That's funny! It got a laugh out of me.
I was bored.
That's funny! It got a laugh out of me.
Young man, you get down from there this instant.
Having been on one of those plane rides around manhattan i cant recommend them enough it will open up what you imagined manhattan was and show you its HUGE!
WTC Work Moves Forward With Foundation Contracts
UPDATE By Melissa Kress
NEW YORK CITY-Yonkers Contracting Co. gets the nod from Silverstein Properties to build the foundations for World Trade Center Towers 3 and 4. read more >
Port Authority Races To Avoid Ground Zero Penalties
By GRACE RAUH
November 21, 2007
To avoid penalties of $300,000 a day, the Port Authority of New York and New Jersey is racing to finish work on the east side of the former World Trade Center site by the end of the year. Real estate industry experts are skeptical it will be able to meet the January 1 deadline.
Following the redevelopment agreement struck in April 2006, the Port Authority, which owns the property, is in charge of excavating and building slurry walls along the eastern portion of the site to prepare it for the construction of three large office towers being developed by Silverstein Properties. If the Port Authority does not finish the work by the end of the year, it will have to pay $300,000 each day to Silverstein Properties, which leased the World Trade Center site six weeks before it collapsed.
Construction workers for the Port Authority are now working 10-hour shifts to prepare the site, with two shifts of workers Monday through Saturday. Some additional work also is taking place on Sundays, but not at the same level as the rest of the week, a spokesman for the Port Authority, Steven Coleman, said
The president of the Real Estate Board of New York, Steven Spinola, said the Port Authority is working "extremely hard."
"There is a shot they will make the deadline," he said in a recent interview.
Another downtown development official said it is "unlikely" the Port Authority, a bi-state agency controlled by appointees of the governors of New York and New Jersey, would prepare the site before deadline.
Mr. Coleman wrote in an e-mail message that the Port Authority's "plan remains to deliver the site on December 31."
The developer, Larry Silverstein, yesterday announced that his company had hired the Yonkers Contracting Company to build the foundations for the two office towers, a move that could put more pressure on the Port Authority. In a news release, Silverstein Properties said it expects to begin work on January 2, and a spokesman for the company said the company had received no indication that the work would be delayed.
The first of the two office buildings to be built along Church Street, known as Tower 2, is designed by architect Fumihiko Maki, and the city has a tentative deal to lease 600,000 square feet of office space from the developer. The second tower to be built, known as Tower 3, is designed by Lord Richard Rogers and is slated to rise about 1,050 feet and contain about 2 million square feet of office space. Both are scheduled for completion in 2011.
The World Trade Center project director for the Silverstein Properties, Janno Lieber, said in a statement that the company would keep to a tight schedule as it begins construction.
"As we have seen from the market, New York's economy urgently needs new first-class office space in order to retain jobs and maintain a competitive edge in the global economy," he said.
Obviously some errors in there
^Yes, T2 doesn't start until June.
The delays involve more than just excavation, which itself is slowed by separating the unearthed and demolished components to be recycled. There is still a lot of work to be done on the new slurry wall's tiebacks, and that may be what is left to be finished come Jan. 1.
A Silverstein quote from a previous article suggests an agressive schedule, hopefully no setbacks by the PA. I trust Silversteins ability to get things built fast considering how fast he threw 7 up there.
Spitzer Goes to Bat for Silverstein, Vies to Keep Merrill Downtown
by Eliot Brown
Published: November 20, 2007
With its lease at Brookfield Properties’ World Financial Center set to expire in 2013, Merrill Lynch is eyeing a move of its headquarters to one of three locations in Manhattan.
But as Merrill weighs its options, Governor Eliot Spitzer has stepped in to coordinate a bid by developer Larry Silverstein and the Port Authority to have the bank move to Mr. Silverstein’s planned Tower 3 at the World Trade Center site. The governor’s maneuvers have dropped hundreds of millions from the cost to Merrill of moving its headquarters there.
