Public-Private Partnerships
Silverstein Properties has been actively involved with public-private partnerships throughout its history and understands the particular needs of civic projects. Examples include the development of two buildings (totaling 2 million square feet) on land leased from the Port Authority of New York & New Jersey in the 1980's, development of two GSA buildings during the 1990's (including the the Ronald Reagan Federal Office Building and totaling 3.5 million square feet), the recent development of two New York City residential towers (totaling 3 million square feet) with tax-exempt government-issued bonds, and the current rebuilding of approximately 10 million square feet at the World Trade Center site, which is controlled by the Port Authority of NY/NJ and has required regular interaction with numerous federal, state, and local agencies. The redevelopment of the World Trade Center is currently the largest public-private partnership in the country.
Silverstein Properties continues to demonstrate its ability to collaborate and build consensus with public agencies and other stakeholders, to achieve successful project completion while satisfying the multiple, and sometimes contrasting, perspectives of all stakeholders.