Five World Trade Center - Proposed Building - Construction History

Construction History

Following JPMorgan Chase's acquisition of Bear Stearns in March 2008, the company announced plans to use existing Bear Stearns headquarters at 383 Madison Avenue as its new J.P. Morgan Investment Bank headquarters. The company later abandoned plans to occupy a skyscraper on the 130 Liberty Street site. A proposal to convert the planned office tower on the 130 Liberty Street site into a residential or mixed use tower was explored instead.On May 1, 2008, deconstruction of the former Deutsche Bank building resumed.

2009

On May 11, 2009, it was announced that the Port Authority of New York and New Jersey was seeking to cancel the construction of World Trade Center Tower 5 altogether as part of an overall plan to halve the amount of office space available in the fully reconstructed World Trade Center to 5 million square feet (465,000 m²). The agency, citing the recession and disagreements with developer Larry Silverstein, also proposed the reduction of 200 Greenwich Street and 175 Greenwich Street to "stump" buildings of approximately four stories.

It was proposed in July 2009 to move the planned construction site for the Performing Arts Center to the 130 Liberty Street location. The Performing Arts Center was planned to be constructed near the center of the World Trade Center site as part of the National September 11 Memorial & Museum; at that location, however, the building's construction would not begin until 2015. The proposal did not specify whether the Performing Arts Center would occupy the entire site, thereby ending plans for a fifth World Trade Center tower, or if the center would become integrated into a new mixed use skyscraper on the site.

2010

On March 25, 2010, the Port Authority announced that it had assumed responsibility for the development of the Five World Trade Center site, in addition to One World Trade Center, the National September 11 Memorial & Museum, the transportation hub, and site infrastructure. Towers 2, 3, and 4 would continue to be developed by Silverstein Properties.

On June 15, 2010, New York University had expressed interest in expanding to Tower 5 as part of its NYU 2031 program.

2011

On February 28, 2011, the Deutsche Bank Building demolition work was completed, and construction of another WTC project, the Vehicle Security Center & Bus Parking Facilities has begun. Development of the site was officially given to the Port Authority of New York and New Jersey.

On September 1, 2011, the Port Authority of New York and New Jersey began construction to incorporate the site into the new WTC development, acting as its developer.

On October 14, 2011, Governor Cuomo announced an agreement to rebuild the St. Nicholas Greek Orthodox Church at 130 Liberty Street. The Church would be located adjacent to the future Liberty Park, which would be built on top of the Vehicle Security Center.

On December 9, 2011, Phase 2 construction of the South bathtub, located on the site of 130 Liberty Street, continues with the excavation and concrete placement.

2012

Concrete placement and steel erection of the South Bathtub continues.

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