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  #1041  
Old Posted Dec 29, 2009, 5:28 AM
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Is there a specific deadline for the arbitration? Is it just the end of the year?

If silvy wins does that automatically mean that both towers 2 and 3 will go up and that they will start construction this year?

Excuse the silly questions, I'm a little behind on my wtc redevelopment facts as of now.
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  #1042  
Old Posted Dec 29, 2009, 2:43 PM
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Originally Posted by Zapatan View Post
Is there a specific deadline for the arbitration? Is it just the end of the year?

If silvy wins does that automatically mean that both towers 2 and 3 will go up and that they will start construction this year?

Excuse the silly questions, I'm a little behind on my wtc redevelopment facts as of now.
If you insists on posting in these threads, if might help if you actually read the information posted beforehand.
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  #1043  
Old Posted Dec 29, 2009, 8:35 PM
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^^^ Silverstein wants to get through this so he can get his hands dirty with the intentions he’s carried for the site since day one. So yeah, if he wins I would imagine he’s not going to wait around for things to happen on their own.

Take from that what you want.
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Last edited by Dac150; Dec 29, 2009 at 10:09 PM.
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  #1044  
Old Posted Dec 29, 2009, 10:07 PM
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Cool thanks. That's what I thought just wasn't sure.
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  #1045  
Old Posted Jan 28, 2010, 1:32 AM
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NY1

01/27/2010 06:35 PM
Arbitrators Call For New WTC Timetable
By: NY1 News

The rebuilding schedule at the World Trade Center site is once again up in the air.

Arbitrators have given the Port Authority, which owns the land, and developer Larry Silverstein 45 days to renegotiate a construction timetable.

The decision was handed down after Silverstein sought damages and rent abatement for infrastructure delays.

The arbitration panel denied those requests, but relaxed a provision which would have stripped Silverstein Properties of development rights to Towers 2, 3 and 4 if they are not completed on time.

In statements, both sides had a positive reaction to the panel's order to head back to the negotiation table.





Copyright © 2010 NY1 News. All rights reserved.
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  #1046  
Old Posted Jan 28, 2010, 1:38 AM
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This ought to be interesting. I’m hinging my bets that the PA is growing tired of this whole debacle and will begin to give in to what makes sense, and quite frankly what is right. But then again they’re the PA, so it’s anyone’s guess at this point. Silverstein’s devotion to this is key and it’s clear he’s not letting up on anything. All things considered this ruling could’ve been worse. I’m staying positive to the fact that this will be worked out within a few months.
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  #1047  
Old Posted Jan 28, 2010, 5:55 PM
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Or, they could procrastinate until Day 1 and say WE'RE GOING TO BUILD STUMPS.

You never know what they're planning, but I think that's what they might decide.
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  #1048  
Old Posted Jan 28, 2010, 6:41 PM
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Building stumps would be one of the saddest things that could ever happen to this city.


It sounds like that might not happen though... just trying to be a little optimistic.
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  #1049  
Old Posted Jan 28, 2010, 7:08 PM
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My bet: one of them will be built, and the other will be built to grade and either have a temporary park put on top or a stump.

Unfortunately I like both designs, so it's going to suck either way.
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  #1050  
Old Posted Jan 28, 2010, 7:15 PM
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I´m sure that Tower 3 will be finshed before Tower 2 is complete.
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  #1051  
Old Posted Jan 28, 2010, 10:46 PM
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Originally Posted by meh_cd View Post
My bet: one of them will be built, and the other will be built to grade and either have a temporary park put on top or a stump.

Unfortunately I like both designs, so it's going to suck either way.
Tower 3 has already been put on the back burner by Silverstein. If one of the towers rises in the near future, it will be Tower 2. Tower 3 is on hold indefinitely.
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  #1052  
Old Posted Feb 18, 2010, 11:29 PM
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http://www.crainsnewyork.com/article...FREE/100219888

Silverstein offers more money for Ground Zero site
Developer's overture to put more of his own skin in the game is latest twist in negotiations to end longtime financing fight with Port Authority of New York & New Jersey.


By Theresa Agovino
February 18, 2010

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Developer Larry Silverstein is offering a host of proposals, including ideas that put more of his own money at risk, to end his battle with the Port Authority of New York & New Jersey over financing two of his towers at Ground Zero, sources say.

However, it’s questionable that Mr. Silverstein’s moves will actually bring the two sides closer, as sources familiar with the Port say the agency regards the proposal as “smoke and mirrors” that don’t really change the underlying financing of the deal.

To make financing two of his three planned towers more palatable, Mr. Silverstein says he'll pony up between $150 million and $250 million to fund the second tower instead of just the $50 million he had originally offered. He has also offered to allocate the insurance money and proceeds from all of his Liberty bonds to build the two towers. The proceeds were originally supposed to be divided over the three towers.

