View Single Post
  #6  
Old Posted Jan 24, 2009, 12:39 PM
NYguy's Avatar
NYguy NYguy is offline
New Yorker for life
 
Join Date: Jul 2001
Location: Borough of Jersey
Posts: 51,692
Quote:
Now, while holding to the line that JPMorgan could still build, the Port Authority on Thursday opened up some $61 million in tax credits intended for the financial firm to anyone who will take them. The subsidy, $5 per square foot off the rent for 750,000 square feet of space, can go to any business that takes space anywhere at the World Trade Center site or at site 5.

“What this is doing is reallocating it site-wide,” said Chris Ward, the Port Authority’s executive director. “There had obviously been an earlier discussion with site 5 and its availability for JPMorgan Chase. While that transaction is currently in hiatus, we thought it was important to make clear that it would be available to any commercial tenant who wanted to come downtown.”
I think this is just the beginning of the end of JPMorgan's involvement with the site. But with the state of demolition on site, there hasn't really been a huge push to get this moving forward.

That $5 per sf discount can also go to Larry Silverstein's towers.
__________________
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.
Reply With Quote