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WTC
rebuilding
planned
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Lease owner committed to project, though not exact
replicas
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September 14, 2001:
7:58 a.m. ET
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NEW YORK
(CNNfn) - The developer who led the group that purchased the
World Trade Center's 99-year lease in July 1999 for $3.2
billion from the Port Authority of New York and New Jersey,
said he is committed to help rebuilding the center, according
to a published report Friday.
New York-based Larry
Silverstein told the Wall Street Journal, "It would be
the tragedy of tragedies not to rebuild this part of New
York." Silverstein said any rebuilding plans will wait until
the grieving process is over. He also said four of his
employees remain missing.
Although Silverstein
said he is ready to rebuild, he did say he is not committed to
creating exact replicas of the towers, acknowledging tenants
may be reluctant to relocate in such prominent buildings,
according to the paper.
Once all of the missing are
accounted for, Silverstein told the newspaper, he will
concentrate on the insurance, lease and legal issues resulting
from the attack. "It's going to take huge amounts of time to
deal with the magnitude of the paper issues," he said, adding
that the 99-year lease is insured against
terrorism.
"The city is not dead and can't be allowed
to die," Silverstein told the Journal. "We owe
[rebuilding] to our children and to our
grandchildren." 
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