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Old June 29th, 2012, 11:01 PM   #2041
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Quote:
Originally Posted by Chibears85 View Post
Im sorry, Did you say A COUPLE YEARS? This is going to be a long wait
A couple of years is nothing. I and many others have been following the WTC redevelopment for over 6+ years. If this does restart in 2014 or '15, I'll be satisfied.
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Old June 29th, 2012, 11:28 PM   #2042
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Indeed. Could very well be longer. Of course, this is all mere speculation...but I would take the bet that watching them enclose that (formerly) exposed rebar (among other things) seems to indicate that a wait is highly likely.
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Old June 30th, 2012, 03:52 AM   #2043
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How come in the height of the depression they built the ESB and it stood almost empty for many years. If they can build the WTC to it's optimum plan now it will be cheaper than going back and building in later years. Tenants will be more inclined to move to the site knowing they wont have to put up with another construction site moving in from time to time. Yeah, I know it's all about money : (
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Old June 30th, 2012, 06:36 PM   #2044
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Quote:
Originally Posted by redbaron_012 View Post
How come in the height of the depression they built the ESB and it stood almost empty for many years. If they can build the WTC to it's optimum plan now it will be cheaper than going back and building in later years. Tenants will be more inclined to move to the site knowing they wont have to put up with another construction site moving in from time to time. Yeah, I know it's all about money : (
Well , there were two main reasons :
1 - It was started before the Great Depression really took its toll .
2 - Heavy , heavy backing from big players using their influence . It didn't hurt that they sold it as a modern marvel which drew in a few extra bucks as well .
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Old June 30th, 2012, 06:50 PM   #2045
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Quote:
Originally Posted by spectre000 View Post
A couple of years is nothing. I and many others have been following the WTC redevelopment for over 6+ years. If this does restart in 2014 or '15, I'll be satisfied.
I have been following the redevelopment since 2006! So I have been waiting 6 years for 1WTC, and if it does go up in 2015 then I would of had to wait almost 10 years for it
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Old June 30th, 2012, 07:02 PM   #2046
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i follow skyscrapers rising arround the world arround 12 years now. waiting a few years for 2WTC is not that much to me.
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Old June 30th, 2012, 07:15 PM   #2047
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i follow skyscrapers rising arround the world arround 12 years now. waiting a few years for 2WTC is not that much to me.
Same here. As much as I want this built, I also want the WTC to be a financial success. Simply building empty towers right now doesn't help the image of NYC or the country. Empty office buildings would get panned in the media, just like the original twin towers. We don't need to repeat the 1970's.
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Old June 30th, 2012, 10:05 PM   #2048
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The foundation takes the longest time..and since the wtc2's is already done, it could top-out very quickly, in about a year..and an additional year to finish all the other stuff, the insides and to finalize it.
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Old June 30th, 2012, 10:13 PM   #2049
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Based on the current climate I'd say construction will start well into the construction of 3WTC in around 2014 as no tenants for 3WTC = none for 2WTC so no point in building too soon. This is my favourite design out of the 4 thought so I hope it will rise soon.
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Old June 30th, 2012, 10:43 PM   #2050
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It's unconfirmed, but there are rumors that 3WTC will be built without a stop. And if that is true (a big IF), then I can imagine 2WTC could be built rather sooner than later. And I hope that is true cause I've been following skyscrapers for 1 year and I'd really hate to wait years for this to rise. The WTC is about pride more than about office space so I'd rather have an empty tower sooner than a full tower later.
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Old June 30th, 2012, 11:00 PM   #2051
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^Stop posting.

I'm almost certain that this question has been asked before, but does 2WTC need to wait for 3WTC to be fully leased, leased above a certain percentage, or just get an anchor tenant?

I too would rather have this tower sooner than later but building empty towers is just stupid.
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Old June 30th, 2012, 11:06 PM   #2052
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2WTC don't has to wait for 3WTC only in the case of a tenant specifically requesting space in 2WTC. Otherwise it's first 3WTC and then 2WTC, cause 3 WTC is cheaper to build.
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Old June 30th, 2012, 11:07 PM   #2053
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Quote:
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2WTC don't has to wait for 3WTC only in the case of a tenant specifically requesting space in 2WTC. Otherwise it's first 3WTC and then 2WTC, cause 3 WTC is cheaper to build.
That doesn't answer my question.
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Old June 30th, 2012, 11:12 PM   #2054
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Um, it does. It means that unless a tenant specifies he wants space in 2WTC, he'll get space in 3WTC first, so yeah, under normal conditions 3WTC has to be fully leased first iirc
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Old June 30th, 2012, 11:19 PM   #2055
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5WTC? Anyone?

