October 26th - October 30th, 2009

PA approved funds for Memorial

October 26 –  The Board of the Port Authority last week approved $140 million to be spent on the final design and construction of the street and sidewalk finishes, trees, paving and streetscape furniture for Liberty Park. The park will run the length of Liberty Street between Church and West Streets and will be adjacent to the Memorial. According to Curbed.com, the Port took the action to make certain the streetscape that will lead people to the Memorial is finished in time for the opening.

Sales of units at 333 Rector Place remain on hold

October 26 - The sales office at the building remains closed, despite earlier promises that it would reopen by the end of September. The Battery Park City Broadsheet Daily reports the developer is negotiating with lenders and investors to lower the asking price for the apartments, but pending sales can’t close and buyers can’t move in until fifteen percent of the 174 empty units have been sold.

Peter Minuit Plaza scope to be scaled back

October 27 – The Peter Minuit outdoor plaza of the South Ferry station is going to be scaled down. The New York Post reports the MTA Jay Walder announced at a public hearing, he will reduce the scope of the project to save $2 million, because “there is no more money.” Walder said the changes won’t be severe; some MTA board members are concerned the smaller plaza will cause riders to line up to get into the station.

The City takes action against stalled construction sites

October 27 –  Developers are being put on notice – the City passed a new law affecting approximately 540 stalled construction sites throughout the five boros. Real Estate Weekly reports developers would be allowed to renew their building permits for up to four years, if they meet a long list of safety requirements while the site remains dormant. Buildings Commissioner Robert LiMandri said, “Property owners have a responsibility to maintain their job sites in a safe manner, regardless of whether construction is ongoing or stalled.”

Larry Silverstein pushes for development at the WTC site

October 29 –  The developer was one of several panelists at a RealShare New York event, focused on the peaks and troughs of the real estate industry. Silverstein said when the WTC site is complete, it will “change the dynamic of the area totally and for the better,” doing for Downtown what Rockefeller Center did for Midtown in the 1930’s. Commenting on progress at the site, Silverstein said, “It is, at the moment, years behind schedule.”

USS New York to Salute WTC Site

October 29 – The ship, which is made of 7.5 tons of steel from the WTC site, left Norfolk, Virginia today and is expected to dock in at Pier 88 on Monday, according to The Daily News. The amphibious transport ship has a crew of 360, many of whom are from New York. The ship will stop at Ground Zero around 8 am for a 21 gun salute, then dock next to the Intrepid and be commissioned November 7^th.

The Downtown Express sits with Larry Silverstein

October 30 - The developer told the paper he fears that without him, the WTC site will never get built. “Every time there’s a change of executive, there’s a change of agenda. It wreaks havoc with everything you’re trying to accomplish if you’re trying to hold a specific timeframe.” As for the Port Authority, Silverstein said, “The people who are there today don’t have the experience, don’t have the ability, don’t have the comprehension of what it takes, the need for timely decisions.” The arbitration panel has been hearing testimony for the past two weeks.

Vesey Street elevator to be out of service for months

October 30 –The State Department of Transportation announced it will take at least three months before the elevator is fixed. Downtown Express reported the parts to repair the elevator will take several weeks to manufacture and ship from Germany.  The elevator has been out of service for the past month and a half.