Developer gets final WTC parcel from Port Authority

The last of three sites planned for office towers at the former World Trade Center site in Manhattan has been turned over to developer Larry Silverstein by The Port Authority of New York and New Jersey after it completed excavation. Port Authority officials say Silverstein must complete the towers by 2014. Meanwhile, Silverstein continues to demand that the Port Authority guarantee financing for the towers. At this point, the Port Authority is unwilling to subsidize three towers.

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