The World Trade Center site defies the current climate and is one of the hottest pieces of real estate in New York City, but the construction of 4 World Trade Center, which is a part of the project, maybe be put on ice due to bond issues. Developer Larry Silverstein is set to issue a $1.3 billion bond package to finance the continued construction of 4 World Trade Center, which is a 64-story office tower at the site’s southeast corner.
4 WTC is set to open in 2013, a date that may or may not be in jeopardy due to fluctuation in the municipal bond markets and the fact that Silverstein and the Port Authority may delay issuing those bonds as a result of market conditions.
“Silverstein Properties and the Port Authority have elected to temporarily delay pricing of the Liberty Bonds,” the developer’s statement said. “It is better to wait until the bond market has stabilized to the point that our Liberty Bonds could be priced based on the strength of our project and the high credit ratings it has received, rather than on the external factors now roiling the markets.”
Translation: They are waiting and seeing.
Will the former site of the Twin Towers ever be fully finished?
Artisan and filmmaker Marcus Robinson, a native of Ireland, has been documenting the World Trade Center site rebuild through his â€œRebuilding the World Trade Centerâ€ installation, which is a series of artistic works, ranging from paintings to drawings to short films. Robinson purposely chose to create a body of work that could not be restrained by language and cultural barriers and therefore elected to demonstrate the events that took place on the site. Robinson has self-funded his project, with some financial help from Silverstein Properties.
DNAInfo reports that Robinson, 51, moved to TriBeCa to be closer to the site. “It’s about the passing of time and the whole idea of transformation,” he said. He began working on the project in 2006, when the first foundation at One World Trade Center was laid down.
To date, the project hosts 40 paintings and 70 drawings and is only scratching the surface of its potential. Robinson hopes to one day craft a film that combines video footage of the events along with his artwork, juxtaposing the physical world with the envisioned one. He wonâ€™t show his work or release a film until construction on the site is finished, which will take years. Robinson, however, is committed to seeing this project through to completion at all costs.
Robinson, who has a background in architectural photography and documentary filmmaking, works on his paintings at the World Trade Center site itself, as well as on the 48th floor of 7 World Trade Center, which has spectacular views of the harbor and Midtown. He captures the workers as they do their thing and placed time-lapse cameras around the site. His work is abstract, capturing shapes and colors as opposed to concrete imagery.
Are you interested in seeing the end result of Robinson’s work?
As companies are looking for newer office that can accomdate their high-tech needs and growing environmental efforts, Larry A. Silverstein, chief executive officer of Silverstein Properties Inc., sees two of his new office buildings at Ground Zero the logical choice.
According to Bloomberg Business Week, “some 235 tenants have moved from midtown to downtown” since 2005. As newer buildings are constructed with high-tech and green accomdations in mind, it seems many more tenants might be moving into the neighborhood.
Conde Nast is one of those potential tenants, looking to lease a sizable amount of office space at 1 World Trade.
As we remember what happened to our community and nation as a whole in the past, we look forward to the future of our neighborhood. Through the stunning renditions offered by Silverstein Properties, we are offered a glimpse into what our neighborhood will be when the World Trade Center site is completed.