NEW YORK (CNNMoney.com) — The government agency that owns the World Trade Center site is trying to attract private equity or hedge funds into investing in the $3 billion replacement Freedom Tower, according to a published report.
The Wall Street Journal reports that the agency, the Port Authority of New York and New Jersey, also is in talks to sell development rights to one of the five planned skyscrapers there to J.P. Morgan Chase & Co (Charts).
The paper said that if the agency is able to win commitment of significant private-sector money, it would be a major advance for the development, which has struggled to advance so far by basically using only government support and insurance proceeds
