The last commercial office building at the World Trade Center will finally be developed after American Express announced plans on February 25 to build its global headquarters at 2 World Trade Center in Lower Manhattan, moving from its location at 200 Vesey St. after 40 years.
The credit card giant’s new building is being developed on Port Authority of New York and New Jersey property under a long-term lease. Amex is the sole owner and occupier of the building, which is expected to be completed in 2031 at 200 Greenwich Street.
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The project “marks an important milestone for this campus and for the region,” Port Authority President Kevin O’Toole said in a statement. “2 World Trade Center strengthens one of the nation’s most important commerce and transportation hubs and reflects the sustained focus needed to move projects of this scale forward.”
Turner Construction is responsible for building the core and shell of the project, said an Amex spokesman who did not disclose the value of the project.
Foster + Partners is the design architect for the Electric Power Building, which is being developed by Silverstein Properties. The project spans nearly 2 million square feet across 55 floors and will accommodate up to 10,000 workers in flexible workspaces, including more than an acre of outdoor space with multiple terraces and green-filled gardens.
“The design of the American Express building is rooted in sustainability and wellness, to create a state-of-the-art environment that supports the company’s vision for the future,” Norman Foster, founder and executive chairman of Foster + Partners, said in a statement. “A network of terraces and landscaped gardens offers generous outdoor spaces and contact with nature in pursuit of a healthier and more desirable working lifestyle.”
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The development is expected to create more than 3,200 direct and indirect construction-related jobs, officials said, adding about $5.9 billion to the city’s economy and $6.3 billion to New York state.
“As the final piece of the World Trade Center site comes together, New York sees another global financial powerhouse, like JPMorgan Chase last year,” located in Manhattan, Carlo A. Scissura, president and CEO of the New York Building Congress, said in a statement.
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“These giants know that the talent here is worth their investment, and that investment, in turn, draws even more people to New York as they look for a better future,” he added. “Now we need to make New York more affordable by building that potential workforce more housing!”
Construction is expected to begin this spring.
“Our new headquarters will be more than a building, it will be a place for our colleagues to feel energized, inspired and proud, a home for innovation, interaction and growth,” Stephen J. Squeri, president and CEO of American Express, said in a statement. “We are excited to work with our partners and local leaders to shape this exciting new era for American Express and Lower Manhattan.”
