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Ear to the Ground

The Earth Shifts a Tad at Ground Zero

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Posted on Apr 26, 2006
Larry Silverstein
From the N.Y. Times.

World Trade Center leaseholder Larry Silverstein

New York State officials complete a deal with World Trade Center leaseholder Larry Silverstein that will break the development logjam that has plagued the site for almost five years.
Why Gov. Pataki didn’t invoke eminent domain here a long time ago is a mystery to us.


N.Y. Times:

The developer Larry A. Silverstein announced yesterday that he had accepted the economic terms of a new deal at ground zero. The proposal reduces his overall role on the 16-acre site and clears the way for construction of the Freedom Tower, the tallest and most symbolically important of five towers planned for the site.

The deal calls for Mr. Silverstein to surrender control of the $2 billion Freedom Tower, along with more than one third of the ground zero site, to the Port Authority of New York and New Jersey. But he would retain the right to build three office towers on the most valuable parcels there.

Mr. Silverstein’s announcement came six days after officials from the Pataki, Corzine and Bloomberg administrations presented the developer with a unified, take-it-or-leave-it offer in an attempt to end four months of frustrating and politically embarrassing struggle over the future of the World Trade Center site.

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—Posted by Blair Golson.

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If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

By JerryJ, April 27, 2006 at 10:23 am Link to this comment
(Unregistered commenter)

Thats why BUSH is pushing so hard for the tax to be repealed.  Big interest money that I am sure helps funds his campaign and put gas in his car.

The rich have gotten much richer while the average man has suffered during the Bush administration.

The cost of living increased higher than any growth in the economy so our money is going less further.  Wake up people!!  Impeach the GEEK.

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