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Originally Posted by NYguy
there is no special need to encourage office space development in LM because there really is nowhere to build it.
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Is there nowhere to build it because of how LM is mostly residential space now?
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Tower 2 is in the hands of Silverstein Properties, a company that has built and fully leased 3 WTC towers (and got the Freedom Tower to the point of construction). Companies that will lease space go through a rigorous process to determine where they will land. And more times than not, that will be somewhere in Midtown. And as I've said before, that won't change.
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At some point wouldn't Silverstein Properties have to change their strategy of seeking an anchor tenant before deciding to resume construction if it's repeatedly clear that the strategy of releasing a new re-design every few years or so isn't convincing many prospective tenants and not bringing the building any closer to resuming construction? Or is Silverstein Properties
absolutely locked into the strategy of seeking an anchor tenant before they can resume construction and that is the only approach they can pursue for trying to resume construction on this building?
Because unless they are still open to building on spec when doing so is less risky than now, from the looks of things, construction of this building could continue to be stalled for many more years if not a few more decades as others in this thread have suggested. To those not familiar with the process involved in securing an anchor tenant for high rise buildings in NYC, such a delay in fully completing construction on the wtc site would not reflect well on NYC nor the wtc site itself, although that doesn't seem to be enough of an incentive for developers to try and get this tower built sooner.