Port Authority Picks Durst to Build One World Trade Center

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Photo: Getty Images

In a decision that is sure to disappoint Fox News’ headline writers, the Port Authority of New York and New Jersey has selected family-run developer the Durst Organization to help build and manage the 1,776-foot-tall skyscraper that will be the focal point of the redevelopment of ground zero. The company will invest at least $100 million to buy a stake in the World Trade Center tower, according to the Port Authority, which said it will take about a month to negotiate a final agreement with Durst. The organization, responsible for the new Bank of America tower in midtown, beat out Related Cos., the international development company that built the Time Warner Center.

Durst Wins Battle for One World Trade Center [Metropolis/WSJ]