Silverstein charges forward with WTC

October 01, 2008 09:52AM

Despite the direction of market conditions, developer Larry
Silverstein wants to move forward with all of the World Trade Center
Towers as planned, though the site’s timetables may change after its
owner, the Port Authority of New York and New Jersey, releases an
updated progress report tomorrow. Silverstein’s current schedule
includes delivering all three towers by 2012. If the Port Authority
forces Silverstein to delay any work it would likely be at Tower 2, the
only one which has not broken ground yet. Delays could also cause the
agency to lower the $88 million-per-year rent it is charging
Silverstein for the land.

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