New Plan for Former Deutsche Bank

Federal and state regulators have approved a new plan to take down the former Deutsche Bank building.

Friday, February 08, 2008

REPORTER: Instead of removing contaminants and dismantling the structure at almost the same time, the Lower Manhattan Development Corporation will start with the asbestos abatement.

Then, after returning for more approvals, it will demolish the structure.

Catherine McVay Hughes, vice chairwoman of Community Board 1, says the decision and its approval by regulators is an important step.

HUGHES: A safe project is a speedy project. There will be less people being hurt and there will be less fines and the process will go quicker.

REPORTER: The demolition stopped last August after 2 firefighters died in a blaze at the building.

The LMDC hasn't set a date to resume work, but says it will finish taking down the building by the end of the year.

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