5 WTC plans on “pause” due to rising costs: Port Authority
Nearly three years after the state announced a deal to move forward with the project, plans to build housing at 5 World Trade Center are on ice. During a Manhattan Community Board meeting this week, a Port Authority of New York and New Jersey official indicated that the plan for a development team led by Silverstein Properties and Brookfield Properties to build 1,200 apartments, of which a third would be affordable, is “currently on pause” as the parties involved figure out “exactly what is possible on the site.” “The cost of everything is going up right now, so whatever the […]
This article originally appeared on The Real Deal. Click here to read the full story.
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