"The original completion dates are just not going to be met,"Christopher Ward, the Port Authority's executive director, told hisaudience at Tuesday's breakfast meeting sponsored by theDowntown-Lower Manhattan Association. Until 15 fundamental issuesraised in yesterday's report are resolved, he said, "coming up withanother set of dates would not be appropriate."
Ward cited the enormity and complexity of the rebuilding—whichthe authority is overseeing—currently under way on 16 acres atGround Zero. It includes five skyscrapers, with three beingdeveloped by Silverstein Properties; the Fulton Street TransitCenter, now projected to cost $1 billion more than originallyestimated; a new PATH station; a WTC memorial; an extensive retailcomponent; and a vehicle screening area.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
