Ground Zero Developer Wants a Bailout

By Kevin Spak,  Newser Staff
Posted Mar 21, 2009 9:11 AM CDT
A staircase from the World Trade Center at ground zero is moved to it's final resting place in New York, Thursday, Dec. 11, 2008.   (AP Photo/Seth Wenig)
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(Newser) – The long-delayed rebuilding at the World Trade Center site has hit another snag. Private developer Larry Silverstein is asking for financial help from the government—specifically, the already strapped Port Authority, the Wall Street Journal reports. Sources think the agency is so eager to avoid more delays it will help with financing on at least one of his three planned office towers.

If it does, Silverstein will probably have to give up some of his future profit from the buildings. The final site is supposed to have five skyscrapers, a transit hub, a memorial, a shopping mall, and a performing arts center. The memorial is still on track to be open by the 10th anniversary of the attacks, but the hope of having most of the rest in place by 2013 is in jeopardy.