World Trade Center Redevelopment to Have Residential Component

With a decisive win in his re-election, Mayor Bloomberg spoke to his priorities for his final term as chief of the the US's largest city in his second inaugural address on New Year's Day: Affordable housing and the World Trade Center.

"...[S]ignaling a stronger involvement in the rebuilding of Lower Manhattan after shying away from the issue for much of his first term, the mayor fired what seemed to be a shot across the bow
of those who oppose residential development around ground zero. (Assembly Speaker Sheldon Silver, who wants to focus on commercial development, was conspicuously absent yesterday; Gov. George E. Pataki attended.)

"We'll quicken the pace of rebuilding here in Lower Manhattan, creating a sustainable residential and commercial community," he said. "By giving New York a genuine 21st-century downtown, we'll ensure that this, our historic birthplace, once again captures the imagination and admiration of people around the globe."

"Much of Mr. Bloomberg's speech was a restatement of some of his larger campaign promises, like the planned construction of 165,000 units of housing for low- and moderate-income New Yorkers, and plans to foster more new small businesses and to lure more biotechnology companies to the city."

Full Story: Bloomberg Begins His Second Term

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