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WTC saga shifts toward arbitration.

Publication: Real Estate Weekly
Publication Date: 12-AUG-09 		Format: Online
Delivery: Immediate Online Access
Full Article Title: WTC saga shifts toward arbitration.(World Trade Center)(Silverstein Properties Inc.)

Article Excerpt
Gov. David Paterson and Port Authority executive director Chris Ward slammed World Trade Center developer Larry Silverstein for his decision to bring the impasse at the site into arbitration.

"I am deeply disappointed that Silverstein Properties has selected a course of arbitration," Paterson said in a statement released by his office. "Both the Port Authority and I remain committed to negotiating a framework to resolve this impasse and I hope that Silverstein Properties will continue to negotiate with us in good faith."

Silverstein and the Port Authority have grappled over what financial role the authority will play in helping Silverstein develop Tower 2, a skyscraper larger than the Empire State Building that is one of three office building Silverstein is planning to build on the site.

Silverstein has already started construction for...

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