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. #4606

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    So what is likely to happen to 200 Greenwich and 175 Greenwich? I like the way those two building look, so I hope they get built.

  2. #4607
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    NY Times
    June 9, 2009

    Little Progress Is Seen in Talks on Ground Zero

    By CHARLES V. BAGLI

    The Port Authority of New York and New Jersey and the developer Larry Silverstein remain deadlocked over construction of two giant office towers at ground zero, despite more than two weeks of high-level talks with state and city officials aimed at resolving the impasse.

    Mayor Michael R. Bloomberg, who convened the sessions on May 21, had set a June 11 deadline for the parties to reach an agreement. But the talks have not brought Mr. Silverstein and the Port Authority any closer, according to officials on both sides.

    The latest indication of the stalemate came on Monday, as a proposal from the city and Mr. Silverstein got a lukewarm reception, according to officials who attended the discussion.

    The battle is not over whether the office towers should be built at the World Trade Center site, but when and with whose money.

    Mr. Silverstein, who leases the trade center land from the Port Authority, is to build three office towers on the 16-acre site. Unable to obtain the financing or tenants as he once anticipated, Mr. Silverstein has asked the authority to guarantee as much as $3.2 billion in financing for the construction of two of the three towers.

    But the authority, which is already spending billions on its own 2.6-million-square-foot office tower at the site, a transit hub, and on portions of the 9/11 memorial, is reluctant to put more money into speculative office space, especially when its revenues are declining sharply. It did, however, offer to guarantee up to $1.2 billion in financing for one of Mr. Silverstein’s towers.

    “We remain far apart on a second tower because of how much more public money is required to fund this speculative office building,” said Stephen Sigmund, a Port Authority spokesman. “Our position continues to be that the public’s resources are better spent on public projects first, not more private office space.”

    All parties in the talks have been loath to discuss the meetings since agreeing to negotiate in private at a May 21 meeting at Gracie Mansion. Some officials privately acknowledge the lack of progress, even as Sheldon Silver, the Assembly speaker, disputed the notion. “He believes that all the parties continue to act in good faith and are committed to coming up with a solution,” said Dan Weiller, a spokesman for Mr. Silver.

    City officials hope for a breakthrough in the hours leading up to Thursday’s deadline.

    Last month, the Port Authority made a proposal in which it agreed to guarantee the financing for Mr. Silverstein’s first tower. As for the second, $2.7 billion tower, it agreed to assist with the financing if Mr. Silverstein spent the next two years trying to find tenants for half the space, and invested $370 million of his own money as well as $430 million in insurance proceeds. In an effort to share the risks, the authority also asked the city to cover any shortfalls.

    But Mr. Silverstein flatly refused to consider it.

    Under his proposal, Mr. Silverstein would assume responsibility for much of the work at ground zero, with the developer claiming that he could save as much as $400 million on the authority’s current budget for the projects. The developer, who has not offered to guarantee those savings, said in a meeting Monday that he would invest $75 million. The arrangement would allow him to make an estimated $120 million in fees.

    The city, in turn, has offered to cover up to $100 million in shortfalls in the financing, and has suggested that New York and New Jersey do the same. But the bulk of the financial responsibility for financing the towers would remain with the Port Authority. And neither Gov. David A. Paterson of New York nor Gov. Jon S. Corzine of New Jersey has wanted to invest more money in office space, given the condition of their state budgets.

  3. #4608

    Default Meanwhile:

    Billions paid to KBR Inc.

    KBR Inc., the primary LOGCAP contractor in Iraq, has been paid nearly $32 billion since 2001. The commission says billions of dollars of that amount ended up wasted due to poorly defined work orders, inadequate oversight and contractor inefficiencies.


    Cost of War in Iraq
    $676,570,403,836

  4. #4609
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    “We remain far apart on a second tower because of how much more public money is required to fund this speculative office building,” said Stephen Sigmund, a Port Authority spokesman. “Our position continues to be that the public’s resources are better spent on public projects first, not more private office space.”
    This is where the Port Authority is in the right, why keep pouring Billions of Public money that is coming from commuters paying tolls on the Six NYC-NJ crossings or the millions of people who fly into and out of EWR, JFK and LGA into a private developers speculative real estate developments.

