Although the P.A.'s assessment team did attempt to correlate each project at the site with a completion date and cost, the agency found at least 15 fundamental issues critical to the overall project had not yet been resolved. The P.A., which owns the 16-acre World Trade Center site, says in its report to Gov. Paterson that if it were to forecast completion dates and costs before those issues have been resolved, it would set more commitments and expectations that are unrealistic.
One example the P.A. noted was that until the agency completes the final design of the WTC Transportation Hub, it cannot predict a completion date or total cost, nor can it predict other projects linked to and dependent on the Hub. The Port Authority also pointed to the Vehicle Security Center, which is dependent partly upon the decontamination and deconstruction of the former Deutsche Bank building. As GlobeSt.com previously reported, a source from the Lower Manhattan Development Corp., the state agency that owns the building at 130 Liberty St. and is in charge of demolition, says the building is on track for its scheduled demolition for the end of this year.
The P.A. also pointed to the need to establish a more efficient, centralized decision-making structure—a steering committee—with authority to make final decisions on matters "which fundamentally drive schedule and cost." The agency also noted that the previous schedule and cost estimates were established before construction had begun and before an adequate analysis was completed as to staging and logistics. It noted that those estimates did not reflect the unprecedented challenges associated with a project this complex and a project involving so many different public and private stakeholders.
Gov. Paterson praises the P.A. for preparing an honest report about the current schedules and cost estimates for the project. "For the first time we have a candid, honest analysis of where the rebuilding effort stands and we have a roadmap for getting us on track," he says in a prepared statement."
He continues that "progress has been made--Ground Zero has gone from a standstill to a busy construction site but the rebuilding effort is not where it should be and it is not where we promised it would be. I am not interested in assigning blame," he continues, "instead, I am interested in fixing the problem so we can move forward."
Gov. Paterson asked the P.A. to provide him with a set of real schedules and budgets by Sept. 30. "I believe that the victims' families deserve a memorial that is equal to the sacrifice and heroism displayed on that day and I believe that the City of New York deserves a reinvigorated site that secures our position as the economic capital of the world. We have a profound responsibility to the families, survivors and everyday Americans who come to the World Trade Center site to mourn and remember. We will fulfill that responsibility by finishing this project and we will tell the truth every step of the way."
The site's construction progress report is as follows: The Freedom Tower is now rising above street level; excavation and construction for the foundations for Towers 2, 3 and 4 and associated retail are well underway; the foundations and footings for the Memorial and Museum are nearing completion, with steel slated to arrive soon; and the foundation work of the WTC Transportation Hub has begun while the temporary North Access for the PATH Station has already been completed.
The P.A. said that the next phase of this assessment process will be to establish a new decision-making structure to assist in working through the 15-plus issues that have yet to be resolved, and make decisions and reach resolutions on each. Once those issues have resolutions, the P.A. intends to give Gov. Paterson more clear and achievable timelines
Larry Silverstein, president of Silverstein Properties Inc., developer of Towers 2, 3, and 4, says in a prepared statement that his company's projects are fully designed and on schedule. "Construction of Towers 3 and 4 is underway, and all three buildings are slated for completion, as projected, by the end of 2012. As demonstrated by the success of 7 World Trade Center, as well as other recent developments in the area, Downtown is energized like never before. It is vital that we maintain that momentum and finish the rebuilding."
The P.A. also revealed Monday that China Center New York LLC has leased approximately 190,000 sf in One World Trade Center, the Freedom Tower. China Center will lease the space on parts of the 64th floor, and the entire 65th through 69th floors, and approximately 5,000 sf of storage space. The agreement calls for a lease of approximately 23 years from the time the tower opens. The China Center will have the right to lease two additional contiguous floors at the same terms no later than June 30, 2009.
The China Center will pay rents for its office space that begin at $80 per sf and escalate every five years. The tower's 500,000-sf subgrade area is nearly complete. It involved the installation of approximately 22,000 cubic yards of concrete and more than 1,000 tons of steel.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
