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Article: Redevelopment of WTC public areas authorized. (Port Authority of New York and New Jersey approves redevelopment of World Trade Center area)
- Article from:
- Real Estate Weekly
- Article date:
- March 23, 1994
CopyrightCOPYRIGHT 1994 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Planning for a major redevelopment of the public areas at the World Trade Center was authorized recently by the Port Authority Board of Commissioners.
The Board approved funding of $10 million for the development of plans, studies, surveys, specifications and cost estimates for a broad renovation of the outdoor Austin J. Tobin Plaza, the retail concourse and the complex's perimeter areas.
The Board also authorized staff to solicit private development interest in the renovation project, which is estimated to cost $300 million.
Port Authority Chairman Richard C. Leone said, "Reinvesting in the World Trade Center's facilities and services is ...