April 18th - April 22nd, 2011

New Delay at Ground Zero

April 18 - The effort to finance a new World Trade Center tower has been delayed as an investors’ group stops the $1.3 billion bond sale for 4 World Trade Center, reported the Wall Street Journal. Concerns over how the deal is structured helped delay the sale meant to finance the tower. The 72-story building is one of two under construction at ground zero, the other being the 104-story 1 World Trade Center. Both are slated to be finished by the end of 2013.

Well Uncovered beneath Fulton Street

April 18 – During utility work on Fulton Street in March workers uncovered a 300-year-old well. Reported in DNA.info, the well was 10 feet beneath the street, below a stone wall. The sandstone well, approximately five-foot in diameter was likely used for industrial purposes although artifacts dating back to the time it was built, including a piece of glazed Rhenish stoneware, a teapot lid and a ceramic bird's head, which may have belonged to a toy or a whistle. Once the artifacts have been cleaned and restored, they may go on display, a spokesman for the city Department of Design and Construction said.

New Terrorism Alert System Implemented

April 20 - The federal government Wednesday is implementing a new terrorism alert system that replaces the color-coded alerts put in place after the September 11, 2001, terrorist attacks on New York and Washington reported the Los Angeles Times.

The new system only has two levels of alerts -- compared to the previous system's five levels.

The two alert level system will be "elevated threat," which "warns of a credible terrorist threat" to the United States; and "imminent threat," which "warns of a credible, specific and impending terrorist threat," according to a Department of Homeland Security statement.

Any alert will automatically expire after a specific time.

Chang Sells Water Street Hotel

April 20 - The Metro Six Hotel LLC, has sold a Holiday Inn Express at 126 Water Street, reported Real Estate Weekly. A Pennsylvania-based Hersha Hospitality, which owns 14 other hotels in the city made the purchase for $36.7 million, according to city records. Hotelier Sam Chang’s Metro Six Hotel is an affiliate of McSam Hotel Group.