View Poll Results: Construction is underway, how do you feel about the final design for the WTC site?

Voters
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  • I am more than satisfied; I believe that the final design surpasses that of the original World Trade Center. 10/10

    50 26.04%
  • While nothing may ever live up to the Twin Towers, I am wholly satisfied with the new World Trade Center; it is a new symbol for a new era. 7/10

    55 28.65%
  • I have come to terms with the new World Trade Center; although it has a number of flaws, I find the design to be acceptable. 5/10

    48 25.00%
  • I am wholly disappointed with the New World Trade Center; we will live to regret the final design. 0/10

    22 11.46%
  • I am biased, but honest, and hate anything that is not a reincarnation of the original Twin Towers.

    17 8.85%
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Thread: World Trade Center Developments

  1. #4411

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    it saves money and still looks great. win win!

  2. #4412

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    March 16, 2009, 10:23 am

    When Are They Going to Build the New World Trade Center? Just Look Up.

    By David W. Dunlap

    David W. Dunlap/The New York Times
    Steelworkers on 1 World Trade Center, now more than 100 feet above street level.

    The steel framework for the south core of 1 World Trade Center has reached more than 100 feet above Vesey Street. The north pool of the National September 11 Memorial and Museum at the World Trade Center is taking visible shape. And by the end of the month, the Port Authority of New York and New Jersey expects to have placed an order for 22,000 tons of steel to build the World Trade Center Transportation Hub.

    It seems safe now to say that the new World Trade Center is under way.

    That doesn’t mean that it is anywhere close to completion. But the battleground has shifted largely from offices and conference rooms to the 16-acre site itself and the task of engineering and assembling an interlocking three-dimensional puzzle that begins 70 feet below street level and is to culminate at a point higher than any other in New York City.

    The memorial plaza is to open on Sept. 11, 2011, followed by the underground memorial museum and Tower 4 in 2012; 1 World Trade Center, also known as the Freedom Tower, in 2013; and the transportation hub in 2014. Less clear, as the economic storm gains force, are the fates of Tower 2, Tower 3 and Tower 5. And it never hurts to add the caveat that a lot surefire plans at ground zero have been foiled by circumstance.

    VIDEO HERE

    Taking that into account, The Times plans to follow construction (or delays) over the next few years in a series of video reports, beginning with this one. These reports will focus on the big milestones, on the fascinating details that must be resolved, and on the many men and women who are building the new trade center. If you have a few years to spare, stay tuned.

    http://cityroom.blogs.nytimes.com/20...-just-look-up/

    Copyright 2009 The New York Times Company
    Last edited by brianac; March 16th, 2009 at 11:25 AM.

  3. #4413

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    World Trade Center Construction: A Photo Tour

    By Eliot Brown
    March 16, 2009 | 8:42 a.m.


    A look at the core of the Freedom Tower, which is the concrete section in the middle that is home to the guts of the building, including elevators. The outer steel beams stake out the perimeter of the tower.

    SLIDESHOW HERE

    Photos by Eliot Brown.

    On Friday, the folks over at the Port Authority were kind enough to take me on a tour of construction at the World Trade Center site, which the agency owns. I last went down there a little less than a year ago, and the most notable difference was that we spent almost all the time below street level then, as all the action was quite a few feet down. Now, the core of the Freedom Tower has risen up above the street, with a cage of steel over that. The memorial, too, has installed steel and the outlines of the signature waterfalls have taken form.

    Also within the last year, delays on the public-sector-built portions of the site—the memorial, the Freedom Tower, and the Santiago Calatrava–designed PATH station—have come to the public's attention. It will be 2015, now, before portions of the project are expected to be finished. Attention turns to the private-sector portion of the project: three planned office towers built by developer Larry Silverstein, which officially must be completed by 2014.

    That timetable, however, is subject to negotiation. Much more on that here, in a story from last week’s paper.

    http://www.observer.com/2009/real-es...ion-photo-tour

    Copyright The New York Observer.

  4. #4414

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    Silverstein concedes that 100 Church Street is on hold

    Daniel Geiger
    3/18/2009

    Stretches WTC tower development as far as 2017


    Speaking at a real estate breakfast held by the New York Post today, World Trade Center developer Larry Silverstein continued to pledge that he would build the three office towers he is planning to develop at the site as fast as he could but admitted that another of his downtown projects has been put on hold.


