And the 1 WTC winner is … Durst

New York /
Jul.July 08, 2010 08:30 AM

Douglas Durst and 1 WTC

The Durst Organization has won the bidding for a stake in One World Trade Center, beating out Stephen Ross and his Related Companies for the chance to invest in the planned 1,776-foot-tall tower,
the Observer reported. The board of the Port Authority of New York
& New Jersey, which is building the tower, came to the decision at
a meeting yesterday, pending a 30-day negotiation period during which a
contract will be drafted. Durst, which is expected to invest about $100
million in the project, was once a staunch critic of the tower, having
publicly chided it as “the legacy of poor planning and decision-making
by the Pataki administration.” But Durst’s pitch was ultimately the
more traditional of the two finalists: Related’s proposal
included amenities like fitness centers, similar to those of the
company’s Time Warner Center in Columbus Circle. In a statement, Durst
president Jody Durst called the rebuilding of the World Trade Center
Site “perhaps, the most complex building project ever undertaken,”
adding, “the building is a symbol of New York’s resilience and strength
and we have tremendous confidence in its future success.” Ross
expressed disappointment following the announcement: “While we are
disappointed and thought we offered a great vision for this iconic
destination development and Lower Manhattan we wish the Port Authority
and their new partner well,” he said in a statement. [NYO]

 

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