Governor's Office Urges Port Authority to Re-bid 5 WTC Project
1 report, 1 independent
Updated Thu 00:00
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What happened
The 5 World Trade Center, a residential tower in New York City, has been stalled for years. A government official stated that the governor’s office is urging the Port Authority to take the project away from the development team, led by Silverstein Properties and BGRE, and put it back out to bid.
From tribecacitizen.com
Why it matters
This regulatory pressure affects the control of a major real estate project in New York City. The Port Authority is involved in managing real estate projects in the city.
From tribecacitizen.com
Who's involved
- Silverstein PropertiesLeads the development team for the 5 World Trade Center project
- port authorityIs being urged by the governor's office to take over the 5 WTC project
- New York CityThe location of the stalled 5 World Trade Center residential tower
Keep exploring
The entities involved
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Silverstein Properties
American real estate development firm
Nothing else this week.
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port authority
governmental or quasi-governmental public authority formed to operate ports and other transportation infrastructure
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New York City
most populous city in the United States