Silverstein, Port Authority near WTC deadline

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.