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  #641  
Old Posted Sep 15, 2009, 5:40 PM
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It's all about financing and lots of patience. They "will" get built.
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  #642  
Old Posted Sep 15, 2009, 9:47 PM
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It's an open guess right now as to when the towers that haven't begun (2,3, and 5) would be completed. It all depends on Silverstein and financing. If Silverstein wins his arbitration with the Port Authority, he expects to get back enough to begin construction on his own. But this thing could drag on long enough for financing to become available again.

Silverstein won't be alive in 28 years dude, why on earth would it take that long?, there is NO good reason.
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  #643  
Old Posted Sep 15, 2009, 10:45 PM
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Silverstein won't be alive in 28 years dude, why on earth would it take that long?, there is NO good reason.
None of us is guaranteed to be alive in 28 years as far as that goes, and no it won't take that long.
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  #644  
Old Posted Sep 21, 2009, 7:37 PM
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Anyone who thinks it will take 28 years in insane. As soon as the memorial and transit hub is completed this will be some of the hottest realestate in the nation. The demand for large floorplates/trading floors etc in lower manhattan will not diminish. We will have gone through 1.5-2 more economic cycles, with the boom and glut that those bring...
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  #645  
Old Posted Sep 28, 2009, 4:23 PM
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Small tidbit...
http://therealdeal.com/newyork/articles/lord-norman-foster-buys-second-unit-at-912-fifth-avenue

Lord Norman Foster buys second unit at 912 Fifth Avenue

September 21, 2009
By Candace Taylor

Quote:
Foster, who designed the triangular-framed Hearst Tower at 300 West 57th Street, is working on 200 Greenwich Street, a 78-story office tower at the World Trade Center site, and Masdar City, a zero-waste, car-free five-square-mile city in Abu Dhabi.

But several of his firm's projects have recently faced roadblocks in the uncertain economy, including the now-defunct "Russia Tower" in Moscow, which was to have been the tallest building in Europe before plans were shelved.
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  #646  
Old Posted Sep 29, 2009, 2:13 AM
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Wait, I'm confused. How does that affect 2WTC?
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  #647  
Old Posted Sep 29, 2009, 11:39 PM
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Wait, I'm confused. How does that affect 2WTC?
It doesn't. Silverstein is still planning to start this tower before Tower 3.
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  #648  
Old Posted Oct 9, 2009, 5:31 PM
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Silverstein continues the battle in his quest for rebuilding dollars...
http://www.crainsnewyork.com/article/20091007/FREE/910079990/0/toc

Judge challenges Silverstein's $2.8B WTC airlines suit

By Hilary Potkewitz
October 7, 2009

Quote:
Developer Larry Silverstein may not be able to collect $2.8 billion in damages he was seeking from airlines and security companies he claims are partially responsible for the Sept. 11, 2001, terrorist destruction of the World Trade Center, according to the most recent ruling in the eight-year saga.

A judge for the U.S. Southern District ruled last week that $4.1 billion in insurance claims Mr. Silverstein's firm, World Trade Center Properties, has collected from various insurers may offset any damages he was seeking from the airlines.

The court earlier this year limited Mr. Silverstein's claim against the airlines and security companies to a maximum of $2.8 billion—a much smaller amount than the $12.8 billion he sought in the original suit, filed in 2004.

The aviation defendants argued that the insurance recovery World Trade Center Properties had already received—the $4.1 billion—should be used to offset Mr. Silverstein’s claims against the airlines and security firms.

Mr. Silverstein argued that the two claims are not related and should go to a jury trial. A WTCP spokesman noted this week that the firm is still allowed to sue for further “consequential” damages.


Each side declared victory in the latest ruling.

