NEW YORK CITY-The Port Authority of New York and New Jersey is delaying its decision on a financial partner in its 1 World Trade Center, the New York Post reports. The list of candidates, once comprising as many as six leading owner/developers, has been winnowed down to the Related Cos. and the Durst Organization.
According to the Post, the Port was to announce its decision at its monthly board meeting on Tuesday, but will now put it off until at least the next monthly meeting, scheduled for July 29. Whether it’s Related or Durst, the winning developer will put up about $100 million in exchange for leasing and management control at the 1,776-foot office tower now under construction at Ground Zero.
The Post says the Port would not say why the decision was being pushed back. However, despite statements by the authority’s leadership saying they expected to decide this month, a source told the Post that the June 22 date was “a goal and a hope, but never a deadline.” Click here for the complete article.
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