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Silverstein Says Yes to Port Authority's Deal
By
Jen Chung
Published Apr 25, 2006
Modified Mar 7, 2008
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By
Jen Chung
Published Apr 25, 2006
Modified Mar 7, 2008
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Wow, this is the happiest we've ever seen World Trade Center leaseholder Larry Silverstein, pictured here with Silverstein Properties vice president Janno Lieber, after announcing that he will accept the Port Authority's deal (ultimatum) over the development of Ground Zero. (Usually, in photographs, you can tell he's not the happiest camper.) There are still a couple "logistical issues" for Silverstein and the Port Authority to work out, but he has agreed to the recent proposal of (1) giving the Port Authority control of Freedom Tower - though Silverstein gets to build it; (2) control of three additional buildings along Church Street, (3) building a mall (co-designed with the PA) with an opportunity to buy the mall later, and (4) taking a lower developer's fee.
Silverstein said, "This is not about profits. This is about moving the rebuilding forward as quickly as possible in order to revitalize the city's historic downtown." Profits, schmofits - it's about egos, really. Anyway, he must be relieved that now he will be less vilified and that Pataki can be left to take the fall for any mess-ups.
Photograph from the AP
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Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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