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Saturday, November 23, 2024  
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WTC developer seeks government financial aid: Wall Street Journal

WTC developer seeks government financial aid:Wall Street JournalThe private developer redeveloping the World Trade Center site in New York City has asked the government for financial assistance, the Wall Street Journal reported on Saturday. Quoting people familiar with the matter, the Journal said.
The Port Authority of New York and New Jersey, the government body that owns the site, is considering whether to help finance at least one of the three office towers planned in the project.
Sources said developer Larry Silverstein has sought financial help with at least two of the towers. Silverstein declined to comment, the Journal said. Reconstruction of the 16-acre (6.5 hectare) site destroyed in the September 11 attacks has been plagued by controversy and delays. The plan calls for five skyscrapers, a memorial, a transit hub, a shopping mall and a performing arts center, much of which was expected to open between 2011 and 2013.

Copyright Reuters, 2009