News
STRIKE THAT: NO STOPPING ONE WTC
August 10, 2011
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| Despite last week’s three-day concrete strike, One World Trade Center’s construction still chugs along at one floor per week (now 76 stories), we heard from Mintz Levin NY real estate chair and Port Authority commissioner Jeff Moerdler during his second visit to the NYS Society of CPAs last week. But the site development hasn’t been without wrinkles, and Jeff credits Port Authority exec director Chris Ward for ironing them out. For instance, builders had to navigate the tracks of the 1 train running through the middle of the site without interrupting service or dislocating the tracks by more than two inches (they did so with half an inch to spare). But it’s clear that One WTC, developed by the Port Authority, will cost more than it's worth after lease-up because of the unprecedented level of infrastructure and security, Jeff tells us. |
