The priorities of the Port Authority of New York and New Jersey are likely to shift under its upcoming change of leadership and as the agency is undertaking a review of its  $25 billion, 10-year budget for capital projects, the Wall Street Journal reported.

Earlier this week, Christopher Ward, executive director of the Port Authority, announced that he would be resigning next month. Governor Andrew Cuomo will be leading the process to find his replacement.

“What we need to do is look at all the projects that are on the drawing board, those that are in the pipeline, those that are ready to go, those that are going and decide about priorities and timing and sequencing, and that’s part of this process,” David Samson, chairman of the Port Authority, said. “Everything is on the table.” [more]

The Port Authority of New York & New Jersey has come to a preliminary deal with mall operator the Westfield Group to bring retail to the World Trade Center site, according to the Wall Street Journal. Terms of the agreement, which would see Westfield contribute $612.5 million toward construction costs for 365,000 square feet of retail space in return for a 50 percent stake in the development, are still being finalized.

If the deal goes ahead, retail would be spread throughout the complex, with some stores lining multiple levels of the large, open transit hub. The lower floors of office towers along Greenwich Street would be stores and restaurants, and some would overlook the memorial, which is currently under construction.
The complex has a target opening date of 2015. [more]

Developer Larry
Silverstein and the Port Authority of New York and New Jersey are
supposed to come to an agreement on the World Trade Center
redevelopment today. Sources familiar with the talks said the two
parties are not close to a deal, and a spokesperson for Mayor Michael
Bloomberg said they are continuing negotiations. Shopping mall
developer Westfield, which operated almost 500,000 square feet of
retail in the World Trade Center before Sept. 11, 2001, offered this
week to put up $1.3 billion to build the two retail pedestal buildings
that the Port Authority wants to build in place of two office towers.
The Port Authority said the office towers could be built on top of the
retail pedestals when the economy recovers, but Silverstein has
previously resisted building the retail spaces.