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  #261  
Old Posted May 13, 2008, 10:00 PM
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Originally Posted by 2-TOWERS View Post
what a job it will be to remove the ramp as they start work with the footprints...also will the path station and path tracks be any different once they start work in that area, such as the top covering on the tracks and station etc..
The track location won't change, they run accross the footprint of the south tower and underneath the Freedom Tower. Also, the PATH tracks will actually be located beneath the memorial, and not underneath Calatrava's above ground terminal entrance.
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  #262  
Old Posted May 14, 2008, 8:42 PM
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Originally Posted by StatenIslander237 View Post
Tower 4 isn't a supertall (it's only a mere 947 ft. tall), and it may very well not have a thread.

Tower 2 is much less along than Towers 1, 3 and 4. It will probably be the last one to top out. It's really not under construction yet.
So where are towers 5 and 6? Or should I say buildings 5 and 6? Sorry, I didn't follow the WTC reconstruction thing enough.
     
     
  #263  
Old Posted May 15, 2008, 7:26 AM
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So where are towers 5 and 6? Or should I say buildings 5 and 6? Sorry, I didn't follow the WTC reconstruction thing enough.
Tower 5 is the site of the JP Morgan proposal. There is no tower 6.
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  #264  
Old Posted May 16, 2008, 12:23 PM
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http://nysun.com/news/new-york/port-...lverstein-fees

Port Authority Is Negotiating To Avoid Paying Silverstein Fees

By PETER KIEFER
May 16, 2008

In order to avoid paying millions of dollars in late fees, the Port Authority of New York and New Jersey is seeking to adjust part of the layout of a building planned for ground zero to accommodate developer Larry Silverstein, sources said.

It is unlikely the Port Authority will be able to meet the June 30 deadline to turn over a building site at ground zero to Silverstein Properties, which controls a lease on the property. When a development deal was signed in September 2006, the Port Authority agreed to pay the developer a late fee of $300,000 a day until it could hand over cleared building sites.

In February, six weeks after a similar deadline, the Port Authority owed Silverstein Properties about $14 million in late fees because it failed to prepare another building site by the agreed-upon deadline. Now, the Port Authority is said to be negotiating with Silverstein Properties to waive the late fees in exchange for several possible concessions, including altering the floor plates of the future office building known as Tower 3. Enlarging the floor plates would make the office space more amenable to major financial service companies, which need open space to accommodate trading floors. Mr. Silverstein is said to be attempting to lure Merrill Lynch to be an anchor tenant in one of its towers.

One possible use that is being negotiated, according to a source with knowledge of the talks, is an expanded or even multilevel trading floor — an idea that had been floated by Mr. Silverstein in the past. It would be in keeping with his stated goal of turning the World Trade Center site into a new financial center that would rival Midtown.


In March, Mr. Silverstein laid out a detailed construction schedule that stretches across the next four years. Silverstein Properties would build towers 2, 3, and 4, with all three expected to reach street level along Church Street within a year. By the middle of 2010, towers 3 and 4 would reach their maximum heights, with Tower 2 following in 2011, according to the plan. The three skyscrapers would offer a total of 7.6 million square feet of office space. Last month, construction commenced on towers 3 and 4 at the World Trade Center site after years of delays.

If the Port Authority did incur new late fees, it would add to the increasing number of financial penalties tied to delays in rebuilding ground zero. The state is attempting to renegotiate a deal with Goldman Sachs, which could be refunded up to $321 million from the city and state for construction delays at the former World Trade Center site. Mayor Bloomberg said the city would avoid paying its share of the penalties for development delays at the site, but he left open the possibility that the state could owe Goldman Sachs tens of millions of dollars.

“We are working to meet the deadline,” a spokeswoman for the Port Authority, Candace McAdams, said yesterday.

A spokesman for Silverstein Properties, Bud Perrone, declined to comment.

Port Authority officials have indicated they are interested in taking control of the troubled Moynihan Station project in Midtown, and Governor Paterson and Senator Schumer have encouraged the bistate agency to do so. Mr. Bloomberg has said the Port Authority’s delays in rebuilding at ground zero are proof that it should not take on another large construction project.
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  #265  
Old Posted May 17, 2008, 4:19 AM
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wtc 3 looks alot like john hanckock center
but its a very nice super tall for ny it
blends in with wtc
     
     
  #266  
Old Posted May 22, 2008, 4:53 PM
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http://www.globest.com/news/1163_116.../170992-1.html

Merrill Lynch In Renewed Talks for WTC Base

By Natalie Dolce
May 22, 2008

Merrill Lynch & Co. in renewed talks to move its headquarters to a planned skyscraper at the World Trade Center site, a Silverstein source has confirmed to GlobeSt.com, although they could not discuss further information. The securities firm had considered moving its headquarters last year to Midtown Manhattan on the footprint of Vornado Realty's Pennsylvania Hotel, as GlobeSt.com previously reported. However, at the time, sources told GlobeSt.com that "anything can happen," and they were right.

