Disputes and design send WTC transit hub costs soaring

Insiders say conflicting agendas have contributed to billions in budget overruns

TRD New York /
Sep.September 04, 2014 11:00 AM

The cost of the Santiago Calatrava-designed transit hub at the World Trade Center has skyrocketed not just because of its complex construction, but due to conflicts among the various stakeholders involved in building the downtown PATH station.

When all is said and done, the spiny PATH station at the center of Silverstein Properties’ 16-acre World Trade Center complex will have likely cost between $3.7 and $4 billion, the Wall Street Journal reported. That makes it the most expensive train station in the U.S. An investigation by the newspaper shows that disagreements regarding the construction timeline, poor communication among agencies and conflicting goals contributed to the price tag, which is more than double the amount originally budgeted.

“Did you need to build the $3.7 billion transportation hub to achieve the meaningfulness of the World Trade Center redevelopment?” Scott Rechler, vice chairman of the Port Authority, asked the Journal. “In hindsight, I don’t know if I would have come to that conclusion.”

As an example, the Journal points to former Mayor Michael Bloomberg’s insistence that the World Trade Center memorial plaza be finished on the 10th anniversary of the terror attacks that felled the twin towers. Completing the memorial before parts of the transit hub were done complicated subterranean construction, according to the newspaper. The project, scheduled to be completed in 2015, currently lags eight years behind schedule. [WSJ]Tom DiChristopher


Related Articles

arrow_forward_ios
The total market value of all properties in New York City was at about $1.4 trillion (Credit: iStock)

Market value of NYC real estate went up at slowest rate in years

Market value of NYC real estate went up at slowest rate in years
Santiago Calatrava with the Constitution Bridge in Venice and the Oculus (Credit: Getty Images)

It’s not just the leaking Oculus: Santiago Calatrava hit with suit over Venice bridge

It’s not just the leaking Oculus: Santiago Calatrava hit with suit over Venice bridge
LMDC and the Port Authority will each appraise the site independently (Credit: REX and CityRealty)

Final 5 WTC site to hit the market following lengthy dispute between agencies

Final 5 WTC site to hit the market following lengthy dispute between agencies
Attorney General Letitia James and World Trade Center under construction (Credit: Getty Images)

Ex-Cushman & Wakefield manager charged in WTC bribery scheme

Ex-Cushman & Wakefield manager charged in WTC bribery scheme
John Catsimatidis, St. Nicholas Greek Orthodox National Shrine and Andrew Cuomo (Credit: Getty)

Cuomo seeks donors to finance long-stalled shrine at WTC

Cuomo seeks donors to finance long-stalled shrine at WTC
Over a decade later, WTC redevelopment players talk lessons, political tensions

Over a decade later, WTC redevelopment players talk lessons, political tensions

Over a decade later, WTC redevelopment players talk lessons, political tensions
How Larry Silverstein hustled to rebuild the World Trade Center

How Larry Silverstein hustled to rebuild the World Trade Center

How Larry Silverstein hustled to rebuild the World Trade Center
Duane Reade is suing over WTC retail space it still can’t use

Duane Reade is suing over WTC retail space it still can’t use

Duane Reade is suing over WTC retail space it still can’t use
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...