Two state agencies that had been embroiled in a yearslong impasse over how to develop the last site at the World Trade Center appear to have resolved their differences and are planning to bring the parcel to market.
The Port Authority and the Lower Manhattan Development Corp. have reached a deal to release a request for proposals in the coming months for 5 World Trade Center
— Crain's New York
Lower Manhattan Development Corporation (LMDC) head Holly Leicht explained in a meeting that "after quite a lengthy period of time of negotiation, we executed a memorandum of understanding with the Port, the LMDC and the city to move forward on an RFP for Site 5, which will be our last major site to develop," adding, "The reason for the appraisal now is because there's a base value the Port wants to get for the land."
Though the site is currently zoned exclusively for commercial development, LMDC will accept proposals for either commercial or residential uses for the site. The group is expected to issue a Request for Proposals for the site over coming weeks.
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