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UPDATE: Silverstein Submits New WTC Proposal

NEW YORK CITY-Without releasing much of the details, WTC leaseholder Larry Silverstein submits a new proposal for the World Trade Center site. The Port Authority counters, but the two parties have not returned to the bargaining table as of yet.

By Barbara Jarvie | Updated on March 19, 2006

NEW YORK CITY-World Trade Center leaseholder Larry Silverstein submitted a new proposal for the redevelopment of the World Trade Center. The Port Authority of New York and New Jersey, which owns the site, answered with a counter proposal. Talks between the pair broke down last Tuesday night .

“Everyone on the Silverstein team stands ready to roll up our sleeves and get the job done,” said Silverstein in a statement. “I’m a builder and a New Yorker, and I believe, like all New Yorkers do, the sooner we get this done the better.” After the Port Authority’s counter proposal was issued, he added that he hoped it meant “that they are also prepared to return to the table without further needless delay.” Detailed information on the proposals was not released.

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