The Port Authority of New York and New Jersey’s failure to agree to a loan guarantee for World Trade Center site developer Larry Silverstein shows agency leaders are wrestling over its direction as they seek to fix the dysfunction exposed by the George Washington Bridge scandal.
Developer Larry Silverstein will seek private funding for the construction of lower Manhattan’s 3 World Trade Center as the Port Authority of New York and New Jersey backs away from providing a loan guarantee, a person with knowledge of his plans said.
Real estate developer Larry Silverstein can’t seek $3.5 billion from airlines whose planes were hijacked by terrorists and flown into the World Trade Center’s twin towers on Sept. 11, 2001, a judge ruled.
Larry Silverstein’s World Trade Center Properties LLC is set to find out today if it’s entitled to seek $3.5 billion from airlines whose jets were seized by terrorists and flown into the twin towers on Sept. 11, 2001.
The Port Authority of New York and New Jersey postponed a vote on a proposal for a $1.2 billion loan guarantee that would help developer Larry Silverstein build 3 World Trade Center in lower Manhattan.
The first skyscraper at lower Manhattan’s World Trade Center is set to open with two days of ceremonies to mark the renewal of the area after its destruction by terrorists. When the fanfare subsides, the task will be filling the 40 percent of the tower that’s empty.