Lower Manhattan has come a long way from its darkest day—but will it continue to thrive when the threat is microbes, not militants?
n the morning of September 11, 2001, the Brooklyn-born real estate developer Larry Silverstein was getting dressed to go to work at the World Trade Center when his wife, Klara, reminded him he had an appointment with his dermatologist. Now, two decades later, he credits that moment with saving his life.
“If it hadn’t been for Klara’s everyday concern for my well-being, I wouldn’t be here today,” the 90-year-old Silverstein toldJust six weeks earlier, Silverstein and a group of minority investors had won a 99-year lease on the twin towers from the Port Authority of New York and New Jersey for $3.2 billion.
“After 9/11, there was a great debate over what should be built at the World Trade Center. It was quintessential New York: passionate, loud and fractious,” says Silverstein. “But one thing was clear. The new World Trade Center needed to be much more than what it had been before.” Larry Silverstein and New York Assembly Speaker Sheldon Silver look at a model of the future World Trade Center site during a media presentation in New York in September 2007.It would take 99 days for the fires to stop burning at Ground Zero and more than a year until ground broke on the first of the new towers, 7 World Trade Center, in November 2003.
What might have seemed impossible in the aftermath of the attacks—to recreate a bustling commercial district at the heart of lower Manhattan—has not only become a reality, it’s also been a relative financial success.estimates the combined value of the completed office buildings that currently house more than 40 tenants—One, 3, 4 and 7 World Trade Center—to be more than $11 billion. Silverstein, his partners and the Port Authority owe about $3.
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