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Old February 10th, 2010, 12:03 AM   #761
Onn
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Originally Posted by spectre000 View Post
Boy this is getting blown way out of proportion. 4WTC is going to be BUILT. They are only stopping at the 4th floor until financing is in place. After they have the money, the rest of the tower will be built.
They would not have started building if they knew they were going to have to stop work at some point. That dosen't make any sense!

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Silverstein asked for the PA to backstop the funding for 2 and 4WTC during the recent arbitration. The PA counter offered to backstop all of 4WTC and part of 2WTC. 2WTC's financing was dependent on Silverstein finding $700-800 million in the private markets. That's impossible right now, and Silverstein balked at the proposal. Either Silverstein and the PA find the middle ground themselves within the next 45 days, or the Arbitration panel will.
I'm not sure 4WTC was any part of that deal, I'm pretty sure the port was already paying some of it. A packaged deal like that wouldn't make sense either.
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Old February 10th, 2010, 12:27 AM   #762
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They probably started it thinking they would eventually get the financing at some point. Which they will. Buildings go thru starts and stops all the time. It's not that big of a deal. 1WTC started and stopped. Now everything is going smoothly.



Here are some quotes from an article re: arbitration decision.

"Mr. Silverstein has been trying to get the Port Authority to back financing on two of his towers, saying that the Port owes it to him as a form of compensation for its significant delays at the site. The Port Authority has resisted, saying the money would come at the sacrifice of transportation projects, and it has offered a plan to finance one tower, or a portion of the costs for two (Mr. Silverstein has said the two-tower offer is unfinancable)."


http://www.observer.com/2010/real-es...ays-make-peace

Last edited by spectre000; February 10th, 2010 at 12:39 AM.
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Old February 10th, 2010, 12:57 AM   #763
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i'm pretty sure 4WTC is going to be built to its full size, eventually. the troubles are with 2 and 3WTC... only rumors about them, still no reliable news at all. i guess we'll have to wait till the final results of the current arbitration come out.
the arbitration results already came out week ago sigh...
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Old February 10th, 2010, 01:15 AM   #764
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The facts are that 4WTC is not fully financed. So if construction doesn't halt at the 4th floor it'll be some other floor. Having said that, the PA and Silverstein are in the middle of the 45 day re-negotiation window. So hopefully some deal will be made.
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Old February 10th, 2010, 01:19 AM   #765
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Originally Posted by spectre000 View Post
Here are some quotes from an article re: arbitration decision.

"Mr. Silverstein has been trying to get the Port Authority to back financing on two of his towers, saying that the Port owes it to him as a form of compensation for its significant delays at the site. The Port Authority has resisted, saying the money would come at the sacrifice of transportation projects, and it has offered a plan to finance one tower, or a portion of the costs for two (Mr. Silverstein has said the two-tower offer is unfinancable)."


http://www.observer.com/2010/real-es...ays-make-peace
What does that have to do with 4WTC?
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Old February 10th, 2010, 01:20 AM   #766
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The facts are that 4WTC is not fully financed. So if construction doesn't halt at the 4th floor it'll be some other floor. Having said that, the PA and Silverstein are in the middle of the 45 day re-negotiation window. So hopefully some deal will be made.
There is no evidence to suggest that!
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Old February 10th, 2010, 01:23 AM   #767
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There is no evidence to suggest that!
Then why is Silverstein asking the PA to finance it????
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Old February 10th, 2010, 01:25 AM   #768
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Then why is Silverstein asking the PA to finance it????
I think that had more to do with 2WTC, the quote did not mention 4WTC at all. In fact, they could have been talking about 3WTC!
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Old February 10th, 2010, 01:28 AM   #769
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I think that had more to do with 2WTC, the quote did not mention 4WTC at all. In fact, they could have been talking about 3WTC!
It wasn't. Their are numerous other articles. SP was seeking financing for 2 and 4WTC. They've given up on 3WTC. Google it.

I'm done. You've worn me out.
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Old February 10th, 2010, 01:30 AM   #770
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It wasn't. Their are numerous other articles. SP was seeking financing for 2 and 4WTC. They've given up on 3WTC. Google it.

I'm done. You've worn me out.
Well we'll see what happens when they get to the fourth floor.
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Old February 10th, 2010, 01:31 AM   #771
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You are insufferable Onn. I used to think your ignorance was funny, now it's just annoying.
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Old February 10th, 2010, 01:33 AM   #772
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You are insufferable Onn. I used to think your ignorance was funny, now it's just annoying.
It's not annoying, I have read no evidence to suggest 4WTC is stopping on the 4th floor! NONE!
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Old February 10th, 2010, 01:58 AM   #773
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Onn, perhaps you've noticed, but there have been countless towers around the world that have started and then stopped, aka ON HOLD. What makes you think this is an impossible fate for 4WTC?

anyway, I've heard from several people that 4WTC is paid for, but I do recall hearing that rumor about it stopping on the 4th floor. We'll find out soon.
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Old February 10th, 2010, 02:15 AM   #774
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Onn, perhaps you've noticed, but there have been countless towers around the world that have started and then stopped, aka ON HOLD. What makes you think this is an impossible fate for 4WTC?

anyway, I've heard from several people that 4WTC is paid for, but I do recall hearing that rumor about it stopping on the 4th floor. We'll find out soon.
There have been COUNTLESS SKYSCRAPERS (not supertalls!) that have started above ground construction and been put on hold recently? Really, that's news to me.

And wait a second! You just called me out and then you go on to say the tower’s been paid for? Make up your mind.
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Old February 10th, 2010, 02:17 AM   #775
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Let's all just chill out with a new picture from today by Zoe, SSP.

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Old February 10th, 2010, 05:09 AM   #776
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Quote:
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There have been COUNTLESS SKYSCRAPERS (not supertalls!) that have started above ground construction and been put on hold recently? Really, that's news to me.

And wait a second! You just called me out and then you go on to say the tower’s been paid for? Make up your mind.
I never called you out about anything, calm down.
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Old February 10th, 2010, 06:00 AM   #777
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February 9th, 2010

image hosted on flickr
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Old February 10th, 2010, 01:10 PM   #778
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the arbitration results already came out week ago sigh...
nah, i mean the 40 days or so they (PA and SP) got to resovle the problem... it was a bit late when i posted that.
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Old February 11th, 2010, 10:32 PM   #779
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Editorial from The Villager.

"A Deal to be made"


http://www.thevillager.com/villager_354/editorial.html

"In today’s credit market, clearly, Silverstein can’t put much more in on the front end than he has already offered. But as we have said previously, he could offer the Port Authority a lot more on the back end. Silverstein had offered the agency about 30 percent ownership in Towers 2 and 4 in exchange for backstopping loans. That may not be enough but it is a substantial offer and the Port Authority should embrace the negotiations on this track. There is no feasible way to develop the sites without Silverstein, so the Port Authority should start thinking about a percentage that would provide itself and the public enough of a return to justify the loan guarantees."
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Old February 11th, 2010, 10:55 PM   #780
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what the hell did Silvertein do with his loan? He's paid for one building, tower 7. PA paying for tower1. Silver got tower 4 going quick but its slowed down, like a 30 year old running back. But it is winter things could pick up in the spring, now we just have to sit back and wait.
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