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Talks Extended Through Weekend, Westfield Makes Offer

By: Doug Caverly
Friday, June 12th, 2009 at 5:26 pm

The Port Authority and Silverstein Properties are, unfortunately, still at an impasse.  However, two fresh developments offer tiny slivers of hope that the parties haven’t reached a permanent (or at least lawsuit-level) standstill.

One of the items is rather simple: as the resolution deadline set by Michael Bloomberg passed, the mayor’s office sent out a statement.  It read, “Governor Paterson, Governor Corzine, Speaker Silver and I spoke today, and - together with Larry Silverstein and the Port Authority - we agreed to extend the conversation through the weekend.  Everyone remains committed to finding a resolution.  We’ll have another update on Monday.”

So the different parties haven’t returned to their corners and hired lawyers, anyway, and the next deadline will hit soon enough.

Then, courtesy of Christina S.N. Lewis, comes this tidbit: “Australian shopping-mall company Westfield Group is offering to foot the $1.3 billion bill to build a retail complex at the World Trade Center site . . .”

Which sounds like something of a breakthrough.  But since Westfield’s plan would require him to give up a great deal of control, Larry Silverstein may not approve of the idea, and this doesn’t necessarily represent a path out of the mess.


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