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Lower Manhattan Update The State and City organizations responsible for redeveloping Lower Manhattan have made real progress during the first half of the year. The Port Authority of New York & New Jersey, New York State and New York City reached an historic agreement that will speed the timetable for construction of all five office towers at the World Trade Center. Within weeks of the agreement, construction had started on the Freedom Tower and world-class architects had been assembled to begin design work on towers 2, 3 and 4. Construction continues on the PATH Transportation hub, the Fulton Street Transportation Center and the South Street Ferry terminal. These projects are essential to assuring a better integration of commuter systems and improving the aesthetics downtown. The last building to fall and the first to rise again, 7 World Trade Center, officially opened in May. The 52-story office building and adjacent landscaped park also became the first office tower in New York City to be certified “green” by the U.S. Green Building Council. Recent reports indicate that leasing activity is picking up as well, which is a positive sign for the subsequent towers to rise. Governor George E. Pataki and Mayor Michael R. Bloomberg selected former Building Congress Chairman Frank J. Sciame to lead a critical effort to bring the cost of the World Trade Center Memorial to $510 million after recent cost analyses came in well above initial estimates. Mr. Sciame created a process that incorporated input from all the affected constituencies and yielded a revised design that is on budget while maintaining the essential elements of the original vision. “As personified by Frank Sciame, who did an absolutely fabulous job, men and women from all sectors of the design, construction and real estate industry are quietly assisting in what is becoming a success story downtown,” said Richard T. Anderson, who added that the positive developments are not limited to the World Trade Center. Thanks to an unprecedented level of conversions and new construction, Lower Manhattan is realizing its potential as a dynamic,
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