicago area.
The venture is called InAmerica on this side of the Atlantic, with an affiliate in Athens, Greece, called ‘STIN AMERIKI’ (Greek phonetic). Since the turn of the century, Greek immigrants have settled in eastern cities, eventually opening their own businesses. In many cases, the entrepreneurs all plan to earn their fortunes ‘in America’ (these businessmen all seem to pronounce it as one word), with the intent to return to Greece as rich Americans to live out their lives in luxury. In most cases, however, once assimilated into the American culture, they never fulfill the second half of their plan.
Land prices in Greece are dismissed as nominal in the minds of Greek-American entrepreneurs, and apparently, business is already booming. When asked, the students said they would all complete their education, no matter how successful the venture is.
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