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October 8, 2008 12:55:05 AM CDT

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WTC Project Years Behind, Billions Over

Posted Jun 30, 08 5:59 AM CDT in Business,  US 

(Newser) – The problem-plagued World Trade Center rebuilding project will be completed years behind schedule and up to $3 billion over budget, reports the Wall Street Journal. Construction of the various elements of the $15 billion complex—which includes a sprawling 9/11 memorial, office towers, a performing arts center, and a transportation hub—have been poorly coordinated, triggering a cascade of delays.

The Port Authority is releasing an investigative report today detailing up to 20 issues that must be addressed before a realistic schedule can be set. The problems mean the 8-acre memorial section of the complex isn't likely to be finished by the 10th anniversary of the attack. But officials are hoping to have at least some of the components completed by then.

Source Wall Street Journal

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Goldman Sach's headquarters, left, towers over construction cranes working above the Freedom Tower at the World Trade Center on Friday, June 13, 2008.   (AP Photo/Mark Lennihan)
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New York City  • Michael Bloomberg  • World Trade Center  • 9/11 attacks  • David Paterson  • Freedom Tower  • Christopher J. Ward  • Port Authority of New York and New Jersey  • Lower Manhattan Development Corp  • World Trade Center memorial  • Merrill Lynch & Co


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