March 15th - March 18th, 2010

Still no agreement between the Port Authority and Larry Silverstein

March 15 – The Friday deadline came and went with no deal to move the rebuilding at the WTC forward. The Wall Street Journal reported both sides told the arbitration panel that they have been unable to settle their dispute over how to finance all of the towers. It’s unclear if the panel will step in to resolve the impasse or grant an extension.

Another report warns of a glut in commercial space in FiDi

March 15 – Even though the vacancy rate in Lower Manhattan is at 9.6% now, it could soar to 20% in the next few years as 7 million square feet of office space comes online. That is the forecast in the latest study by Cushman and Wakefield. Reported by Crain’s, the study says Downtown could face tough competition from Midtown, unless there are tax breaks. The story also says with several financial giants making more space available at the time that the WTC is being built, plentiful options could drive rents down and push up the overall vacancy rate.

Some lawmakers say the $575 million settlement for 9-11 workers is not enough

March 15 – Congresspeople Carolyn Maloney and Anthony Weiner say the federal government should provide permanent health care for 9-11 workers. Both said last week’s nearly $600 million settlement to pay a one-time lump sum payment to those who became ill is insufficient to ‘deal with all the health problems we have.” The $11 billion James Zadroga 9-11 Act, which they said would provide long term care, is up for a vote in the House tomorrow.

A new study blames heart problems on the WTC cleanup

March 15 – The Fraternal Order of Police of New York State says its study shows police officers who worked on ‘the pile’ after 9-11 have unusually high occurrences of heart problems. This is the first study linking cardiovascular problems to exposure to debris at the WTC site. CNN  reports the study shows officers in their 40’s with ventricular functioning problems that affect people in their 80’s.

A fire damages 140 Broadway

March 17 – It took firefighters five hours to put out a fire in the basement of the building, which according to The Battery Park City Broadsheet, destroyed the building’s main electrical feeds. Eight firefighters were hurt. Officials say the fire was sparked by the Nor’easter which flooded the basement and caused an explosion. A building spokesman said they are working to restore normal operations.

A law firm renews its lease at One Broadway

March 17 – Kenyon & Kenyon signed a deal to continue occupying the entire 12 story building, according to The New York Post. The 10 year lease covers nearly 200,000 square feet, with prices starting in the high $30’s and going up to the $40 range over the life of the lease.

The Zadroga 9/11 health bill is okayed by a House subcommittee

March 17 – The bill will provide long term health care and compensation to thousands of workers and residents who became ill after 9-11. A report on NY1 said several NYC politicians are pushing for the bill as a supplement to the city’s $575 million settlement with 10,000 9-11 cleanup workers.

A not guilty plea in 9-11 vandalism

March 18 – 26 year old Brian Schroeder, a Harvard Law School graduate, was in court facing charges that he set a fire which damaged a 9-11 memorial at 30^th street and First Avenue. His attorney told The New York Post, Schroeder was extremely drunk at the time. The fire was set last November at Memorial Park, which houses artifacts and human remains.