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Posted inLand Use

A share in condo sales looms as point of contention in deal to redevelop World Trade Center

The city is beginning its negotiations with Gatehouse Capital over how much the developer will pay for its lease on the former World Trade Center building. One thing that could influence the negotiations: Gatehouse could turn apartments into condos after five years, which could bring in $135 million. Will the city angle for a cut of condo sales?