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

Voters
192. You may not vote on this poll
  • 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. #4441

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    hey all - great forum

    been a big earthcam viewer and development groupie.

    One quick Q on the memorial construction.

    I notice on the south pool they have left eh eastern edge unfinished where it meets the PATH tracks.

    What is thought to be the strategy to make that transition? I can guestimate where the reflecting pool hole will be and it looks to border right on that wall.

    Why not complete that steel using the crane in the pit? As the far eastern edge bordering the subway box seems complete to ground level
    Last edited by BiggieSmalls; April 14th, 2009 at 11:15 AM.

  2. #4442

    Default Port, Silverstein at Odds Over Last Two Towers; Bloomberg to the Rescue?

    Port, Silverstein at Odds Over Last Two Towers; Bloomberg to the Rescue?

    By Eliot Brown
    April 14, 2009 | 4:13 p.m

    Developer Larry Silverstein and the Port Authority are struggling to reach a resolution over the fate of three planned office towers at the World Trade Center, entering a stalemate that could further delay completion of the site.

    On April 3, the Port Authority, which owns the World Trade Center site, delivered to Silverstein Properties a proposal to remake the existing agreement for the three towers, mostly rebuffing an earlier request by Mr. Silverstein for the agency to finance his towers, according to multiple people familiar with discussions. The agency called for new restrictions on the amount Mr. Silverstein could make from constructing the towers, and for the immediate construction of just one building, Tower 4, which the Port Authority would help finance and in which it would take an equity stake.

    That proposal, which would leave the other two towers—more than 4.4 million square feet combined, with no tenants—to be built when the market will allow, puts the two sides miles apart. The Port Authority was apparently less than enthusiastic about Mr. Silverstein’s request for it to back financing on multiple towers, and in turn, Mr. Silverstein has scoffed—though not officially—at the Port Authority’s counter-proposal.

    The agency’s proposal would likely push development of the other two towers off for years down the road, using up any insurance money now, an offer that frustrates Mr. Silverstein, according to a person familiar with his thinking.

    “No way Larry’s going to agree to that,” the person said of the proposal.
    The result: The site where two of Mr. Silverstein’s towers are to be built will likely remain a pit until there is a resolution, as the 77-year-old developer has no incentive or legal obligation (yet) to build without a financial agreement. Given that site-wide infrastructure such as the HVAC system is to be housed there, a long standoff could further delay numerous other portions of the site, including the PATH hub and the Freedom Tower.

    The two sides are approaching the problem—that the economy will not allow for Mr. Silverstein to build his towers by 2014, called for in the current lease—from quite different positions, and it shows.
    Mr. Silverstein, along with his deputy, Janno Lieber, has put forward a proposal that emphasizes the completion of private development of the site—part of a vision that had city and state government support when the master plan was crafted. He had hoped to get the Port Authority to back the financing on at least two of the three towers—Tower 4 and perhaps Tower 2—allowing the developer to build and then realize profits on the buildings (though the bistate agency could have captured the buildings if he ever defaulted). From this viewpoint, public-sector involvement—through assuming billions in risk—was justified, as rebuilding the World Trade Center is seen as a common goal for Lower Manhattan, the public and Mr. Silverstein.

    The Port Authority’s counter-proposal is centered on shielding itself from more financial commitments while still building out the site’s infrastructure and filling the hole that was ground zero. If it had backed financing on multiple towers, the agency would have needed to cancel, delay or substantially stretch out its other major projects, which include airport improvements and $3 billion toward a rail tunnel under the Hudson River.

    (In a statement, a Port Authority spokesman said the agency’s responsibility is to keep the site moving forward, “as well as helping ensure the office buildings meet a severely constricted marketplace.”)

    In its proposal, the agency called for Mr. Silverstein’s $900 million or so in remaining insurance money to both build out that common infrastructure for all three towers and to help construct Tower 4, which has two major tenants: the Port Authority itself and the City of New York. That tower would, in turn, produce some revenue with which Mr. Silverstein could pay rent. The Port Authority would back financing of Tower 4 with its own assets, though it would take an equity stake and insist that Mr. Silverstein forgo a developer’s fee in the current agreement worth around $50 million.

    With the two sides quite displeased with the other’s offer, the next steps are unclear. A litigation battle could conceivably ensue, with both sides charging that the other missed the timetable for its commitments (infrastructure, for the Port Authority, and, for Mr. Silverstein, completion of the towers). This scenario would seem likely to play poorly before a public already fatigued with changes to the timetable at the site, though that’s more a problem for the elected officials involved than for a private developer like Mr. Silverstein.

    All opens the possibility for someone else to come in and broker a compromise. Governor Paterson ultimately has a seat at the table, though he has remained mum on the issue. His top economic development official, Marisa Lago, avoided the issue when asked about negotiations at a New York Building Congress breakfast forum Tuesday.

    And then there’s Mayor Bloomberg, who has been staying rather quiet for now. He must sign off on any changes to the site’s lease, and officials in his administration have been briefed on discussions and have studied the finances of the project.

    In a statement, Deputy Mayor Robert Lieber said the city wants progress at the site and on-time completion of the memorial: "Both sides need to accept the reality of where things stand and to reach an agreement so that can happen."

    ebrown@observer.com

    Copyright The New York Observer

  3. #4443

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    I don't understand how a tower that takes 5 years to build can be timed with the market.
    Times Square Plaza was under construction during the peak of the office market and still doesn't have a tenant.