As GlobeSt.com previously reported, utilizing the many financial incentives available to the company if they choose to locate in the World Trade Center site or another site Downtown--including a Pilot deal that reduces real estate taxes, low cost power, and waiver of sales tax on the building, and the entire tenant fit-out--will save Merrill Lynch $600 million.

The financial firm's lease in its downtown Manhattan office will expire in 2013 and although preliminary, according to an unidentified source, Merrill is said to be considering one of three buildings being developed by Larry Silverstein, which the source says is Tower 3. Also known as 175 Greenwich St. and designed by Richard Rogers Partnership, it will be located at the center of the buildings around the WTC Memorial site. The building is around 2.5 million sf, a source tells GlobeSt.com.

The Port Authority of New York and New Jersey, the agency that owns the site, is expected to discuss the matter at 1:30 p.m. on Thursday as far as whether or not to award Silverstein with a six-month extension on the deadline to complete the tower, the unidentified source tells GlobeSt.com. Port Authority would not return GlobeSt.com queries by deadline. Merrill Lynch tells GlobeSt.com that they have no comment at this time.

Another unidentified source, tells GlobeSt.com that as was reported when Silverstein and the Port Authority concluded their lease renegotiation in 2006, "Silverstein forfeits the towers he is building on the site if he misses his deadlines for completion. The extension gives Silverstein the time he needs to compete for a very large tenant without sacrificing six months of cushion on his deadline."
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  #267  
Old Posted May 22, 2008, 4:58 PM
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http://www.reuters.com/article/domes...17096020080522

Merrill restarts talks to move to WTC site: WSJ

Thu May 22, 2008

Merrill Lynch & Co has restarted talks to move its headquarters to a planned skyscraper at the World Trade Center site, the Wall Street Journal said on Thursday, citing people familiar with the matter.

The securities firm, whose lease in its downtown Manhattan office will expire in 2013, had considered moving its headquarters last year, and has had discussions about the World Trade Center, the newspaper said.

Senior executives at Merrill have discussed the site possibility and have given the green light to its corporate real-estate team to explore a move, the newspaper said.

The board of the Port Authority of New York and New Jersey, the agency that owns the site, is expected to discuss the matter Thursday and could vote to authorize
a pause in the construction process to allow Merrill's design needs to be accommodated,
the newspaper said.

Merrill is said to be considering one of three buildings being developed by Larry Silverstein, the developer who purchased the Twin Towers six weeks before the September 11 attacks. He also holds rights to several nearby sites, while the Port Authority also holds rights to the planned Freedom Tower.

Merrill, Silverstein and the Port Authority could not be immediately reached for comment.

In June, JPMorgan Chase & Co agreed to build a 1.3 million square foot skyscraper, with at least six trading floors, near Ground Zero, and relocate its investment banking headquarters from midtown Manhattan.

JPMorgan and Goldman Sachs Group Inc, which is building its headquarters in Battery Park City, received tax breaks.

Merrill's proposed building, known as Tower 3, would have 71 stories and include 2.5 million square feet of office space, the newspaper said.

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Merrill Restarts Talks to Move
Base to World Trade Center Site


The building Merrill is considering is one of three being developed by Larry Silverstein, the New York developer who purchased the Twin Towers six weeks before the terrorist attacks. The Port Authority board will decide whether to give him a six-month extension on his deadline to complete the tower, currently February 2013. If Mr. Silverstein doesn't finish by the deadline, he must forfeit his interest in all three buildings.

The extension would give Mr. Silverstein time to redesign the tower's foundation to make possible large trading floors and custom mechanical systems. Construction crews began preparing the foundation for the tower in February.
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  #268  
Old Posted May 22, 2008, 5:02 PM
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Originally Posted by NYguy View Post
Tower 5 is the site of the JP Morgan proposal. There is no tower 6.
But there should be.
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  #269  
Old Posted May 22, 2008, 5:11 PM
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The extension would give Mr. Silverstein time to redesign the tower's foundation to make possible large trading floors and custom mechanical systems. Construction crews began preparing the foundation for the tower in February.
There may be a pause in construction, at least for this tower...


http://cityroom.blogs.nytimes.com/20...or-to-merrill/

Port Authority Deal May Open Trade Center Door to Merrill

By David W. Dunlap
May 22, 2008


The Port Authority board met privately this morning to consider a deal that would allow Larry A. Silverstein, the developer of three of the future World Trade Center towers, to negotiate with Merrill Lynch as the tenant of the central building at the site. As it stands, under his agreement with the authority, Mr. Silverstein must complete the central building, known as Tower 3, by Dec. 31, 2011.

That deadline is not likely to give him the flexibility he needs to revise the building plans to suit Merrill’s tenancy.

While Mr. Silverstein has made no secret of his hope to lure Merrill across West Street from the World Financial Center at Battery Park City, the company’s interest had been harder to gauge. An article this morning in The Wall Street Journal said that the company was in “renewed talks” to move its headquarters to the World Trade Center.

