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  #941  
Old Posted Jul 16, 2009, 8:21 PM
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A tall building is considered to be ‘under construction’ when site clearing has been completed and foundation / piling work has begun.
I'm assuming that's why it was moved to construction in the first place, but that stopped months ago.
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  #942  
Old Posted Jul 16, 2009, 8:50 PM
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Except for the spires, I really like this one. Not exceptional, but just a well-built building with a nice shade of blue. No experimental modern art crap attached, great!
     
     
  #943  
Old Posted Jul 16, 2009, 10:48 PM
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"Merrill restarts talks to move to WTC site: WSJ"

Well hell, considering how hard it is to get Towers 2 and 3 started, why don't they pitch the idea of moving into one of THOSE to Merrill Lynch? I'd rather see one of those designs modified with a larger footprint to give them the trading floors they need than not built at all for a few decades.
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  #944  
Old Posted Jul 17, 2009, 12:00 AM
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"Merrill restarts talks to move to WTC site: WSJ"

Well hell, considering how hard it is to get Towers 2 and 3 started, why don't they pitch the idea of moving into one of THOSE to Merrill Lynch? I'd rather see one of those designs modified with a larger footprint to give them the trading floors they need than not built at all for a few decades.
As of right now Bank of America is begining to move Merrill Lynch Investment Bankers and the M&A division to 1 Bryant Park, along with other BofA staff. From what I understand, BofA is flirting with the idea of whether or not to keep Merrill at the WFC once its lease is up in 2013, or move them all together to 1 Bryant Park and their other Midtown offices.

However, there are many key people at Merrill that are pushing to keep the majority of the brokers, as well as the Global Wealth Management, and Asset Managment divisions at 4 WFC. As I've said in the BofA Tower thread, many Merrill people are unhappy with the move (among other things BofA) and would want to remain where they are.

BofA has some time to make up their minds, but the only real option Merrill has at remaining downtown, is to remain at the WFC. The need for a whole tower is really no longer needed, because staff is being split up into other buildings, and the company has sadly lost many important people.

If I had to place a bet, I'd say that some divisions of Merrill will remain downtown, but not in the numbers that could occupy partly 2 WFC and all of 4 WFC.
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  #945  
Old Posted Jul 17, 2009, 12:28 PM
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I'm assuming that's why it was moved to construction in the first place, but that stopped months ago.
Well if it started construction but stalled then wouldn't it be on hold, and therefore it would remain in the construction forum like the Chicago Spire.
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  #946  
Old Posted Jul 17, 2009, 2:02 PM
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How much real foundation was done at this site? The thread is almost entirely comprised of complaints about why the project has been delayed, the Port Authority, and "retail stumps". You'd have to go back along way to see anything about anything relating to actual work going on at the site.

Seems more appropriate that it should be in the "proposals" section, particularly given that the design and financing is completely up in the air at this point.
     
     
  #947  
Old Posted Jul 19, 2009, 4:19 PM
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How much real foundation was done at this site? The thread is almost entirely comprised of complaints about why the project has been delayed, the Port Authority, and "retail stumps".
There was very little done on site - compared to Tower 4 - because of multiple delays. Seems to have went on hold shortly after work had begun, and stayed that way. It hardly matters at this point which subforum the tower is in. There will be an imminent settlement at which point we will see where the status of both towers 2 and 3 will be.
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  #948  
Old Posted Jul 21, 2009, 1:03 PM
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http://cityroom.blogs.nytimes.com/20...te-personally/

Paterson to Negotiate Personally With Silverstein

By Charles V. Bagli
July 20, 2009

Gov. David A. Paterson announced on Monday afternoon that he would negotiate personally with Larry A. Silverstein, the developer, in an attempt to resolve the long-running deadlock at ground zero over the construction of office towers on the 16-acre site.

Although his administration had been involved in prior unsuccessful efforts to resolve the dispute, Mr. Paterson said he had been distracted until now by the battling in the State Senate between Democrats and Republicans. He said he met with Mr. Silverstein on Monday morning and they agreed to continue discussions about a possible settlement, postponing, at least for now, binding arbitration.

Mr. Silverstein has insisted that the Port Authority of New York and New Jersey finance two of the three office towers he is to build along Church Street. But both the governor and the authority have been reluctant to finance more speculative office space at a time when rents are declining and tenants are scarce.

The governor said that he could not say that two sides were “any closer” today, but he and Mr. Silverstein agreed that binding arbitration was “an unlimited waste of time” in which both sides would be at each other’s throats.

Mr. Paterson said that Mr. Silverstein had taken on little financial risk while adopting a “build it and they will come” approach to development, which had proven wrong in the past.

