Because the owner and developer remain at odds, the fate of much of the 16-acre World Trade Center site in Lower Manhattan may now be in the hands of a third party. The site’s owner, The Port Authority of New York and New Jersey, and New York City developer Larry Silverstein, who has a 99-year lease on the property, failed to reach an agreement by March 12 on a financing plan and schedule for three towers on the property’s eastern side. Structural-steel placement on the site’s structural centerpiece, One World Trade Center, reached the 20-story milestone in February, with construction
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.