Quote:
Originally Posted by mrnyc
lmdc shifted some $ to 5wtc last fall -- it's supposed to start later this year, but i can't find anything to confim that --
interesting the post-9/11 lmdc will finally dissolve after wtc 5 is done --
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Indeed and this article from September 2023 had said that this would be happening by March-April 2024:
https://therealdeal.com/new-york/202...-to-wind-down/
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But now, following an agreement to build 1,200 apartments at 5 World Trade Center, the LMDC is winding down. For real, this time.
The plan is for the state’s Empire State Development to absorb the agency by March, according to state officials. The LMDC needs to still technically exist because it is a conduit for federal grants for the Perelman Performing Arts Center, Pier 42 and other projects — even the restoration of a centuries-old wooden ship excavated just south of where the Twin Towers stood.
“For over two decades, LMDC has steadfastly led the rebuilding of the World Trade Center site, resulting in the dynamic community it is today,” a spokesperson for the governor said in a statement. The 5 WTC agreement “represents Governor Hochul’s commitment to ensure LMDC completes the original vision of what Ground Zero should become.”
Officials have long talked about shifting the agency’s responsibilities to the state. In 2011, Gov. Andrew Cuomo called for the consolidation of the LMDC and another Empire State Development subsidiary, the Moynihan Station Corporation.
The LMDC was launched in November 2001 by Gov. George Pataki and Mayor Rudy Giuliani to oversee the redevelopment of the World Trade Center and help coordinate city and state efforts. By one count, 19 public agencies were involved with that effort.
As with much about the massive redevelopment, the LMDC’s history is complicated, involving competing political interests across five gubernatorial administrations and four mayors.
“This entity was set up at a time of extraordinary crisis and distress,” said Alicia Glen, a former deputy mayor under Bill de Blasio who has served on the LMDC board for nine years. She said the agency’s role evolved from “reactionary crisis management,” to a planning agency to a mainly transactional entity.
While elected officials repeatedly called for its dissolution, the agency had powerful defenders, including the late Assembly speaker Sheldon Silver. His arrest in 2015 on corruption charges triggered new calls for the agency to close.
Disagreements between the LMDC and the Port Authority of New York and New Jersey delayed the progress of 5 World Trade Center. The former wanted to allow a mixed-use project, including residential, while the latter pushed for office use. The two agencies eventually agreed to let developers pitch either project type. (Residential won out.)
Beyond the legal need to have an entity that federal funds could pass through, the LMDC gave the city a seat at the table in determining the future of the World Trade Center sites.
“It was a place and a space where various stakeholders had to come together to make a deal,” Glen said. “I think that LMDC played an incredibly important role in maintaining continuity and just trying to be focused on the site being rebuilt.”
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However, the last time 5 WTC was mentioned in the news, it was here:
https://tribecacitizen.com/2024/03/2...-trade-center/
There was also this news in January 2024:
https://www.nydailynews.com/2024/01/...m-nyc-in-2024/
Quote:
Manhattan
5 World Trade Center (130 Liberty St.)
In July the state approved a plan to build 1,200 new apartments at the World Trade Center site, bringing to an end years of back-and-forth with the community. A third of the units will be affordable after vocal campaigning from locals who had pushed for full affordability.
It’s located on the site of the former Deutsche Bank building, which was heavily damaged during the 9/11 attacks. Some of the apartments will be earmarked for New Yorkers impacted by the attack.
Upon completion “5 WTC” will be one of the largest affordable housing developments in lower Manhattan and the only residential site at the World Trade Center, according to the state. The 900-foot tower is being developed by Brookfield Properties, Silverstein Properties, Omni NY and Dabar Development.
A state official confirmed construction is expected to start before the end of next year.
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No idea why it's taking so long, but there might be delays or wait times in getting construction finalized and starting materials ordered before LMDC winds down.
The LMDC had this agenda list of points for a March 11, 2024 meeting:
http://www.renewnyc.com/
http://www.renewnyc.com/Attachments/...d_3_08_24).pdf
Quote:
LOWER MANHATTAN DEVELOPMENT CORPORATION
MEETING OF THE BOARD OF DIRECTORS
9/11 Memorial Museum Auditorium
180 Greenwich Street
New York, New York
3/11/24 Board Meeting Agenda
PROPOSED – NOT YET ACTED UPON.
March 11, 2024 at 9:00AM
DRAFT AGENDA
I. Call to Order
II. Audit and Finance Committee Report (No material)
III. Administrative Authorization Requests
ACTION ITEMS:
A. Ratification of Action Taken to Amend and Extend the External Audit Services
Contract with EFPR Group, LLC through December 31, 2025
B. Ratification of Action Taken to Amend and Extend the Website Services Contract
with NGenious Solutions, Inc. through March 31, 2025
C. Request to Approve LMDC 2024/2025 Operating Budget
D. Request to Pre-Authorize Consultant Contract Zero-Dollar Time Extensions
IV. Action Plan Amendments
ACTION ITEM:
A. Request to Amend Partial Action Plan S-2 and the Final Action Plan
V. Adjournment
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I would expect at least some kind of update by the end of the year in December 2024, but knowing the history of the site, wouldn't be surprised if the groundbreaking or foundation work is approved and visible signs of construction are only apparent sometime in 2025.
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