Construction begins on World Trade Center's last office tower, housing American Express
New York City is marking a significant milestone as American Express headquarters becomes the final commercial office building at the World Trade Center complex.
Groundbreaking on the construction begins Thursday morning, nearly 25 years after the Sept. 11 attacks destroyed the site.
The 2 World Trade Center building is going up just north of the Oculus building. It will span nearly two million square feet across 55 floors and will be built on land owned by the Port Authority under a long-term ground lease.
Building details and renderings
The new space will accommodate up to 10,0000 workers and will be completed by 2031.
The development is expected to create more than 3,2000 jobs during the project. It will contribute $5.9 billion to the city's economy and $6.3 billion to the state, according to a news release.
American Express has not discussed the cost of the new building. Port Authority spokesperson Tom Topousis previously said the skyscraper isn't getting state, city or Port Authority financing or incentives.
Redevelopment roadblocks
The road to construction hasn't been easy.
Plans for the site once called for a tower as tall as 80 stories. Companies like News Corp. and 21st Century Fox were floated as potential tenants, but nothing materialized.
The project grew even more difficult after the COVID-19 pandemic emptied offices.
Now, American Express is stepping in as the tower's sole tenant.
New York City Mayor Mamdani, NYC Council Speaker Julie Menin and Comptroller Mark Levine will attend the groundbreaking at 9:30 a.m.
