Twin Towers' Obsolescence

• WTC construction:
  • Nelson's Brother David led team of CEOs:
    Downtown Lower Manhatton Association
  • Nelson helped destroy long-time retailers complex ('Radio Row') to site complex.
  • 63 workers died in construction.
• Difficulties renting space:
  • Took years to approach full occupancy.
  • Sustained by New York State office rents for much of period.
  • In 1970s 20,000 New York State employees worked in Twin Towers per order of Governer Nelson Rockefeller.
• Twin Towers needed $1 billion in renovations:
  • $1 billion for asbestos removal
  • $800 million for rebuilding electrical, electronic communications and cooling systems (Eric Darton)