Mr. Silverstein issued a statement saying he looked forward “to continuing these discussions.”

Stephen Sigmund, spokesman for the Port Authority, said: “We appreciate Governor Paterson’s leadership and agree with his principled position on protecting public resources. In the meantime, the Port Authority will continue to make daily and visible progress on the Memorial, One World Trade Center, the Transportation Hub and the other public infrastructure.”
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  #949  
Old Posted Jul 21, 2009, 1:08 PM
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http://www.nypost.com/seven/07212009...464.htm?page=2




In the Ground Zero slugfest between Larry Silverstein and the Port Authority, each side has drawn on the views of allies and surrogates to make its case.

Among the most prominent civic groups in the PA's camp is the transit-oriented Regional Plan Association. In May, the RPA was among several transportation advocacy groups that opposed helping Silverstein in letters they wrote to elected officials.

This month, the RPA went to bat for the PA again, when it joined others urging Silverstein to accept a "compromise" in which the PA would backstop $1.2 billion in debt if he first secured $625 million from other sources -- an offer he rejected.

RPA President Robert Yaro said, "We continue to believe that subsidizing speculative office buildings is a poor use of scarce public resources."

Now, given the RPA's priorities, it's not shocking that it would speak out against helping build new office towers. But there's another reason why the RPA might be more sympathetic to the PA's side.

Early this year, the PA awarded a whopping $850,000 contract to the RPA, according to a filing we found deep within the PA's Web site.

What was the money for? To produce an "All-Airport Regional Congestion and Long-Term Capacity Constraint Study" for the period Feb. 5, 2009-Dec. 31, 2010.


PA spokesman Stephen Sigmund defended the $850,000 payout, saying that a study "to address a serious . . . transportation issue like how to relieve aviation congestion is a lot more appropriate use of public funds than taking $4 billion out of the PA's capital plan to build speculative private office space . . . and about 50 times less expensive."

Well, we're not implying a quid pro quo between the PA and the RPA. But as an old saying has it, "When you bite the hand that feeds you, it feeds you less well."
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  #950  
Old Posted Jul 22, 2009, 9:38 PM
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"Early this year, the PA awarded a whopping $850,000 contract to the RPA, according to a filing we found deep within the PA's Web site.

What was the money for? To produce an "All-Airport Regional Congestion and Long-Term Capacity Constraint Study" for the period Feb. 5, 2009-Dec. 31, 2010."




So much for "protecting public resources."

Can't they just chalk a complete rebuild of the WTC in 4 or 5 years to "fiscal stimulus" and get it over with???
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  #951  
Old Posted Jul 27, 2009, 1:37 AM
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So much for "protecting public resources."

Can't they just chalk a complete rebuild of the WTC in 4 or 5 years to "fiscal stimulus" and get it over with???
The PA didn't want anything to do with the Freedom Tower, and will be dragged, kicking and screaming, before it willingly gets behind a full rebuilding.
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  #952  
Old Posted Aug 4, 2009, 11:10 PM
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http://online.wsj.com/article/BT-CO-...04-716803.html

WTC Arbitration Sought; Mayor Slams Port Authority

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August 4, 2009

Silverstein Properties announced it would seek binding arbitration with the Port Authority of New York and New Jersey, citing what it called the agency's "inability to meet its rebuilding obligations" at the World Trade Center site.

The notice calls for an impartial three-member panel to resolve the dispute through binding and expedited arbitration. It also calls for an exchange of evidence by Aug. 25, with an arbitration hearing to begin about two weeks later.

New York City Mayor Michael Bloomberg said the prospect of delays at the site was "simply unacceptable. It's been more than 10 months since the Port Authority released a revised schedule with promises of long-needed transparency and accountability. The Port was to remove the existing barriers holding up progress at the site - it hasn't."

Bloomberg went on to say in his statement that the Port Authority has "consistently failed" to meet its contractual agreements, calling for immediate changes including independent oversight to the Port Authority's progress.

-By John Kell, Dow Jones Newswires
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  #953  
Old Posted Aug 5, 2009, 2:47 PM
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The problem with the Port Authority is that it is completely unanswerable to voters. They are a prime example of a self-serving government bureaucracy answerable to no one, and should be quite simply dismantled.

