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Old May 24th, 2007, 10:28 PM   #1101
kurakura
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progress is slow.......hopefully it will shoot up soon
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Old May 24th, 2007, 10:52 PM   #1102
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Ive never seen a building that took so long to build. Maybe because of its massiveness
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Old May 24th, 2007, 11:02 PM   #1103
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How much longer till the core begins to rise?
still some months i think
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Old May 24th, 2007, 11:11 PM   #1104
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still some months i think

Then why did they erect the tower cranes so early if its not going to rise anytime soon?
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Old May 26th, 2007, 04:58 AM   #1105
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http://www.nytimes.com/2007/05/24/ny.../24insure.html
Insurers Agree to Pay Billions at Ground Zero

By CHARLES V. BAGLI
Published: May 24, 2007


James Estrin/The New York Times
Announcing the deal were, from left, Albert M. Rosenblatt, a retired judge; Gov. Eliot Spitzer; Anthony E. Shorris, Port Authority executive director; and Larry A. Silverstein, the developer.


The Spitzer administration announced the settlement of all insurance claims at ground zero yesterday, ensuring that $4.55 billion will be available for rebuilding the World Trade Center site.

The agreement, which the insurers described as the largest single insurance settlement ever undertaken by the industry, ended a protracted legal battle with insurers over payouts related to the terrorist attack.

New York State and Port Authority officials said yesterday that the deal removed any uncertainty over how much money would be available for rebuilding and would enable them to obtain private financing for the $9 billion project.

Officials had worried that the insurance dispute might drag on for years, eating up millions of dollars in lawyers’ fees and potentially delaying reconstruction. The settlement is the culmination of a two-month campaign by the state insurance superintendent, Eric R. Dinallo, and involved meetings in Geneva, Paris and Delaware.

The agreement was reached with seven of the two dozen insurers for the trade center who had not already settled — Allianz Global Risks, Travelers Companies, Zurich American, Swiss Re, Employers Insurance, Industrial Risk Insurers and Royal Indemnity. They agreed to pay a total of $2 billion. The other insurers had already made good on their claims and paid about $2.55 billion.

In recent weeks, Gov. Eliot Spitzer joined the negotiations with the seven companies, which lasted until the early morning yesterday.

“The unsettled insurance claims were the last major barrier to rebuilding and have been bitterly and intensely contested for almost six years,” Governor Spitzer said in an interview. “This means we can now fund construction, access the financial markets and move on to what should be our primary focus: rebuilding.”

Business leaders downtown, who have been frustrated by the legal and political wrangling and years of delays, were elated by the news.

“The downtown business community is pleased with the efforts of the governor and the insurance superintendent in removing the remaining uncertainty over the financing of the World Trade Center site,” said Eric J. Deutsch, president of the Alliance for Downtown New York. “In conjunction with a strong office market, the settlement will ensure success.”

All the parties to yesterday’s settlement signed confidentiality agreements barring them from saying how much each insurance company would pay.

The insurance money is critical to the rebuilding effort, but it can cover only about half of the $9 billion cost of building five towers, retail space and possibly a hotel.

“The train is now moving down the tracks,” said Larry A. Silverstein, the 76-year-old developer who had leased the World Trade Center complex six weeks before the Sept. 11 attack.

The Port Authority of New York and New Jersey, which owns the land at ground zero and built the trade center, will get about $870 million from yesterday’s settlement, which is to go toward the cost of erecting the $3 billion Freedom Tower, the tallest and most symbolic skyscraper planned for ground zero, as well as the retail space at the complex.

Mr. Silverstein will get the remaining $1.13 billion for three large office towers to be built along Church Street, between Vesey and Liberty Streets.

As part of the deal, the Port Authority and Mr. Silverstein had to relinquish their claim that the companies owed more than $500 million in interest resulting from delays in making the payments. The insurers, in turn, abandoned their claim that they did not owe the money until the project was completed, in 2012.

Despite the insurance dispute, there has been some activity at the 16-acre trade center site. Hundreds of construction workers are laboring on the Port Authority’s $2 billion PATH train station and the foundation of the Freedom Tower. The authority expects to turn over the eastern portion of the site to Mr. Silverstein at the end of this year so that he can begin building. He completed a nearby tower, 7 World Trade Center, last year.

