by Lionel Bascom — November 23rd, 2007 — 1 comment
An Australian-based retail developer may help the Port Authority of New York and New Jersey run retail stores when the World Trade Center reconstruction is complete. The Bloomberg News Service says the PA is considering a joint venture with Sydney-based Westfield Group, the largest shopping center owner in the world. PA Real Estate and regional development chief Michael Francois says they are actively considering this deal. “It is the intention of both parties to move on an aggressive schedule, with the aim and hope of concluding these discussions by the end of the year,'’ Francois said today at a meeting of the authority’s trade center redevelopment subcommittee, The discussions are “an alternative'’ to the authority operating the approximately 500,000 square feet of retail space itself, Francois said. Last month, the agency issued a request for proposals from potential retail consultants. Those are due Jan. 19, he told the news service. Westfield sold its lease back to the authority in 2003 for $140 million, while retaining first refusal rights for future retail development there.
7:41 PM in Uncategorized, World Trade Center, Ground Zero, Related Stories, Freedom Tower News
This would be a wonderful, economic attraction in Manhattan. If such a retail enterprise of the new World Trade Center incorporates an element of world culture that embraces intellectual with creative expression, then surely, New York will experience the renaissance that demonstrates perseverance.
That said, Go Packers!
Jeanne · November 24th, 2007 at 12:16 am