9/11: “Urban Renewal with a Twist”
FROM Stewart Ogilvie:
The so-called “twin towers” were flagship structures in NY Port Authority’s new World Trade Center in which five other smaller ones were constructed. Building 7, which eventually achieved notoriety due to its “photographed” demolition late in the day on 9/11, was roughly half the height of the twin towers. The Port Authority’s 1964 cost estimate for the project was $350 million. By September 1965 it had risen to $525 million. By December 1966 it was $575 million. There was no stopping this highly touted project to construct the world’s tallest buildings despite serious financial reservations. Bid at $750 million, the final construction cost was $1.2 billion. (more…)