Maybe outrage over the second atrocity at the WTC site - the way the PA has dedicated itself to impeding the repair of NYC's skyline - will lead to such an outcome. If Al Quaida had official representation in the rebuilding process, it's hard to imagine how they would do anything differently than what these piss poor excuses for Americans are doing.
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  #954  
Old Posted Aug 5, 2009, 9:34 PM
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Originally Posted by CoolCzech View Post
Maybe outrage over the second atrocity at the WTC site - the way the PA has dedicated itself to impeding the repair of NYC's skyline - will lead to such an outcome. If Al Quaida had official representation in the rebuilding process, it's hard to imagine how they would do anything differently than what these piss poor excuses for Americans are doing.
Have to say I agree.
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  #955  
Old Posted Aug 5, 2009, 9:47 PM
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http://www.wtc.com/news/snarling-up-ground-zero

Snarling Up Ground Zero

By Sheldon Silver
August 05, 2009
New York Post
http://www.nypost.com/seven/08052009...991.htm?page=2


WITH the eighth anniversary of the 9/11 attacks just a few short weeks away, New Yorkers face the unfortunate prospect of yet another anniversary where work at the site has ground to a halt.

For months, the Port Authority and the site's developer, Larry Silverstein, have been locked in an endless negotiation over financing the remaining towers.

On Monday, Gov. Paterson came down firmly on the PA's side, demanding Silverstein accept terms that would make it nearly impossible for him to go forward with the construction of Towers 2 and 3, or else face the loss of his entire interest in the World Trade Center site. [Editor's note: Yesterday, Silverstein presented the PA with a "notice of arbitration" letter, kicking off binding arbitration.]

I'm concerned that the governor's proposal, rather than move the rebuilding forward, will result in yet another standstill and many more anniversaries marked by endless delay.

This dispute dates back to 2006 -- when, after five years of false starts and unrealistic deadlines under the Pataki administration, the PA and Silverstein reached an agreement whereby the PA would take over development of the Freedom Tower and the former Deutsche Bank building while Silverstein would build Towers 2, 3 and 4 along Church Street.

That deal required the PA to turn over construction-ready sites for Towers 2 and 3 to Silverstein by the end of 2008. It didn't happen: Eight months into 2009, the PA is paying Silverstein $300,000 a day in late fees for its failure. Meanwhile, Lehman Brothers imploded, credit markets dried up and the developer lost any opportunity he had to privately finance the construction of the two towers.

The PA maintains it can't afford to provide any new financing for Towers 2 and 3. Silverstein insists that, if he doesn't get the help, the site will remain vacant for years or even decades.

That's where things stood in May when Mayor Bloomberg and I asked the parties along with the governors of New York and New Jersey to come to the table and find a compromise that would let rebuilding move ahead.

I agree with Gov. Paterson and the PA's concerns. Given the economic crisis, we can't expect the taxpayers to foot the entire cost of all that we want and need to build. Every stakeholder -- including and especially Larry Silverstein -- must take on a greater share of the risk.

Those two principles have been at the core of every proposal we've discussed in trying to broker a compromise. Unfortunately, the Port Authority has offered only intransigence and avowed a willingness to see a standstill at the site rather than accept a middle ground.

The PA and Gov. Paterson maintain that today's market doesn't support the office space Towers 2 and 3 would provide. I agree -- but I also believe that the decision we face isn't about building for today.

It's about building for the economy that we want and the economy Lower Manhattan deserves years down the road.


That was the guiding principle behind the rebuilding of 7 World Trade -- the first building erected after 9/11, at a time when no one thought Lower Manhattan could come back from such devastation. That building's success is a gleaming testament to the idea of building for the future.

The Port Authority also maintains that it can't afford to dedicate any added funds to financing the World Trade Center site without placing other vital regional transportation projects in jeopardy. That's a false choice.

The World Trade Center is not merely another project to be pitted against other priorities -- but rather a symbol to the world of our faith in our city, in this community and our commitment to rebuild after the worst terrorist attack ever on American soil.


I have lived in Lower Manhattan all of my life and have had the privilege of representing the district in the Assembly since 1977. I have seen this community knocked down and fight its way back to the top -- first in the late 1970s and again after the 9/11 attacks -- and I have tremendous faith in our ability to rebound once again from this downturn.

For the nearly eight years since the attacks, I've worked to return Lower Manhattan to its place as the nation's third-largest central business district. Working with the community, I've fought for a fully redeveloped World Trade Center, a memorial to honor the more than 3,000 whose lives were lost, a performing arts center that will draw in visitors from all over the world and an above-ground, architecturally worthy Fulton Transit Center with significant retail.

Despite the current downturn, I continue to believe we have not only a moral obligation to rebuild but also an important opportunity to demonstrate our resolve to the nation and the world; to build a more vibrant, 24/7, mixed-use community that is better and brighter than ever before.

Unfortunately, the path suggested by the governor won't get us there.