Also, i think they have the money to build 3WTC without a tenant, but not 2WTC.
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Old June 30th, 2012, 11:33 PM   #2056
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Quote:
Originally Posted by azn_man12345 View Post
^Stop posting.

I'm almost certain that this question has been asked before, but does 2WTC need to wait for 3WTC to be fully leased, leased above a certain percentage, or just get an anchor tenant?

I too would rather have this tower sooner than later but building empty towers is just stupid.
Silverstein hasn't said. My guess is they'll wait till T4 is almost full and T3 is over half filled. Silverstein won't have any leverage in charging $70+ a square feet if he has a bunch of empty buildings.

And don't forget that the WFC across the street will be losing BoA (fmr Merrill Lynch's) space next year. They occupy half of WFC's 8 million sq ft of office space.

I expect leasing will pick up after the election and closer to opening day of Towers 1 and 4 though.
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Old July 1st, 2012, 12:26 AM   #2057
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Don't get annoyed if this is slightly off topic, I'm new here, but when should we expect the new WTC complex to be fully complete and up and running? (Like, when will the new complex be like the old complex on, say September 10th 2001?)
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Old July 1st, 2012, 12:53 AM   #2058
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Quote:
Originally Posted by azn_man12345 View Post
^Stop posting.

I'm almost certain that this question has been asked before, but does 2WTC need to wait for 3WTC to be fully leased, leased above a certain percentage, or just get an anchor tenant?

I too would rather have this tower sooner than later but building empty towers is just stupid.
I remember hearing that 2 WTC needs 1M sf commitment to fulfill its anchor tenant requirements, versus 400,000 minimum for 3 WTC. 1M sf sounds like a lot, but Time Warner has 4M sf of office space in Manhattan, and the financial institutions that will likely end up anchoring this building are also in the several million sf range.

The occupancy rates for the other towers probably won't have much of an impact on Silverstein's ability to get that initial anchor tenant here, for two reasons. First, if say Merril Lynch wanted to move to the new WTC, the amount of space they would want may not be available in the other buildings. So say they wanted 1.5M square feet of space, that much may not be available in tower 1 or tower 4. It could be available in tower 3, but that brings me to the second reason, which is the trading floors.

The reason the lower portions of this and 3 WTC are so much fatter than the rest of the building is because they house trading floors, which financial firms love, and require. So say Credit Suisse moves into 3 WTC, they would without doubt lease the trading floors, and because the trading floors would then be occupied, it would make the building uninhabitable to other big financial firms. So again, if Credit Suisse anchors 3 WTC and takes say 1.2M sf of space, there is technically 1.6M sf of unoccupied space in the building but the lack of trading floors mean that a UBS would have to look elsewhere.

I agree with spectre though. By the end of the year Time Warner will have made a decision on what it will do with its 4M sf real estate portfolio, and where it will move, and the election will be out of the way, so it should pick up after all that.

And BofA and Merrill occupy 4.6M sf at the WFC, so should be interesting to see what they decide do. A Merrill move wouldn't be surprising. They were going to anchor 15 Penn before the crash, and like most of the big banks have downtown offices and midtown offices.
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Old July 1st, 2012, 02:45 AM   #2059
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Quote:
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Don't get annoyed if this is slightly off topic, I'm new here, but when should we expect the new WTC complex to be fully complete and up and running? (Like, when will the new complex be like the old complex on, say September 10th 2001?)
Well, I have created a list of things, and when they are opening:

*Completed*
Seven World Trade Center (Opened May 2006)
Visitor Center (Opened 20??)

*Under Construction*
9/11 Museum (September 2013)
Four World Trade Center (Opens Q3 2013)
One World Trade Center (Opens Q4 2013)
Transportation Hub (Opens 2Q 2014)
Three World Trade Center (Opens 2015)
Five World Trade Center (Opens 2016)

*On Hold*
Two World Trade Center (Opens 2015+)

So I would say the new complex will be like the old one by 2017 (Assuming 2WTC resumes by early 2014).
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Old July 3rd, 2012, 07:32 AM   #2060
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Quote:
Originally Posted by ZZ-II View Post
i follow skyscrapers rising arround the world arround 12 years now. waiting a few years for 2WTC is not that much to me.
I've learned to be patient as well.

I know that one year from now WTC 1 will be fully clad and tenants will start to move in. If the economy is better we will see a flurry of activity.
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