Maybe WTC Tower 5 Will Be Luxury Apartments & Hotel

Yesterday, the Daily News reported that the Port Authority may consider to scrap three of the planned towers—Towers 2, 3 and 5— at the World Trade Center site, due to costs, delays and the economic downturn. Now the Post throws out the idea that the PA may actually opt for building luxury hotel and apartments at Tower 5, which seems "a stronger bet than holding out for a commercial tenant, now that JP Morgan is out of the picture." And Globe St. suggests that the PA only wants to delay Tower 2 and 3 construction until the real estate market is better (and needs millions more square feet). The PA and WTC developer Larry Silverstein have been at odds over Ground Zero plans, with the developer asking for more financial help and the PA unwilling (thus far) to pitch in any more. Silverstein Properties president of WTC properties Janno Lieber said, "The Silverstein team has not wavered on rebuilding the World Trade Center, and we never will." [Via Curbed]