Posted on 05/20/2009 2:45:59 PM PDT by george76
The most serious impasse in years between the owner of ground zero and the developer building office towers on half of the site is headed for government intervention.
Larry Silverstein and the Port Authority of New York and New Jersey started talks about seven months ago to rewrite Silverstein's lease to build three of five office towers to replace the destroyed World Trade Center.
Silverstein, unable to find private financing for all the towers in a poor real estate market, wants the port to back at least two of them.
Top politicians from two states are meeting Thursday at Mayor Michael Bloomberg's mansion to try to pressure both sides into an agreement and avoid yet more delays in the site's tortuous rebuilding history.
The departure of commercial tenants in downtown Manhattan -- at a time when 10 million square feet of office space is planned at the site -- is the key to any question about timing and financing at the site
On Tuesday several civic groups wrote Bloomberg and the governors of New York and New Jersey, saying the agency would be better off using its money on transit in the region than on a "speculative office building on the World Trade Center site."
Bloomberg last week suggested that the agency would have difficulty negotiating with Silverstein, who "doesn't have any skin in the game" because the towers are backed with bonds and Sept. 11 insurance money.
"We'll have a few ideas to throw out -- nothing magical about our ideas -- but anything we can do to get them going," the mayor said. "It's in the interest of this city and this country to get development going at the World Trade Center site."
(Excerpt) Read more at nypost.com ...
yeah, wouldn’t want the guys who develop buildings to rebuild. that would be too much like capitalism. there should be risk, but the city has consistently made silly demands. this is such a mess.
Are try going to put in a sprinkler system this time?
Since when is a legitimate insurance settlement for catastrophic loss not “skin in the game?” Bloomberg is an asshole.
Entire continents have formed faster than this building being built.
It is a national embarrassment.
All of this should have been settled 5 years ago. I no longer support ANY type of building other than leaving two holes in the ground and a plague.
Perhaps this not being built is a good thing. I would prefer to keep the site without buildings, and make those spotlights they light up to replace the towers permanent. Make a nice green space, a memorial wall with the names of the people who died that day. PLaces to sit and reflect.
It’s not like NYC needs more real estate that will be left largely unoccupied.
Recall the original tower design and the troll that designed it, ugly as a mud fence and imposable, literally, to build, it has not gotten better, Bloomberg is one of the worst offenders...pompous windbag.
Totally agree with you.
What good is that going to do if the towers are hit again? Wash the blood & debris off from the victims?
Amen to that.
Why would they need that, it's not as if fire could melt steel. /s
I’m certain that the sons of bitches who planned and executed the destruction of the World Trade Center might only have wished that their cowardly actions would eventually reveal a sickness at the heart of the nation at which they struck. We ought not oblige them. The site ought to be made a tax-free development zone with space reserved for a prayer site, garden and chapel. I’m not holding my breath.
A samll sttayou...

One on top of each tower ought to do it. Yeah. That's the ticket.
I have always thought that the WTC replacement(s) should have First Strike capabilities.
bttt
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