In a case of stark urban contrast, the toxic structure stood in the immediate shadow of the modern, bustling David Childs-designed new 7 World Trade, replete with its futuristic light animation that changes as the day passes from morning to night. But over the past few months and weeks, passers by in Lower Manhattan saw less and less of Fiterman Hall as Tishman Construction worked with Waldorf Demolition to bring the building down. According to a BMCC spokesperson, the building will be completely gone by Thanksgiving.

Reacting to Fiterman Hall's disappearance, Larry Silverstein, CEO of Silverstein Properties Inc., which developed the new 7 World Trade, tells GlobeSt.com that "While it was a long time coming, it is gratifying that after eight years, Fiterman Hall is no longer a blight on Downtown."

But south of Ground Zero, another casualty of the falling towers, the 26 remaining floors of the former Deutsche Bank building at 130 Liberty St. still stand like a morbid shrine to the tragedy eight years ago. Like Ftterman Hall, infestation of mold and WTC dust presented unforeseen challenges to the demolition process. Work finally resumed on the deconstruction project Nov. 10 after lengthy delays.

Over the past couple of days, "cranes have been moving containers and everything down," a spokesman for the Lower Manhattan Development Corp. tells GlobeSt.com

In 2004, the LMDC acquired the ruins of the 1974-era building. Later, the LMDC awarded Bovis Lend Lease a $75-million contract to clean and dismantle the toxic site. Bovis served as general contractor on the project, overseeing an arrangement that led to the hiring of subcontractor John Galt Corp. After an investigation of a fatal fire in 2007, it was determined that Galt had never actually done the kind of work required by the 130 Liberty project, and the subcontractor was subsequently fired and now faces legal actions.

Meanwhile, as it now stands, a spokesperson at the LMDC says the agency has allocated $275 million to take down 130 Liberty. However, he's quick to point out that much of that money may come back after litigation stemming from the fatal August 2007 blaze.

As for how long the deconstruction of the site will take, the LMDC is reluctant to say. "We've started a new way of deconstructing the building, using different means and methods, and we don't have a timetable at this time, because we're waiting to complete a couple of floors before we put out a schedule," says the LMDC spokesperson.

LVI/Mazzocchi Wrecking Inc., is the new subcontractor, while Bovis is still overseeing the work.

Back on the northern side of Ground Zero, a new Fiterman Hall is in the works. The architect for the new building is Pei, Cobb Freed.

Funding for the decontamination, deconstruction and rebuilding of the site is coming from the New York State and City budgets, the LMDC, the September 11 fund and a property insurance settlement. As of November 2008, the remaining costs of the total project total $325 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • 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.