To accommodate Mr. Silverstein’s talks with Merrill, the Port Authority of New York and New Jersey, which owns the trade center site, would extend the Tower 3 development deadline to June 2012 and the adjacent Tower 4 deadline to the spring of 2012. (The authority’s future headquarters will be in Tower 4.)

A measure of the seriousness of the negotiations was that both the authority chairman, Anthony R. Coscia, and its new executive director, Christopher O. Ward, attended the morning meeting of the World Trade Center redevelopment subcommittee, as did almost every other member of the board of commissioners. The meeting was closed to the public and the press as soon as the Silverstein lease came up on the agenda. More details are expected this afternoon.

The board is also close to approving $5 million for the planning of a centralized command and communications center, and $4.2 million for the design of 600,000 square feet of the authority’s headquarters space under a contract with Studios Architecture. It is also likely to approve a $90.6 million plumbing contract and a $72.4 million heating, ventilating and air-conditioning contract for 1 World Trade Center, also known as the Freedom Tower, where steel columns are now reaching above street level.
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  #270  
Old Posted May 22, 2008, 5:33 PM
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this is fantastic news. adds a legitimate tenant to the site which so far the biggest tenant are city agencies.

ofcourse if it all goes through.

bad news of this is the delay. But if it gets Merril on board then not too bad. Add to this the fact that more space may be added to the tower as a concession for the late fees the city will owe silverstein.

I also don't feel too bad for Brookfield cause when Merril moves out, they will be able to charge premium dollar for the space at the WFC and Im sure there will not be a shortage of companies trying to get in there
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  #271  
Old Posted May 22, 2008, 8:06 PM
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The number of large firms committed to having its headquarters or a presence in Downtown will exceed that of pre-9/11. Things couldn't be any brighter for the area and the financial district.
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  #272  
Old Posted May 22, 2008, 9:46 PM
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...except that it means it'll take another year to finish the building...
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  #273  
Old Posted May 22, 2008, 10:22 PM
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If it means a garuanteed star tenant such as Merrill. Im fine with the delay
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  #274  
Old Posted May 22, 2008, 10:36 PM
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...except that it means it'll take another year to finish the building...
It'll only take an extra 5 to 6 months. I don't see anybody getting hurt from that, especially if it means a major tenant added to the site. We're talking 5 years from now.
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  #275  
Old Posted May 22, 2008, 10:41 PM
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http://www.wnyc.org/news/articles/99672

Ground Zero Towers Delayed as Merrill Lynch Mulls Moving In

by Arun Venugopal
May 22, 2008

The Port Authority is pushing back the deadlines on three of the towers at the World Trade Center. The agency granted developer Larry Silverstein another four to six months to complete the projects, because Merrill Lynch may be moving in to the complex. Larry Coscia is the Port Authority's chairman.

COSCIA: We think the size of Merrill Lynch's requirement, and the impact on the regional economy, justifies our looking at a uniquely suited project to accommodate their needs.

REPORTER: Coscia wouldn't say how much space Merrill would need downtown. The company is one of the largest private employers in Lower Manhattan. Towers 2, 3, and 4 are now expected to be completed in 2012.

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Merrill Lynch renews talks for move to WTC

The Port Authority of New York and New Jersey on Thursday paved the way for talks to continue when it voted to grant Mr. Silverstein a six-month extension so he can delay completing construction of the building, known as Tower 3, until August 2012.

Mr. Silverstein requested the extension so he will have time to redesign the building to accommodate the large trading floor Merrill Lynch requires. Under an agreement Mr. Silverstein reached in 2006 with the site’s landlord, the Port Authority, he is supposed to deliver the completed buildings by February 2012.
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  #276  
Old Posted May 22, 2008, 11:34 PM
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does it really take 6 months to make a building a little taller/fatter? the delay sucks

oh well, at least there's other stuff to look at while this one isn't moving
     
     
  #277  
Old Posted May 23, 2008, 12:08 AM
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So if I understand this correctly, the building will essentially have the same design, but now it has the potentail to being taller and 'thicker' at the base. Is that correct?

I'm happy with this potential deal because as Scruffy said, not only is there a solid tenant for this tower, but there is also potentail for more big name companies to move into the WFC.
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  #278  
Old Posted May 23, 2008, 2:22 AM
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As long as they don't mess with Rogers design, I'm fine with them enlarging the tower.
     
     
  #279  
Old Posted May 23, 2008, 3:30 AM
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does it really take 6 months to make a building a little taller/fatter? the delay sucks
Never underestimate bureaucracy.
     
     
  #280  
Old Posted May 23, 2008, 5:53 AM
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Originally Posted by philvia View Post
does it really take 6 months to make a building a little taller/fatter? the delay sucks
There's the matter of finalizing a deal with Merrill. I imagine they won't alter the design if a deal isn't reached, but it will take some months before they can know for certain because its early in the process. Remember, Merrill is just now treading that water again. So its best to halt things now so they won't have to dig anything up later.
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