View Full Version : Two New Downtown Towers

November 13th, 2002, 11:41 PM
Reported today:

Agency OKs $215M in Housing Projects


ALBANY, N.Y. (AP) -- A state board authorized $215 million in bonds Wednesday to build two apartment complexes financed through a federal program to rebuild lower Manhattan after last year's terrorist attacks.

The Public Authorities Control Board approved bonding of the housing developments, despite complaints that the projects do not include enough units for lower-income residents.

The planned projects, bonded through the state Housing Finance Agency, provide 551 apartments in two high-rises, one in the financial district and one in Battery Park City, near the World Trade Center site.

Plans call for 5 percent of the units in each building to cost below market rate.

The projects were funded through the Liberty Bond program, a congressionally approved plan to use up to $8 billion in tax-exempt bonds to rebuild after the Sept. 11, 2001, terrorist attacks.

Rich Battista
November 14th, 2002, 10:35 PM
well that is good news i guess