Search
 

Brisk Cleanup Prompts WTC Development, Financing Debate

NEW YORK CITY-With cleanup operations at the World Trade Center site proceeding at a faster-than-expected pace, Manhattan finance, planning and government leaders are revising their plans for the area accordingly.

By Michael Gilliard | Updated on January 23, 2002

NEW YORK CITY-With the cleanup of the World Trade Center site progressing far ahead of schedule, the New York Bond Market Association met last week to discuss Downtown financing and redevelopment concerns.

Panel members warned against leaning too heavily on the recently formed Lower Manhattan Redevelopment Corp. Giving the city/state partnership too free a rein in the Downtown redevelopment process would ultimately backfire, stifling private sector growth and conflicting with Midtown interests, the group claimed. “We cannot invest this area with incentives surpassing Midtown to the point of assuming a position where we impose our vision upon New York City as a whole,” said Steve Malanga, senior fellow with the Manhattan Institute. “We must ensure the Lower Manhattan Development Corp. does not become a small government.”

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?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

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

Copyright © 2024 ALM Global, LLC. All Rights Reserved.