    Enormous office towers like these seem close to impossible to build without public money.

  4. #4444
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    You build it only after you have a tenant. Bank Of America is an enormous tower but they had the tenant signed up already. Times Square Plaza took a risk and they now might get burned.

  5. #4445
    Forum Veteran Daquan13's Avatar
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    As of late, other than the Freedom Tower still being on or near schedule as planned, and other than the Memorial and the PATH Station, all there seems to be for the eastern half of Ground Zero, is more bad news about possible impending friggen delays!

  6. #4446

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    The Port Authority’s counter-proposal is centered on shielding itself from more financial commitments while still building out the site’s infrastructure and filling the hole that was ground zero. If it had backed financing on multiple towers, the agency would have needed to cancel, delay or substantially stretch out its other major projects, which include airport improvements and $3 billion toward a rail tunnel under the Hudson River.
    Eff the PA's $3 billion rail tunnel.... can't they Finish one project before starting a new one!
    I mean if you know you don't even have the money to finish one of these projects- why keep adding new ones
    to the bill?
    I would much rather see something finished (pick a project) at the expense of others, than to keep having all these never ending projects- NEVER get finished...

  7. #4447
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    Seems that they want to put the carriage before the horse.

    They got too many irons in the fire now, and they need to takes care of these before venturing into unchartered waters.

    If the economy is so bad and construction projects are being severely curtailed, then where is this money supposed to come from for this new-found rail tunnel work to begin?
    Last edited by Daquan13; April 15th, 2009 at 01:56 PM.

  8. #4448

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    Let sleeping dogs lie.

  9. #4449
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    WTC Detractors cry "Save the Stumps"

    Jun 15, 2022 2:19 PM EDT

    By BOB SODUKU
    Associated Press Writer


    New York - Perhaps it was destined to be this way. 15 years after work began at the World Trade Center site, Larry Silverstein was finally granted permission to build his two signature towers upon the much beloved stumps on Greenwich Street across from the National 9/11 Memorial.

    "This has been my dream to finally finish the work at the Trade Center that started so long ago" said Silverstein who celebrated his 91st birthday last month.

    But not all New Yorkers want to see the two towers erected above such fashionable retail outlets such as Wal-Mart and Target. A civic group who call themselves "Friends of the Stump" (FOTS) have lobbied Governor Schumer and the PA to leave the iconic stumps as they are.

    "We love the stumps." said Margie Fenderton, chief member of FOTS. "Building these towers would only take away from what we have here. Ever since we lost the struggle last year to preserve the final 3 floors of the Duetsche Bank Building, we knew that we could not lose this battle."

    Margie refers to the PA's deconstruction of the remaining vestiges of 130 Liberty St. After a decade and a half of false starts, the final column was pulled out of the sub basement this spring. It literally took an act of Congress to allow for the removal of this landmark edifice. Originally planned to house a vehicular ramp to the Memorial with a soaring skyscraper above, 130 Liberty St will now be the address of a new IKEA warehouse store scheduled to open in 2025.

  10. #4450

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    well written! I had been seriously thinking of hosting my 50th birthday celebration at the top of 1WTC (was 36 when 9-11 hit us), but even that is now looking in serious doubt if the buildings are all so interconnected as reported.

  11. #4451
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    Quote Originally Posted by scumonkey View Post
    Eff the PA's $3 billion rail tunnel.... can't they Finish one project before starting a new one!
    I mean if you know you don't even have the money to finish one of these projects- why keep adding new ones
    to the bill?
    I would much rather see something finished (pick a project) at the expense of others, than to keep having all these never ending projects- NEVER get finished...
    the economy is so bad and construction projects are being severely curtailed, then where is this money supposed to come from for this new-found rail tunnel work to begin?
    So the Port Authority who's sole existence is to provide resources and infrastructure for the transportation of people, goods and services between the State of New York and the State of New Jersey is supposed to drop their committed support for improving trans Hudson rail capacity but instead build some office buildings no one wants to rent?..

    The Port Authority was forced to deviate from their core mission when they were forced to build the World Trade Center by former New York Governor Rockefeller, now they should deviate again by taking the hundreds of millions in tolls generated by commuters driving between New Jersey and New York each year and instead of reinvesting that money back into the trans-Hudson infrastructure should instead subsidize office buildings that don't have any chance of landing any large tennents anytime soon.

    I think the Port Authority should get out of the real estate business and focus on Trans-Hudson commerce which is their charter, the problem is there is no one else who could or would take on the World Trade Center redevelopment in the midst of the worst economic crisis since the GReat Depression.

    The Hudson rail tunnels should take priority over everything at the World Trade Center save the Memorial and transit hub, if there are no commitments for the new office space don't build the buildings.

  12. #4452
    Forum Veteran Daquan13's Avatar
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    The commitment in last two or three years was to rebuild Ground Zero.

  13. #4453
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    The commitment in last two or three years was to rebuild Ground Zero.
    The new Hudson rail tunnels is about to receive the Federal Funding commitment, it's also getting part of the economic stimulus. New Jersey has approved $2.5-3 Billion towards their share.

    Besides the Port Authority who's putting their money where their mouth is with the World Trade Center, certainly not Trump for that guy's bloviating. What about the City, State?..

  14. #4454
    Forum Veteran Daquan13's Avatar
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    Doesn't matter. I think that the World Trade Center should come first.

  15. #4455
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    Unfortunately, the Port Authority is not a private enterprise. The money they are putting up belongs to our state & NJ.

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