    ARTICLE


    http://www.rew-online.com/news/story.aspx?id=621


    © Copyright 2009 Real Estate Weekly,
    Last edited by brianac; March 18th, 2009 at 07:32 PM.

  5. #4415

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    http://online.wsj.com/article/SB123758929303200145.html

    Developer of 9/11 Site Seeks Aid


    By ALEX FRANGOS

    NEW YORK -- The rebuilding of the World Trade Center site, already hobbled by years of delays and infighting, is facing fresh problems as private developer Larry Silverstein asks the government for crucial financial assistance, according to people familiar with the matter.

    The result would be that the Port Authority of New York and New Jersey, the government entity that owns the site, would take on more of the risk of the project at a time when the agency already faces budget restraints to pursue its core transportation and infrastructure missions.

    The Port Authority, eager to prevent the project from stalling, is considering helping to finance at least one of Mr. Silverstein's planned three office towers, according to people familiar with the matter. Mr. Silverstein is requesting financing help on at least two of the three towers. The Port Authority would require concessions from Mr. Silverstein, including possibly giving up some of upside profits should the towers succeed in the long term.

    The project, meant to be a symbol of the recovery after the Sept. 11 terrorist attacks, has been through years of costly delays and acrimony. The plan for the 16-acre site includes five skyscrapers, a memorial, a transit hub, a shopping mall and a performing-arts center. Much of that was recently expected to open between 2011 and 2013.

    Those dates are in jeopardy and at least some elements are unlikely to be finished until the later part of the next decade. The memorial is set to open by the 10th anniversary of the attacks, but even it faces budget shortfalls and is pursuing federal stimulus money.

    Despite the long-term financial problems, the site has been a beehive of activity after years of delay. The Freedom Tower, owned by the Port Authority, is poking above street level. The memorial is taking shape. And Mr. Silverstein recently installed a crane to begin foundation work on the smallest of his three towers.

    But if construction of the office towers doesn't proceed, the entire site could be plunged into further delays and uncertainty. The planned $3.2 billion transit hub relies on Mr. Silverstein's office towers for ventilation and fire exits. The Port Authority's $3 billion Freedom Tower would be unable to open as planned because its delivery ramps tie underground into the part of the site that Mr. Silverstein jointly controls with the Port Authority.

    Mr. Silverstein declined to comment through a spokesman, but in the past said he is committed to building as quickly as possible.

    A Port Authority spokeswoman said: "We are continuing to discuss with Silverstein Properties how to best meet a changed market while ensuring the World Trade Center site is rebuilt in the best public interest."

    Mr. Silverstein originally planned to finance his three towers through a combination of insurance proceeds, government-subsidized bonds and commitments by the Port Authority and the City of New York to occupy part of one of the towers. He also hoped to attract private-sector tenants to anchor the towers. Before its sale to Bank of America Corp., Merrill Lynch was a possibility.

    But with the economy in a tailspin, raising money to build the $7 billion of office space has been nearly impossible. Making things more difficult, Mr. Silverstein is obliged to pay the Port Authority $79 million a year in ground-lease payments, a legacy of his July 2001 agreement to buy a 99-year lease on the Twin Towers.

    The ground-lease payments to the Port Authority act like a first mortgage on the properties. Any construction financing Mr. Silverstein tries to secure then becomes subordinate to the ground-lease payments, which is an unattractive prospect for lenders.

    Those lease payments have drawn $800 million out of the $4.5 billion insurance settlement since 2001. (The Port Authority has said that money is earmarked for reinvestment into the site.)

    In 2003, Mr. Silverstein used part of the insurance proceeds to pay back his and his partners' $125 million equity in the original 2001 purchase. An additional $563 million was used to pay off a mortgage on the Twin Towers. Much also has been spent on design and site preparation. Mr. Silverstein has less than $1 billion in insurance money left, said people familiar with the project.

    The Port Authority, which derives almost all of its revenue from tolls and fees at its airports, ports and bridges and tunnels, had been wary of putting additional resources into speculative office buildings. Such a move will siphon resources from its other development needs.

    An alternative financing strategy being floated among the parties is to build the towers only up to the first several floors, which are slated for retail space. That would allow the needed infrastructure to be built. The office parts of the towers would be built atop the pedestals when the economy revives. But that strategy has logistical challenges, such as finding retail tenants willing to reside in space that would have to be closed when construction above it resumed.