“Look how far we’ve come in the last year,” Mr. Silverstein said yesterday. “A year ago today, we opened 7 World Trade Center, a huge success and a validation of downtown as a world-class business district. We’ve started construction on the Freedom Tower. We reached an agreement on who would build what and when. And now we have the resources to rebuild as quickly and spectacularly as possible.”

Mr. Spitzer said the agreement, which ends all the litigation, was a collaborative effort on the part of many officials who had lost “patience with the ongoing fighting that didn’t serve the public interest or the effort to rebuild.”

Officials and real estate executives involved in the negotiations said they had asked the administration of Governor Spitzer’s predecessor, George E. Pataki, to have the state’s insurance superintendent become involved in the settlement effort, but that it never happened. That changed in late March when Mr. Spitzer’s superintendent, Mr. Dinallo, convened a meeting of the insurers, the Port Authority and the developer to prod them into a settlement.

Mr. Dinallo was working in tandem with Albert M. Rosenblatt, a retired judge who was overseeing an arbitration proceeding in the case.

Andreas Shell, claims crisis coordinator for Allianz, said at a news conference that it was the largest insurance settlement in industry history and that his company was “extremely happy with the result.”

The insurance battle has been complicated from the start by the circumstances of Mr. Silverstein’s lease of the trade center and the destruction of the complex by terrorists six weeks later. At that time, two dozen insurers had signed binders pledging to provide $3.5 billion in insurance coverage, but had not finished the documents.

An ugly dispute developed over which insurance policy was in effect at the time of the attack. Mr. Silverstein argued that since two jetliners had slammed into the two towers, he was entitled to a double payment on the $3.5 billion policy. But many of the insurers countered that they had agreed to a different policy that did not permit double claims.

In the sparring, the insurers attempted to paint Mr. Silverstein as a rapacious developer interested only in profiteering, while he asserted that the companies were being tight-fisted and shirking their moral and legal responsibilities.

At the end of two lengthy trials in 2004, a federal court found that the insurers owed a maximum of $4.6 billion, less than the $7 billion that Mr. Silverstein originally claimed but more than the $3.5 billion limit of the policy. Ever since, state, city and Port Authority officials have called on the insurance companies to make their payments in full.

Mr. Spitzer thanked 14 politicians yesterday for their help, including Senators Charles E. Schumer and Hillary Rodham Clinton. In a statement, Mayor Michael R. Bloomberg commended the governor and Mr. Silverstein for the settlement.
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Old May 26th, 2007, 08:25 AM   #1106
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That's great news!

I hope the developer, Larry A. Silverstein will still alive to see his project to get built and able to enjoy it.
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Old May 30th, 2007, 06:23 PM   #1107
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the slow progress is frustrating!
the new 200m Goldman-Sachs-Tower (right west of ground zero) has reached its 8th floor above ground... u cannot tell me they can do a 200m-tower foundation and 10 floors in less than half the time the freedom-tower will need to reach street-level... there must be slow progress because of all the bureaucracy, politics and money! hopefully now it will move faster-silverstein got his money from the insurance...
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Old May 31st, 2007, 09:25 AM   #1108
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I was downtown today and was very pleasantly surprised by the level of people down there. Pedestrian traffic on the streets surrounding Ground Zero is finally starting to look like it did pre 9/11. Recent reports regarding vacancy rates in Lower Manhattan support my observations, but it was really great to see downtown so busy again. Once ther WTC is reconstructed there will be no stopping this place.
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Old May 31st, 2007, 09:29 AM   #1109
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Better a little progress than none, thanks for the updates.
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Old June 1st, 2007, 01:36 AM   #1110
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Quote:
Originally Posted by -POLLUX- View Post
the slow progress is frustrating!
the new 200m Goldman-Sachs-Tower (right west of ground zero) has reached its 8th floor above ground... u cannot tell me they can do a 200m-tower foundation and 10 floors in less than half the time the freedom-tower will need to reach street-level... there must be slow progress because of all the bureaucracy, politics and money! hopefully now it will move faster-silverstein got his money from the insurance...
Goldman Sachs started way earlier than the WTC. The foundation for GS also took well over a year.
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Old June 1st, 2007, 01:40 AM   #1111
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Some months to wait...
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Old June 1st, 2007, 01:52 AM   #1112
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It's amazing how incredibly fast GS went up. After over a year of basically nothing, we saw some steel, and now, all of a sudden, out of no where, we have almost 10 floors now and it's rising almost too fast to keep track of. No matter what anyone says, 1WTC will be like that in a few months.
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Old June 1st, 2007, 02:00 AM   #1113
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Quote:
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It's amazing how incredibly fast GS went up. After over a year of basically nothing, we saw some steel, and now, all of a sudden, out of no where, we have almost 10 floors now and it's rising almost too fast to keep track of. No matter what anyone says, 1WTC will be like that in a few months.
10 floors? I thought I counted 7. but yea once the 1wtc comes out of the basement it will begin to rise.
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Old June 1st, 2007, 02:10 AM   #1114
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East Bathtub Construction Ahead of Schedule

