Originally Posted by Enigmatism415
So even if Larry has the money to finish 3WTC without any tenants, the government will not allow him to do so? I don't understand why such an agreement was made.
The "deal" is that the Port Authority and the City will help Larry Silverstein with financing if he can lease the 400,000sf stipulated. Otherwise, Larry Silverstein will have to obtain financing the traditional way or the way most other office buildings are built - line up enough tenants or rent enough space to get it. The agreement with the PA is a little more generous. Nothing new or shocking about finding tenants before getting financing. Speculative office construction is very rare in Manhattan. The construction of the original complex was a huge
exception to the rule - and it took years to fill the space. The only reason we are getting as much built now is because of the integrated nature of the complex.