Larry Silverstein on Rebuilding Ground Zero, NYC Development, and Marriage

Casino Development in NYC

• 🎯 Larry Silverstein is pursuing a casino bid near the Javits Convention Center, believing it will benefit New York through visitor income.
• 💡 He argues his location is superior due to a lack of community objections, unlike sites in Times Square or Hudson Yards.
• ⚠️ The proposal faces competition, with only three downstate licenses available, and potential advantages for existing bids in Yonkers and Aqueduct.

Rebuilding Ground Zero After 9/11

• 🏗️ Silverstein recounts the staggering experience of purchasing the World Trade Center property just six weeks before 9/11.
• 💔 He shares the profound personal impact of losing employees and the immense scale of loss among workers and first responders.
• 🗣️ Driven by a sense of obligation and the understanding that Lower Manhattan's vitality depended on it, he committed to rebuilding the World Trade Center.
• ⚖️ A significant hurdle was a five-year litigation with 22 insurance companies, eventually resulting in approximately $4.3 billion, though less than the rebuilding costs.
• 🌟 After 23 years, he expresses a sense of tremendous pride and satisfaction in the rebuilt area.

Redevelopment and Affordable Housing in NYC

• 🏢 Silverstein notes the significant number of empty office buildings in New York City post-pandemic.
• 🏠 He is actively involved in converting office buildings to residential use, anticipating success and further similar projects.
• 🏘️ He highlights the desperate need for affordable housing but acknowledges the extreme difficulty in making it feasible for both developers and residents.
• 🏛️ He suggests that zoning law changes and lower-cost financing from city or state institutions are crucial for producing affordable housing.
• 📈 He believes New York City has a history of overcoming downturns and will always come back bigger, better, and stronger.

Lessons on Marriage and Life

• 💖 At 94, Silverstein shares insights from his 68-year marriage, emphasizing the critical importance of picking the right spouse who shares core values.
• 🤝 He describes his marriage as a team effort, enabling them to achieve anything together.
• 👨‍👩‍👧‍👦 He and his wife have three children, eight grandchildren, and one great-grandchild.
• 💡 His advice for those starting out is to understand and not try to change a partner's core values.