April 26th - April 30th, 2010
P.A. chief Ward calls WTC rebuilding a construction project
April 28 -- Port Authority Executive Director Chris Ward told the audience at the Crains New York Business Breakfast that early efforts to rebuild the WTC site got lost amid politics and rhetoric. Now he says the work is moving ahead, because its being treated as a construction project: At the end of the day, this is a construction project and we have to treat it that way. Ward also used the event to praise Larry Silverstein for pouring foundations for two of his buildings, even though the two sides havent finalized the deal they worked out last month.
Moving closer to a development partner at 1 WTC
April 28 -- P.A. chief Chris Ward said he hopes to announce by June which of the four companies under consideration will be chosen. A New York Post article claims Hines is about to drop out, leaving developers Durst, Related and Boston in the running. Meanwhile, Boston Properties told The Wall Street Journal it would limit its investment in the tower to less than 4 percent of the $3 billion total cost.
Challenge erupts over $150 million in unused funds at LMDC
April 28 -- Con Ed told Community Board 1 that $150 million in LMDC funds cannot be used for the Performing Arts Center because it has been allocated by the federal government to repay Con Ed customers for work done in the aftermath of September 11th. According to The Battery Park City Broadsheet, CB1 Chair Julie Menin disagreed, saying LMDC has paid millions to Con Ed and Verizon through HUD funds. Con Ed added if the funds are withheld, customers might be subjected to a rate increase.
Vandalism of a downtown mural
April 28 -- Police are looking for suspects in the slashing of the new mural outside the Whitehall Ferry Terminal, according to DNAINFO.com. The mural was once destined for the WTC site. The 400-foot-long Beyond the Garden Wall mural had only been installed outside South Ferry Terminal a week ago; it depicts a green hedge with several NYC landmarks.
Boston Properties inches closer to a deal at 1 WTC
April 30 -- The agreement would have Boston buying a $120 million stake in the $3 billion tower, according to The Real Deal. Boston is competing for the leasing and management of the property with two other major commercial investment companies, Durst and Related.