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The Ground Zero Deal
April 26th, 2006

Larry Silverstein, and the governments of the city, the state and New Jersey may have reached common ground on moving ahead at Ground Zero, but many observers predict that the feuding isn’t over.

The News can barely contain itself over what it sees as a setback for Silverstein, headlining a news story on the deal: Larry blinks & WTC’s a go. But given what it sees as the developers twists and turns, the paper counsels Mayor Bloomberg, Governor Pataki and other officials to remain united, fulfill all their commitments and be prepared for the hard bargaining that is sure to come.

The Post, though, sees Silverstein as the wronged party. Yesterday’s deal is not a great one for the developer, the paper says, as he called Patakis bluff and accepted an agreement the Post sees as an attempt to strip Silverstein of his legal rights and force him from the project. So now, the paper asks, Will Bloomberg, Pataki and [New Jersey Governor] Corzine move forward in good faith – or will they once more move the goal posts?

And in a column in the paper, Nicole Gelinas of the Manhattan Institute shares that skepticism. Silverstein has legitimate concerns about the arrangement, she says. Will the Port Authority accept Silverstein’s concerns in good faith, she asks. Or will the agency bureaucrats, accompanied by Bloomberg and Pataki, start railing again for the media’s benefit about how unreasonable Silverstein is?

Bloomberg also expressed doubts — though his were aimed at Silverstein, the Real Estate reports. Silverstein “apparently gave a speech today saying that that’s what he would do and that’s great,” the mayor said, adding, The one thing we cannot do, and will not allow to have happen, is you agree in concept and then try to nickel and dime and go on forever.”

But whatever happens next, Gothamist says, Silverstein must now be relieved that now he will be less vilified and that Pataki can be left to take the fall for any mess-ups.

By on April 26, 2006, 8:02 am
In category: Gotham City,Land Use,Public Finance | 1 Comment »

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One Response to “The Ground Zero Deal”

  1. Insider Real Estate » Defense department seeks secrecy stamp  Says:
    May 11th, 2006 at 7:10 pm

    [...] THIS SITE Spot a published piece that would fit this blog? Let us know about it, at blog@gothamgazette.com Larry Silverstein, and the governments of the city, the state and New Jersey may have reached common ground on moving ahead at Ground Zero, but many observers predict that the feuding isnt over. [...]

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