Developer pledges to rebuild World Trade Center

The New York developer who led the group that bought a 99-year lease of the World Trade Center said he is determined to help …

The New York developer who led the group that bought a 99-year lease of the World Trade Center said he is determined to help rebuild the complex, as well as 7 World Trade Center, a neighbouring office tower that also collapsed in the carnage, the Wall Street Journalsaid in its online edition today.

"It would be the tragedy of tragedies not to rebuild this part of New York," said Mr Larry Silverstein, who closed on the $3.2 billion deal with his partner Westfield America Inc. in late July.

"It would give the terrorists the victory they seek," Mr Silverstein said in an interview with the newspaper from his Fifth Avenue office.

Mr Silverstein (70) a New York civic leader as well as a prominent developer, emphasised that any planning for rebuilding had to wait until after people dealt with the human toll of the tragedy, the article said.

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The victims may include four of his employees, who are still missing, it said.

Silverstein said in the interview he felt a moral obligation to rebuild. "The city is not dead and can't be allowed to die," he said. "We owe it to our children and to our grandchildren."

Other real estate executives have questioned whether any tenant would want to locate in such a tall building after Tuesday's terror attacks. Mr Silverstein said that whatever replaces the World Trade Center won't necessarily have to be so high, the article said.

He said a memorial for the victims should also be developed on the site.