A lawsuit filed by the losing bidders on the World Trade Center has stymied the redevelopment of this long-vacant building, but a judge’s ruling on the matter may finally signal progress.
This week, Civil District Court Judge Tiffany Chase dismissed a lawsuit filed by the losing bidders of the World Trade Center lease because the firm failed to put up $750,000 in security (this is per a new state law requiring developers contesting leases through public benefit corporations to put up cash or bond).
Mayor Mitch Landrieu hopes to have the project completed before his term ends in May 2018.