I urge all of the parties to come back to the table with Mayor Bloomberg and myself and work to reach a compromise that protects taxpayers, requires the developer to take on substantially greater risk and -- most important of all -- gets the rebuilding process moving again in time to make real progress before the next anniversary of the 9/11 attacks.
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  #956  
Old Posted Aug 6, 2009, 5:05 AM
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Talk about too little, too late....

http://www.newsday.com/wtc-owner-pro...oper-1.1321965
WTC owner: Property ready for developer

July 23, 2009 By The Associated Press

NEW YORK (AP) — The agency that owns the World Trade Center site says it will soon be able to stop paying a $300,000-a-day penalty for missing deadlines to turn land over to the developer.

The Port Authority of New York and New Jersey announced Thursday that a construction company will move parts of a retaining wall on site. That will allow the agency to turn the land over to Larry Silverstein.

The agency had to pay the penalties for missing deadlines set in Silverstein's lease on the property.

The retaining wall was needed for excavation work. The Port Authority said that work should be done in four to eight weeks.

A spokesman for Silverstein Properties said it was nice to see the agency moving forward, but pointed out it's been more than six months since the Port Authority was told to do so.
_________________________________

http://www.wnyc.org/news/articles/137304
Port Auth to Move WTC Retaining Wall, Saving $300G a Day

by Matthew Schuerman
July 24, 2009

—The Port Authority says it's found a way to resolve a situation that was costing it some $300,000 a day.

The authority was supposed to turn over two building sites at the World Trade Center site to developer Larry Silverstein more than a year ago. But a small piece of the property was occupied by a retaining wall.

Port Authority Executive Director Chris Ward said engineers figured out how to move the wall 10 feet to the west without disturbing the subway tunnel behind it.

WARD: This has been a process which has clearly has evolved.

REPORTER: Under their contract, The Port Authority has been paying Silverstein $300,000 for each day after the July 1st, 2008 deadline that it has failed to turn over the sites. The authority estimates it'll pay more than $130 million before it finally finishes the excavation in August or September.
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  #957  
Old Posted Aug 7, 2009, 1:35 AM
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I'm still waiting for the headline, "Port Authority Moves to Cancel Calatrava Station Boondoggle, Saving $3 Billion."

But of course, that white elephant doesn't really bother the PA's NYC developer friends, does it?
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  #958  
Old Posted Aug 7, 2009, 1:40 AM
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I'm still waiting for the headline, "Port Authority Moves to Cancel Calatrava Station Boondoggle, Saving $3 Billion."
I have to agree that has also crossed my mind. You never know, but if anything financial squabbles really show the true colors of what a need and want is. I genuinely believe that Lower Manhattan needs new office space that’ll attract high profile tenants for many years to come. The glamorous transit hub is merely a want, and believe me it would be a ‘cool’ thing to have, but not at the expense of the Downtown office market.
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  #959  
Old Posted Aug 7, 2009, 1:47 AM
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And another point I’ll add, I spent a lot of time walking the streets of Lower Manhattan the other day, and what really jumped out at me was when I was on Water Street. Many of those low-rise boxes are not only vacant in some noticeable degrees, but in no way are they sufficient for modern day needs and needs for the future (which is why a handful are being converted into residential). Point is this site is the last real opportunity for Lower Manhattan to receive a large influx of new office space that will attract prime tenants for many years to come. Much of what you see presently is either dated or on its way out. Now’s the time to strike in order to invest for the future.
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  #960  
Old Posted Aug 10, 2009, 10:55 PM
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http://ny1.com/content/top_stories/1...s/Default.aspx

Public Hearing To Address WTC Progress

By: NY1 News

New Yorkers will soon get the chance to weigh in on the delayed redevelopment at the World Trade Center site.

State Senator Bill Perkins says the Committee on Corporations will hold a public hearing on the plans next month.

Perkins, who chairs the committee, calls the delays embarrassing and says the feud over financing between the site's developer and the Port Authority is threatening to delay the already behind schedule project.

"We are literally still at ground zero when it comes to the monument and development of that site, Perkins said. "It's a site that has local, national and international importance and it's important that we try to play a role in moving it along."

"We must put that site back, not only for the families of the 2,700 plus people that were lost but for the United States of America," said Clyde Frazier, father of a victim of the September 11th terrorist attacks.

Last week, developer Larry Silverstein took his impasse with the Port Authority to binding arbitration -- which could add months to rebuilding process.

Silverstein is blaming the agency for hampering his ability to lease space at three office towers.

The Port Authority says Silverstein has been unwilling to modify his development to reflect the economic downturn.
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