WTCP can pursue its quest for damages. Indeed, a representative for Mr. Silverstein said this week WTPC plans to continue with the lawsuit.
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  #649  
Old Posted Oct 9, 2009, 11:35 PM
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Yep... surprise surprise
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  #650  
Old Posted Oct 9, 2009, 11:45 PM
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If Silverstein is successful here, and with the upcoming arbitration with the Port Authority, he would have enough on hand to move forward with both towers 2 and 3. Let's hope he gets it.
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  #651  
Old Posted Oct 10, 2009, 1:48 AM
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if anyone can do it, that little old man can!
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  #652  
Old Posted Oct 13, 2009, 1:08 PM
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http://www.wnyc.org/news/articles/142492

More WTC Arbitration This Week

by Matthew Schuerman
October 12, 2009

Another round of arbitration begins this week in the fight over the World Trade Center site. This time, developer Larry Silverstein is arguing he's getting financially hurt by the Port Authority's delays.

Silverstein took the issue to binding arbitration this summer after he failed to convince the Port Authority and Governor David Paterson to guarantee the loans he needs to build office towers at ground zero.

Silverstein says delays on the publicly funded parts of the site, such as the PATH terminal, are making it harder for him to attract private financing for the buildings. And if he doesn't finish all three of his towers by the years 2013 and 2014, he'll be forced to forfeit them entirely under the terms of his lease with the Port Authority.

The hearings will take two to three weeks. The panel isn't expected to rule until November or December.
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  #653  
Old Posted Oct 16, 2009, 4:33 AM
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http://downtownexpress.com/de_338/bloombersays.html

Bloomberg says his powers are limited at the W.T.C.

By Josh Rogers
October 16, 2009


Mayor Bloomberg told Downtown Express last week that “things I am responsible for” at the World Trade Center are moving well, and added that officials have no choice but to offer a good deal to W.T.C. developer Larry Silverstein.

“Larry has everybody by the proverbials — he really does,” Bloomberg said. “He can stretch this out for many years, use all of his money and we can wind up with nothing. Nobody likes it, but that’s the truth.”

Bloomberg said the city had looked carefully at Silverstein’s lease and agreement with the Port Authority to see if there was a way to get the developer out, but “all of our lawyers say no.”

He was explaining why he was taking Silverstein’s side in the financial impasse with the Port now, after he backed the authority in 2006 during a similar dispute. The Port has missed many of the deadlines in the 2006 agreement with Silverstein, who is arguing his case in arbitration. The mayor also agrees with Silverstein’s assessment that the commercial office market will rebound soon, which is another reason he favors loan guarantees to the developer to avoid more construction delays at the W.T.C.


The mayor sat down Oct. 9 at his campaign headquarters for a wide-ranging, hour-long interview with Community Media L.L.C. newspapers — The Villager, Gay City News, Chelsea Now and the Express.

He said the W.T.C. is “politically one of the most convoluted situations” controlled by many including the Port as well as the New York and New Jersey governors, who appoint the authority’s board. Since Bloomberg took office almost four months after 9/11, there have been six governors in the two states.

“Every time a new governor comes in everything stops,” he said.

“The good news is the World Trade Center memorial, which is the only thing I have direct control over on the site, is on budget, on time,” he added.

Bloomberg has jurisdiction over the memorial as chairperson of the National September 11 Memorial & Museum, the private foundation that will own and operate it.

The Port and foundation are working to finish the memorial plaza in 2011 but part of it may have to close while work continues on the train station designed by Santiago Calatrava.

“The day after 9/11’s ten-year anniversary, there is a possibility we will take up part of the plaza that goes over the Calatrava building,” Bloomberg said. He said the number of commuters and subway riders in the station does not justify the 4 - $5 billion PATH and subway station.

Bill Thompson, the Democratic nominee running against Bloomberg, told Community Media the day before that the limited W.T.C. progress was the fault of the “failed leadership” of the mayor. He said the mayor “pops up occasionally” on the W.T.C. instead of being a constant presence in the decisions. Thompson, during an hour-long interview in Community Media’s offices, also repeated the widely held view that Bloomberg, in his first term, let former Gov. George Pataki take the lead Downtown while the mayor focused on getting a Jets/Olympics stadium for the Hudson Yards in Midtown.