    All that public money would be better spent investing in the airports, or building the Cross Harbor freight tunnel. The general public will never even be allowed to step foot in any of these office towers (save One World Trade Center's observation deck), but Larry wants Billions of the publics money anyway.

  5. #4610

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    I hate to say it but I agree. Public money shouldn't be used for the towers.

  6. #4611

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    so just surround the Calatrava Hub building with a nice green open park.

  7. #4612
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    I'm good for that.

  8. #4613
    Disgruntled Optimist lofter1's Avatar
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    Best idea ^ yet. Then transfer the air rights from 2 & # WTC to the Deutsche site and the BMCC site.

  9. #4614
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    Quote Originally Posted by lofter1 View Post
    Best idea ^ yet. Then transfer the air rights from 2 & # WTC to the Deutsche site and the BMCC site.
    That's actually a good idea, the Deutsche site is currently without a plan. Of the designs for 200 Greenwich Street and 175 Greenwich Street I liked 175 Greenwich Street's the best, I think it would look great on the former Deutsche bank site.

    My question is what is the BMCC , is that the Borough of Manhattan Community College?.. If so what site are we talking about?..

  10. #4615
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    Trade the two 5-storey retail stubs for a non-income generating park? Snap out of it everyone.

  11. #4616

    Talking

    It would be a park for the taxpayers who pay taxes and for the toll-payers who pay tolls and the path commuters who pay fares.

  12. #4617
    Disgruntled Optimist lofter1's Avatar
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    Quote Originally Posted by STT757 View Post

    ... what is the BMCC , is that the Borough of Manhattan Community College?
    Fiterman Hall site, just NE of 7WTC and facing onto the site of the proposed PAC.

  13. #4618
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    NY Times
    June 12, 2009

    Ground Zero Talks Still Stalled

    By CHARLES V. BAGLI

    Mayor Michael R. Bloomberg’s deadline passed Thursday without a breakthrough in the impasse at ground zero between the Port Authority of New York and New Jersey and the developer Larry Silverstein over construction of office towers on the site.

    Mr. Bloomberg, who had set a June 11 deadline for the parties to reach an agreement, issued a statement on Thursday afternoon saying that talks would continue through the weekend. The city and Mr. Silverstein made a proposal earlier this week, but the two sides remained at odds.

    “Governor Paterson, Governor Corzine, Speaker Silver and I spoke today, and — together with Larry Silverstein and the Port Authority — we agreed to extend the conversation through the weekend,” Mr. Bloomberg said in a statement, adding, “We’ll have another update on Monday.”

    Last month, Mr. Bloomberg convened a high-level meeting of state officials from New York and New Jersey, as well as executives from the Port Authority and Silverstein Properties, all of whom pledged to quickly reach a compromise.

    Mr. Silverstein has asked the authority to guarantee the financing for two of the three towers he is to build at the World Trade Center site — as much as $3.2 billion — because he is unable to obtain tenants and loans for the project.

    The authority, which is building a skyscraper of its own at the site, is reluctant to pour more money into speculative commercial buildings when vacancy rates are rising downtown. The authority has offered to assist Mr. Silverstein with one tower. He has insisted that construction should proceed on at least two towers so that they will be ready when the economy rebounds.

  14. #4619
    Senior Member DMAG's Avatar
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    Isn't Tower 1 (FT) just as speculative as any other tower being built on the site? It seems that the PA may be afraid that Larry will get all the prospective tenants in Tower 2 leaving the Tower 1 empty.

    Then Westfield comes in, checkbook open offering to pay for the retail stubs. Tell me some sweetheart deal is not going on behind the scenes between them and the PA for that offering.

  15. #4620

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    If you're going to view the PA as a real-estate developer...

    The PA owns and will operate 1WTC. They're responsible for financing and getting tenants.

    Let's say you owned it. Would you underwrite financing for a competitor to build across the street while you're trying to fill your own building?

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