agreement

In a ruling announced yesterday, Silverstein was denied a request for insurance companies to pay his legal fees in relation to litigation regarding the WTC site. A Silverstein spokesperson says that while they are disappointed in the decision and think it's wrong, it will have no impact on the WTC rebuilding effort.

The 1,776-ft tower will include approximately 2.6-million sf of office space, plus observation decks, restaurants and broadcast and antennae facilities. Below-grade shopping will be available as well as access to the New Jersey PATH and NYC subway. Workers are in the process of creating foundation footings for the Freedom Tower. Overseen by Tishman Construction, the contractor, Laquila Group Inc., is preparing to excavate rock prior to constructing the tower foundations, which will consist of concrete spread footings on rock, rock anchors and mini-caissons.

"The start of construction serves as a symbol of hope and a show of true progress," says Silverstein. Tishman Construction, then under the direction of John Tishman, built the original Twin Towers, as well as the original 7 World Trade Center. Under the leadership of his son, Dan Tishman, the company built the new 7 World Trade Center.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.