Tribeca building’s use of 9/11 bonds questioned

Some of the 274 rent-stabilized apartments at Tribeca Green, built by the Related Companies with $110 million in federal Liberty Bonds, are reportedly being marketed as hotel suites for nearly double the stabilized rents, or $335 a night. Congress created the $8 billion Liberty Bonds program to help rebuild Lower Manhattan after 9/11, with $800 million of the tax-exempt bonds allotted to build rental apartments. But a corporate housing provider at the building has been accused of increasing rents by more than the allowed 10 percent.