Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Five months of negotiations between Silverstein Properties Inc. and the Port Authority of New York and New Jersey have culminated in a plan to provide SPI with up to $1.6 billion in public financing on the developer’s World Trade Center towers. The deal was ratified Thursday at a meeting of the Port’s board of commissioners.

Originally announced in broad outline on March 25, the agreement was to be hammered out during a 120-day period of negotiations between SPI and the Port. The late-July timeframe to complete negotiations came and went without an agreement being ratified, a delay that led to published reports speculating on whether the deal would be announced before the ninth anniversary of 9/11.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.