Additionally, in a move that will save about $262 million, Mr. Silverstein will build what is referred to in various development plans as Tower 3, instead of his more expensive Tower 2.
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  #1053  
Old Posted Feb 19, 2010, 12:56 AM
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Quote:
Originally Posted by NYguy View Post
Tower 3 has already been put on the back burner by Silverstein. If one of the towers rises in the near future, it will be Tower 2. Tower 3 is on hold indefinitely.
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http://www.crainsnewyork.com/article...FREE/100219888

Silverstein offers more money for Ground Zero site
Additionally, in a move that will save about $262 million, Mr. Silverstein will build what is referred to in various development plans as Tower 3, instead of his more expensive Tower 2.


By Theresa Agovino
February 18, 2010
Heh.

How much money does Silverstein have anyway? If I were his age and rebuilding the WTC was my primary goal, I'd invest every penny I had.
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  #1054  
Old Posted Feb 19, 2010, 3:52 PM
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How much money does Silverstein have anyway? If I were his age and rebuilding the WTC was my primary goal, I'd invest every penny I had.
Rebuilding the WTC is probably his biggest job, but that's just not the way it works. Nobody puts all of their own money into these things. It's why buildings around the world are stopped in their tracks, or canceled outright.
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  #1055  
Old Posted Feb 19, 2010, 4:27 PM
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It's why buildings around the world are stopped in their tracks, or canceled outright.
That’s just it though, this is not just ‘some’ building or ‘some’ site. A hole left in the ground will undoubtedly call for public outrage; simply won’t fly.
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  #1056  
Old Posted Feb 19, 2010, 4:37 PM
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That’s just it though, this is not just ‘some’ building or ‘some’ site. A hole left in the ground will undoubtedly call for public outrage; simply won’t fly.
There's been so much sloppiness with the rebuilding of "ground zero" over the years, the the public now has "outrage" fatigue, and has generally pushed the rebuilding process out of mind. We'll see what the outcome of Silversteins "exposure" on 60 minutes will bring.

The Port Authority has the gall to say that Silverstein is the only one with "holes" in the ground at the site, while Silverstein is the only one with an actual completed building - years removed.
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  #1057  
Old Posted Feb 19, 2010, 4:49 PM
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Agreed, but as the 10th anniversary rolls closer there will be more and more eyes looking at the site. It’s no secret what the demeanor of the opinions will be, but a hole still being visible at that time won’t go over well.
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  #1058  
Old Posted Feb 20, 2010, 8:23 PM
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There's been so much sloppiness with the rebuilding of "ground zero" over the years, the the public now has "outrage" fatigue, and has generally pushed the rebuilding process out of mind. We'll see what the outcome of Silversteins "exposure" on 60 minutes will bring.

The Port Authority has the gall to say that Silverstein is the only one with "holes" in the ground at the site, while Silverstein is the only one with an actual completed building - years removed.
There has been so much "outrage" expressed over so many different subjects in this country over the last two decades, it's a wonder America hasn't had a collective heart attack, lol.

Bloomberg said he'll be damned if the site isn't completed by the time he kicks the bucket, in another decade or so. I hope he's serious about that, and joins with the Governor to pressure the PA. What the point of a totally independent, self-serving authority like the PA is, is beyond me. Whatever it is, is has not served the people of New York City well.
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Last edited by CoolCzech; Feb 20, 2010 at 10:47 PM.
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  #1059  
Old Posted Feb 21, 2010, 2:25 AM
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Bloomberg said he'll be damned if the site isn't completed by the time he kicks the bucket, in another decade or so. I hope he's serious about that, and joins with the Governor to pressure the PA. What the point of a totally independent, self-serving authority like the PA is, is beyond me. Whatever it is, is has not served the people of New York City well.
They have their moments. But why the agency that took so much pride in building the original, and is still the owner is proving to be such an obstacle in getting the site rebuilt is a mystery. I know these aren't the same people, but they should have been leading the charge to get the site rebuilt.
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  #1060  
Old Posted Feb 21, 2010, 4:51 PM
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They have their moments. But why the agency that took so much pride in building the original, and is still the owner is proving to be such an obstacle in getting the site rebuilt is a mystery. I know these aren't the same people, but they should have been leading the charge to get the site rebuilt.
Well said NYguy. The Port Authority is making this difficult more than it has to be. The progress done so far is great but there is much more to be done like getting Towers 2 & 3 the financing it needs so that construction can continue. Ofcourse many can wish the attacks of 9/11 never happened and I wish indeed that it didn't but all we can do is look towards the future so the Port Authority and Larry Silvertstein can develop and produce a more iconic landmark than what was there. In my mind I also feel the Port Authority just wants to keep the new World Trade Center simple and sweet with One World Trade Center, the Transit Hub, and the Memorial despite their billion dollar plus costs. Whatever happens with the East Bathtub is all on Silverstein, which was their original agreement. I'm sure in the end all the problems will work out but it will take some time to achieve that.
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