Excavation work in late April at the site of Tower 2 at the World Trade Center. Across Vesey Street from the site, at right, is the 90 Church Street office building. (Photo: David W. Dunlap/The New York Times)The Port Authority of New York and New Jersey said on Wednesday that it is running more than a month behind schedule in delivering the site of Tower 2 at the new World Trade Center to the developer, Silverstein Properties. The authority will pay Silverstein a $300,000 daily penalty, beginning July 1, until the site can be turned over fully excavated, some time in August.
The authority said the excavation and foundation construction of the site, at Church and Vesey Streets, is 90 percent complete. Because of the delay, the contractor, Phoenix Constructors, will forgo an on-time bonus that would have ranged from $8 million to $14 million.
Despite the delay, the developer will begin preparing the Tower 2 site even as the authority is wrapping up. “Everyone at Silverstein Properties is eager to start select work in July and looking forward to expanding over the entire Tower 2 site later this summer,” said Janno Lieber, president of World Trade Center Properties, an affiliate of Silverstein.
Tower 2, formally 200 Greenwich Street, will be the second-tallest building in New York on its completion in 2012. Only 1 World Trade Center, also called the Freedom Tower, will be taller. That building is now under construction.
Facing many difficulties earlier this year, the Port Authority was 48 days late delivering the Tower 3 and Tower 4 sites to Silverstein Properties, which cost $14.4 million in penalties. Deducting a $10 million unpaid on-time bonus, however, the authority calculated that its actual cost was $4.4 million.

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