Developer Secures Funds to Build 3 WTC - NBC New York

Developer Secures Funds to Build 3 WTC

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    Developer Secures Funds to Build 3 WTC
    AP

    Developer Larry Silverstein has secured the funds to build his long-planned 3 World Trade Center.

    Silverstein has sold $1.6 billion worth of tax-exempt bonds, paving the way for construction of the tower by 2018.

    The 1,170-foot tower would be the third to be constructed on the 16-acre site.

    Silverstein has so far secured one tenant for the 2.5-million-square-foot building. Advertising firm GroupM has signed on to lease 515,000 square feet.

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