    While people familiar with the talks are hopeful a deal will be struck, Mr. Silverstein has legal leverage to stall the project in the courts, according to people familiar with the project. The Port Authority has failed to deliver parts of the site to Mr. Silverstein in a timely manner, according to the rebuilding agreement struck in 2006, and has incurred more than $70 million in penalties it pays to Mr. Silverstein. Mr. Silverstein could argue that the agency has made it impossible for him to build.

    The Port Authority also has leverage over Mr. Silverstein regarding promises he made to complete the buildings by certain dates and could theoretically try to remove him from the project, according to government officials. But the agency, which reports to the governors of New York and New Jersey, is unlikely to want the project tied up in a protracted legal battle.

  6. #4416
    Forum Veteran Daquan13's Avatar
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    He wants to be in on part of the stimulus package. Well, he SHOULD be!

    I think he'll use the dough properly and won't piss it away giving out frivelous & ridiculous bonuses to people like AIG did!

    This should hopefully get ALL of Ground Zero rebuilt, and within the planned timeframe!

  7. #4417
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    I'm all for WTC getting stimulus but would rather see it go toward finishing the Fulton transit center, 7 train extension, 2nd Ave subway and LIRR eastside access projects beforehand. There is more need for those projects than there is for more office space.

  8. #4418
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    True, but I think that THIS project also needs a boost financial-wise.

    The fact of the possibility of Ground Zero getting in on the stimulus package as well as the Fulton Street Transit Center, it could help these projects get out of the weeds and help bring back tourists sooner to visit that area and at least know that things are going as planned.

  9. #4419
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    Or make all the AIG financial products goofballs work construction at WTC while the govt unwinds their trades.

  10. #4420
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    Make them pay that unauthorized bonus money to Silverstein so that he can put it toward Ground Zero!

  11. #4421
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    Oh my god, that $170 BILLION that AIG got could have gotten all these built:

    (not in any particular order)

    1) New Penn Station, new MSG and all the towers around there
    2) all of Hudson Yards redeveloped
    3) Tower Verre
    4) 56 Leonard
    5) Beekman Tower
    6) 7 train extension (all the way down to the Battery if they wanted)
    7) the entire length of the Second Ave Subway
    8) Fulton St station
    9) entire WTC site including all the towers, memorial, path terminal, museum, performing arts center, St. Nicholas church, etc.
    10) 99 Church St
    11) One Madison Ave (Libeskind)
    12) Coney Island redevelopment
    13) LIRR East Side Access
    14) Hudson Rail Tunnel
    15) subway/rail connection to La Guardia
    16) new BQE/Gowanus Expressway
    17) West Side Brookfield towers
    18) fix up all 468 subway stations in the city
    19) The Girasole
    20) Solow's East Side/Con Ed site
    21) New/Expanded Javits Convention Center
    22) Atlantic Yards
    23) 50 West St
    24) Silver Cup West
    25) Hunters Point South redevelopment
    26) Willets Point redevelopment
    27) buy off Sam Chang and Gene Kaufman to leave the city forever


    And after all that (I'm sure I've left many others out) we'd still have about $100 BILLION left over.

    I just want to cry now just thinking about all the possibilities for this city and how instead it's all gone to waste to AIG.

  12. #4422
    Forum Veteran Daquan13's Avatar
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    That, no doubt, is an awful lot of money that could have went very far!!

  13. #4423
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    It makes me ill but it is helpful to think of it this way - without that aid the entire US and European banking systems would have ended up being nationalized, and we would be at the beginning of a depression. At least now we still have a chance of getting out of this economic funk over our lifetime.

  14. #4424
    Forum Veteran Daquan13's Avatar
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    Part of the reason or what makes my blood boil is that most of or the other half of Ground Zero seems to get pushed back further and further - yet this snafu of greed, deception dishonesty and disgust was allowed to happen with AIG. Why was or how was this train wreck allowed to continue?
    Last edited by Daquan13; March 23rd, 2009 at 10:03 AM.

  15. #4425

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    Quote Originally Posted by Daquan13 View Post
    Part of the reason or what makes my blood boil is that most of or the other half of Ground Zero seems to get pushed back further and further - yet this snafu of greed, deception dishonesty and disgust was allowed to happen with AIG. Why was or how was this train wreck allowed to continue?
    ^ a lil OT, eh, DQ?

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