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March 22, 2009

World Trade Center Developer Wants Financial Bailout

The developer of the three towers site at Ground Zero in New York has asked for a bailout, according to American press reports. In a desperate bid to complete the long-stalled towers, Larry Silverstein has requested cash from the Port Authority for at least two of the three planned offic

By cms admin

The developer of the three towers site at Ground Zero in New York has asked for a bailout, according to American press reports.

In a desperate bid to complete the long-stalled towers, Larry Silverstein has requested cash from the Port Authority for at least two of the three planned office towers, writes The Wall Street Journal.

The Port Authority, which owns the site, might ask Silverstein for some of the profit from the buildings should they become moneymakers in the future, says the report.

The bulk of the sprawling complex, which includes five skyscrapers, a memorial, transit station, shopping mall and a performing arts centre, was scheduled to open between 2011 and 2013.

By staff writer.

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