Spokespersons for Silverstein and the Port Authority declined to comment on most of Bloomberg’s remarks, although a Port spokesperson said the train station will cost $3.2 billion. The original estimate was about $2 billion and others aside from the mayor have been skeptical of the Port’s current estimate.
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  #654  
Old Posted Oct 16, 2009, 8:07 PM
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Good for Bloomberg, the PA are idiots
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  #655  
Old Posted Oct 16, 2009, 9:03 PM
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It'd be even better if Bloomie put his money where his mouth is and fronted some cash for one of the towers.
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  #656  
Old Posted Oct 23, 2009, 4:00 PM
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http://www.nydailynews.com/real_estate/2...er_20m_needed_to_pay_for_wtc_plan_b.html

Ground Zero's escalating cost: Another $20M needed to pay for World Trade Center's 'Plan B'



BY Douglas Feiden
October 23rd 2009


Taxpayers will have to cough up another $20 million for Ground Zero because of the brutal battle raging between the Port Authority and developer Larry Silverstein.

The agency's board voted on Thursday to pay 14 different consultants to plan and design new blueprints for the World Trade Center site that would scrap two of the builder's iconic towers.

Known as "Plan B," the redesign was ordered two months ago by Gov. Paterson as a way to ensure that public projects on the 16-acre site would still rise if Silverstein withdraws or is booted from downtown.

The seemingly intractable mess between the developer and the PA over what gets built when and who pays for it is now being reviewed by an independent panel that is expected to act later this year.


"We are reassessing what we would need to do should Mr. Silverstein's projects not go forward," said PA Executive Director Chris Ward.

Hanging in the balance is the fate of the PATH Transportation Hub, the budget-busting mega-terminal that would be shoehorned between Silverstein's 79-story Tower 2 and 71-story Tower 3.

The Hub's power, ventilation and fuel tanks, vital for its operations, are to be housed in the lower floors of the two skyscrapers, which would also provide structural supports for its bird-like glass wings.

If the two towers are nixed, as has been discussed, the infrastructure would have to go elsewhere on the site. That could create new delays, drive up costs and potentially send the entire project back to the drawing board after eight years.

The $20 million contingency plan is designed to avoid that by crafting cost-effective solutions. The actual price of carrying out those changes, like redesigning Hub supports and rerouting utilities, is still unknown.

"I wouldn't want to characterize how much it will cost, but obviously, there will be costs to it," Ward said.

Silverstein executives declined to comment.
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  #657  
Old Posted Oct 23, 2009, 4:16 PM
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People still feel the need to blame Silverstein for this whole mess but it's increasingly apparent that the PA is the one at fault. They don't want his towers built, but they need his infrastructure for their incredibly expensive transit hub. So which is it, Mr. Ward? Oh, that's right sink another $20 million + into it, that'll solve everything.
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  #658  
Old Posted Oct 23, 2009, 9:47 PM
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The transit hub will be primarily for Path trains, there is no reason why something for the Path trains should be that lavish or expensive. I much rather have the two towers built and that Transit hub scrapped. Sure its nice to look at but, it's nothing original and way too expensive.
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  #659  
Old Posted Oct 23, 2009, 10:24 PM
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Originally Posted by meh_cd View Post
People still feel the need to blame Silverstein for this whole mess but it's increasingly apparent that the PA is the one at fault. They don't want his towers built, but they need his infrastructure for their incredibly expensive transit hub.
It's even more ridiculous when you consider that the PA doesn't feel there will be enough demand for the commercial space at the site (meaning the relatively small PATH ridership would be less).


http://www.globest.com/news/1523_1523/newyork/181801-1.html

Port to Develop Plan B for WTC

Quote:
The Port Authority of New York and Jersey’s board voted Thursday to allocate $20 million toward developing an alternate plan that would allow World Trade Center construction to go on without Silverstein Properties Inc. if necessary. The board’s action was in response to Gov. David Paterson’s order last August that the Port and its consultants come up with such a plan.

According to public documents, the revised design for the WTC Hub is being devised "in light of the continued uncertainty with respect to the schedule for the development of Towers 2, 3 and 4," the three Ground Zero towers planned by SPI. The plan would allow construction of the WTC’s public components to move forward while not impeding SPI’s ability to eventually commence work on its towers. Tower 4 is currently under way.
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  #660  
Old Posted Oct 24, 2009, 3:22 AM
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well bye bye other towers...
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