WTC redevelopment boss hopeful for future.

James T. Connors was recently appointed Director of the World Trade Center (WTC) Redevelopment Department.

In Connors' current role as Deputy Director, Real Estate, he provides strategic direction and oversight for PATH, TB&T, Economic Development real estate assets and corporate office space management. Jim is also instrumental to advancing the wide array of WTC business and planning issues.

He was responsible for the recently negotiated 7 WTC ground lease and the Marriott Hotel lease surrender. As Deputy Director, and in his former position as the Assistant Comptroller, WTC, Connors played a key role in the 2001 net lease transactions to Silverstein Properties and Westfield America. Jim has held numerous financial management and project team positions in over 20 years of Port Authority experience.

Connors became the Acting Director of Real Estate in July 2002. During his 18 years of Port Authority experience he has held a number of managerial positions, including the Deputy Director of Real Estate, the General Manager of Finance for the World Trade Center, the Project Manager, AVI Program (precursor to EZPASS), and various financial management positions in the Office of the Chief Financial Officer. Connors holds a Master of Public Administration degree from Syracuse University and is licensed as a real estate broker in NY.

Q. What are your new responsibilities as Director of the World Trade Center Redevelopment Department?

A. To develop, advance and implement strategies for the redevelopment of the World Trade Center. This been one of the most public development projects in modern history and it is a real challenge to balance the interests of the various stakeholders in the redevelopment.

Q. Why was it necessary to create this position ?

A. To provide a larger and dedicated team to focus specifically on bringing the redevelopment of the World Trade Center from a planning concept to a reality. In essence the former World Trade Center was a city within a city and with the various memorial, cultural and performing arts, transportation and commercial uses that are being planned for the site will make the new World Trade Center an even more dynamic, vibrant area.

Q. Are you still the Deputy Director, Real Estate, as well?

A. No, new leadership for the Real Estate Department will be announced in the near future.

Q. Will the Port Authority hire additional staff for the new department?

A. Yes

Q. What are your strategies-for bringing businesses to the WTC?

A. Consistent with the net leases for the office and retail components of the World Trade Center, the net lessees have that responsibility. In December 2003, the Port Authority acquired the retail net lessee from Westfield, and we intend to craft the strategies to bring an appropriate mix of retail tenants, as well as a hotel/conference center component, back to the site.

Q. Do you feel it is going to be difficult to market the space at the WTC?

A. The whole WTC site will be truly unique. First and foremost, we will have a memorial dedicated to the victims of the terrorist attacks. The Port Authority lost 84 employees. We understand and support the memorial's creation as the most important piece of redevelopment process. Additionally, the master plan integrates wonderful new cultural offerings, radically improved transportation systems and connections, world-class retail venue, new hotel/conference center facilities and the best office space in Downtown. It will be a vibrant mixed-use project that connects to the rest of Lower Manhattan. We believe it will be attractive to commercial interests and space users.

Q. How are you working with Silverstein Properties Inc. to market space at the WTC?

A. The Silverstein net lessees have the primary responsibility to market the office space consistent with their net leases. To date, SPI has been heavily involved in the overall planning process and their point of view as to how to achieve a viable commercial development within the whole of the project has been invaluable.

Q. Have any businesses agreed to lease space yet?

A. We understand that SPI has been having discussions for office space and that there are a number of prospects they are working with. On the retail side, it's still a bit premature for us to begin directly marketing the space.

Q. What type of businesses do you hope to draw to the WTC?

A. We expect SPI to market their space consistent with their net leases to all manner of office tenants- from large to small space users, from private sector to not-for-profits to governmental lessees, from US to international organizations. Traditionally Downtown has been a magnet for financial, insurance and law firms, but given the quality of the development, the improved transportation, and the changing nature of Lower Manhattan to a 24x7 neighborhood with a substantial residential community we see the new users choosing downtown locations. Other businesses include a wide variety of retail stores and restaurant, hotel and conference center operator(s).

Q. What is one of the first things you plan on doing?

A. Build a team to work in conjunction with our PATH project team and planners downtown.

Q. What do you think will be the most difficult part of your job ?

A. Figuring out a detailed mixed-use development and implementation plan that everyone likes.

Q. What achievement are you most proud of?

A. The successful completion of the July '01 net leases for the office and retail components of the World Trade Center site.