Today from

http://www.lowermanhattan.info/news/...ead_74846.aspx

and

http://www.curbed.com/archives/2007/...ad_of_sked.php


East Bathtub Construction Ahead of Schedule

Port Authority crews are making steady progress building the World Trade Center site's east bathtub. Finishing two weeks ahead of schedule, crews have now completed installation of the new slurry wall at the southeast section of the bathtub (along Liberty and Church Streets up to Cortlandt Street). Workers are now mobilizing at the northeast corner of the bathtub, where 30 steel-and-concrete slurry wall panels will be installed over the next several months.

Construction of the east bathtub is part of the foundation preparation needed for towers two, three, and four to be built.

Can't understand why everyone in this forum is so impatient with the building of the Freedom Tower and The WTC site in general.

Can't you understand that NYC is unlike any other city and this project is unlike any other project EVER.

You cannot begin to understand the amount of infrastructure that is being built into the foundation for this building, included is multiple subway lines.

BE PATIENT
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Old June 1st, 2007, 04:46 AM   #1115
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2001 - 2007 = 6 years, thats a lot of time wasting right there
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Old June 1st, 2007, 04:53 AM   #1116
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Quote:
Originally Posted by Landaus60 View Post

Can't you understand that NYC is unlike any other city and this project is unlike any other project EVER.
How is it unlike any project ever? I'm not trying to be a jerk, just wondering what you mean since you didn't elaborate apart from "lots of infrastructure".

Thanks.
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Old June 1st, 2007, 06:35 AM   #1117
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Originally Posted by rogerick1970 View Post
Then why did they erect the tower cranes so early if its not going to rise anytime soon?
It costs thousands of dollars a day to use tower cranes. Obviously, they need the cranes otherwise they wouldn't erect them.
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Old June 1st, 2007, 04:21 PM   #1118
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Storms991 and Hollie Maea

Quote:
2001 - 2007 = 6 years, thats a lot of time wasting right there
and to address Hollie Maea also.
Are you kidding? Time wasting? Just to do a little history refresher , a 'small' attack occured at this site not 50 years ago, not 20 years ago not even 10 years ago. It's been 6 1/2 years! For gosh sakes they were still finding body parts in the area as of late 2006! You could make the argument that family members had made that it really is a graveyard and nothing should be built there.
On top of all that the Deutsche Bank building , a pretty significant sized building, still has to be torn down.

How can anyone not understand how different this site is from any other building site there ever was and that there ever will be in the U.S.?
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Old June 1st, 2007, 05:02 PM   #1119
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Quote:
Originally Posted by Landaus60 View Post
and to address Hollie Maea also.
Are you kidding? Time wasting? Just to do a little history refresher , a 'small' attack occured at this site not 50 years ago, not 20 years ago not even 10 years ago. It's been 6 1/2 years! For gosh sakes they were still finding body parts in the area as of late 2006! You could make the argument that family members had made that it really is a graveyard and nothing should be built there.
On top of all that the Deutsche Bank building , a pretty significant sized building, still has to be torn down.

How can anyone not understand how different this site is from any other building site there ever was and that there ever will be in the U.S.?
We always have the apologists. 6.5 years is a VERY long time, even to clean up the site etc. It's a matter of priority, and how much money and manpower you are willing to spend to clean up and build. It's also about willing to compromise on development, usage and design. If we had a federal bill that would have given as much money to the rebuilding of the site as they have given to the victim's families, there would have been a LOT more progress.
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Old June 1st, 2007, 05:26 PM   #1120
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great news, i'm really excited so the that complex rising
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