“The last few months have demonstrated that it was a good idea to bet on Downtown’s revival. This area has become the hottest office market in New York, at the center of a 24/7 live-work-play community.
“I appreciate the leadership of Port Authority Vice-Chairman Scott Rechler and other members of the Board who have partnered with us to fulfill the vision we all share – a fully rebuilt World Trade Center at the heart of a vibrant new Downtown. Today’s action, which frees up a portion of our insurance proceeds to be used for the construction of 3 WTC, permits us to immediately jumpstart vertical construction, employ 3,000 construction workers and stay on target for an early 2018 completion.
“We remain confident that we will nail down a construction financing package that will allow us to complete the project and create an ideal environment for GroupM employees and other dynamic, creative companies who are making their home at the new World Trade Center.”