August 28, 2003

The Lower Manhattan Development Corporation confirmed that it is planning to use the site of the 40-story Deutsche Bank building on 130 Liberty street, across from the World Trade Center, as part of its future plans for the WTC site.

The building, which was badly damaged as a result of the September 11 terrorist attacks, has been a subject of recent controversy because Deutsche Bank, its owner, sued in New York State court to declare it an insurance loss and have it torn down, claiming it unsavable. Two of the building’s insurers, Allianz and AXA, said the building can be saved and refuse to pay for the insurance loss.

LMDC spokesperson Joanna Rose said that options being discussed for the site include truck security, commercial space, and open space.

"We’re moving forward in our plan to use the Deutsche Bank building as part of our site," said Rose."It was one of the things that emerged in the past couple of months. Rose refused to comment on what the LMDC would do with the space if Deutsche Bank lost its suit with its insurers and couldn’t tear the building down. "That’s still in litigation," she said. She added: "We’re assuming we can acquire the Deutsche Bank site at some point."

Sam Lubell