American Express Starts 55-Floor 2 World Trade Center Tower for 10,000 Workers

Q: After a 13-year delay on a finished foundation, what finally triggered the construction of the last WTC tower?

The trigger was American Express’s decision to take the entire tower as its new global headquarters. That commitment solved the problem that had stalled 2 World Trade Center for years: the lack of an anchor tenant large enough to justify financing and restarting vertical construction. The foundation and below-grade work had been finished by mid-2013, but developer Silverstein Properties could not move ahead without a major occupant. American Express agreed not only to relocate from its nearby Vesey Street offices, but to become the sole owner and occupant of the 55-story, more than 2 million-square-foot building, with room for up to 10,000 employees. That deal gave the project the commercial certainty needed to proceed on the Port Authority-owned site. Officials framed the groundbreaking as the final step in completing the commercial redevelopment of the World Trade Center campus, 25 years after 9/11. Construction is now expected to continue through a 2031 opening, with the project projected to add thousands of jobs and billions in economic activity. In short, after 13 years of waiting on a completed foundation, 2 World Trade Center moved forward because American Express finally signed on as the tower’s full-scale headquarters tenant, unlocking the project.

3 articles · Updated · CBS New York · Jul 9

Groundbreaking began Thursday for 2 World Trade Center, the final commercial office tower at the rebuilt Lower Manhattan complex, with American Express set to occupy the entire building as its headquarters.
The 55-floor, nearly 2 million-square-foot tower is scheduled for completion in 2031 and is expected to house up to 10,000 workers.
More than 3,200 construction jobs are tied to the project, which city estimates say will add $5.9 billion to New York City's economy and $6.3 billion to the state's.
The project had stalled for years after earlier 80-story plans failed to land tenants and the pandemic weakened office demand; officials said the tower is proceeding without city, state or Port Authority incentives.