Just four weeks ago, Merrill’s location decision seemed to be a foregone conclusion, people involved in the discussions say, with company executives set to recommend to their governing board that the firm move to the site of the Hotel Pennsylvania in midtown, owned by Steven Roth’s Vornado Realty Trust.
But since, the landscape has changed markedly.
Just as the board meeting was approaching, Governor Spitzer brought forward a proposal for Merrill to go into World Trade Center Tower 3; it was hundreds of millions less than what Mr. Silverstein and the Port Authority initially proposed, people in the discussions say. The substantial price cut came as a result of Governor Spitzer injecting himself into the process to mediate an impasse between Lower Manhattan’s perennially bickering couple: Mr. Silverstein and the Port Authority of New York and New Jersey, owner of the World Trade Center site.
At the same time, Merrill announced it faced $7.9 billion in write-downs, postponing the headquarters decision as CEO Stanley O’Neal departed. Many involved in the discussions say they believe Mr. O’Neal had a very strong hand in the firm’s location decision.
Messrs. Roth and Silverstein as well as Brookfield CEO Ric Clark have patiently sat around, waiting on Merrill. In a conference call with investors late last month, Mr. Clark described the state of talks as suspended, a state that people involved in the discussions say has mostly continued.
“If we were having this call two weeks ago, we probably would have reported that it was very highly unlikely that Merrill would remain at the World Financial Center,” Mr. Clark said. “Today, under the circumstances—well, I guess the best way to put it is to say that we have no clue.”
For months, the Bloomberg and Spitzer administrations, perhaps daunted by the specter of Merrill’s 2.5 million square feet becoming available at the same time as the World Trade Center towers open just across the street, have been urging Merrill to choose either Brookfield or Silverstein Properties.
However, Governor Spitzer felt a need to put his stamp on the Silverstein bid, motivated by the fat in the original bid by the Port Authority and Mr. Silverstein, including infrastructure costs and other expenses, according to one person involved in discussions.
“The governor made sure there was a single unified joint proposal,” said Avi Schick, the Spitzer-appointed chairman of the Lower Manhattan Development Corporation. “We think it’s a fair offer downtown, it’s an attractive offer; it’s more than competitive.”
In the past few days, State Assembly Speaker Sheldon Silver has met with new Merrill CEO John Thain about keeping the bank downtown, according to Mr. Silver’s spokesman.
The cost to Merrill for the Hotel Pennsylvania site could be as much as $4 billion, people familiar with the plans say; the downtown bids are about $1 billion cheaper.
While Mr. Thain surveys the situation, the bank does not have that much time to dawdle, as a move to a soaring tower at the Hotel Pennsylvania would require years to approve and then build. The skyscraper, built on the half-block hotel site, would be about three million square feet, according to people involved in discussions.
In a brief interview with The Observer on Sunday, Mr. Roth, the Vornado CEO, said the building would be built solely atop the Hotel Pennsylvania, not invading the neighboring Manhattan Mall, which Vornado also owns. Mr. Roth confirmed the tower would be independent of the redevelopment of Pennsylvania Station, meaning Vornado would not seek a transfer of the needed air rights from Madison Square Garden but would rather need to gain approval through the city’s public review process.
Copyright 2007 The New York Observer.
It's interesting to me that Spitzer started pushing for this so recently, when it's been public knowledge for months, maybe longer than a year, that Merrill had to make a decision about new office space soon. I wonder if it has anything to do with the fact that during his days as attorney general, Spitzer investigated and sued Dick Grasso, the one-time CEO of the NYSE who was succeeded by John Thain, who just so happens to be the brand new CEO of Merrill. Apparently, Thain has worked for/advised Spitzer at some point or another during his crusade to strengthen regulations for Wall Street. And, of course, Merrill was one of the many I-banks that were sued by Spitzer several years ago for misleading investors.
Last edited by pianoman11686; November 22nd, 2007 at 12:56 AM.
good to hear that things are going smoothly now for the WTC site.
NOVEMBER 25, 2007
In just over a month, the mighty Towers 3, and 4 will rise, summoned from
the pit known as ground zero...
Yonkers may be " no stranger" to the WTC but they certainly are to NYC foundation work.