Tag Archives: 4 world trade center

Slated World Trade Center Graphic

4 World Trade Center Site May Be Delayed

Slated World Trade Center Graphic
Proposed World Trade Center Site (Courtesy: Renewnyc.com)

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?

John Galt Corporation Deutsche Bank Contractor

Contractor Investigated in Deutsche Bank Fire Lands Ground Zero Gig

John Galt Corporation Deutsche Bank Contractor
Do we really want former John Galt Corp. players working on 4 World Trade Center?

Regional Scaffolding and Hoisting Company, a contractor that was the focus of a criminal investigation into a 2007 fire at the Deutsche Bank building that resulted in the death of two firefighters (AND that remains under scrutiny for financial irregularities), is set to return to Ground Zero to work on the office tower at 4 World Trade Center.

According to The New York Times, documents filed with the city show that Regional Scaffolding was issued a permit two weeks ago to install a construction elevator at 4 WTC. And, yes, that means exactly what you think: A company being eyed for criminal negligence and fiscal shadiness has been rewarded with a prime gig at the office tower developer Larry A. Silverstein is constructing at the World Trade Center site.

Continue reading Contractor Investigated in Deutsche Bank Fire Lands Ground Zero Gig