Posted May 18, 2012, 12:53 PM
|
 |
New Yorker for life
|
|
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,899
|
|
The retail is at least on track...
http://www.nypost.com/p/news/busines...ntent=Business
Westfield inks WTC retail deal
By STEVE CUOZZO
May 18, 2012
Quote:
After 11 years of grueling talks, a $93.9 million payment yesterday finally clinched a deal between the Port Authority and Westfield Group for control of the World Trade Center’s retail space. Global shopping mall developer Westfield wired the Port Authority a check, sources told The Post — the first installment of $612.5 million Westfield will pay the PA for a 50 percent, joint-venture stake in the site’s eventual 460,000 square feet of retail.
Although a tentative agreement was struck last year and the PA board approved it in February, like many other concrete-sounding “deals” at the WTC, it had no teeth — until now. “Remember, the PA board also approved Vornado’s office tower over the bus terminal years ago. Have you noticed an office building over the bus terminal?” an insider cracked.
Westfield will lend its skills in developing, leasing and operating an initial 365,000 square feet inside under-construction 4 WTC, the WTC Transportation Hub, above-ground along Church and Dey Streets and inside 3 WTC in the planning stage. It will also include 90,000 square feet more when 2 WTC is developed in the future.
|
__________________
NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
|