Home

One World Trade Center Opens; Tenants Move In

One World Trade Center, the building that stands at the site of the twin towers destroyed in the 9/11 attacks, finally opened for business Monday, November 03, 2014.

The building - a symbol of courage and resilience - opened doors to its new tenants that includes publishing giant Conde Nast, which also happens to be the building's anchor tenant.

"The building is open for business. It's a beautiful building, it's a historic building, but it's an office building and it's open for business," Jordan Barowitz, an official of the Durst Organization that developed One World Trade Center with the Port Authority of New York and New Jersey, told the New York Times.

One World Trade Center was set to open earlier this year, but its inauguration was significantly delayed. It was also having troubles finding tenants. Asking rents soared to $75 per square feet for the lower floors. For floors above the 64th level, rents are still hovering between $80 and $100. Many speculated that "security" was also one of the reasons why the One WTC was lying empty.

The Durst Organization denied that the lack of demand was due to security issues because One WTC is one of the safest office buildings. Its core is apparently made of concrete, six times thicker than that of the sidewalk and is built in a way that even if it's hit, people on the top floors can be evacuated easily.

Commercial leasing in the building picked up pace by mid 2014, after the owners reduced asking rents by about 10 percent.

Currently, One World Trade Center is about 58 percent leased. The 1,776-foot building has several leases in its repertoire and a 70,000-square-foot lease deal is also about to be sealed, according to Bloomberg. Bank of America, Morgan Stanley and several other tech companies are also expected to take up space in the building.

"Considering what went on here 13 years ago, it was very tragic, but we are going forward and I think it's wonderful to have this opportunity to work in the biggest building in the western hemisphere," Mary Ann Casey, a paralegal who works with one of the tenant companies in the building, told The Wall Street Journal.

One World Trade Center's opening wasn't just an emotional affair for the employees but was equally moving for the builders and architects.

"It's a fantastic milestone. I was there that fateful day. And to see from where we started to where we are today, it's truly a miracle. It truly is the eighth wonder of the world. And the building itself is truly iconic," Steve Plate, one of the builders who oversaw the construction of One WTC since scratch, told ABC News.

David Childs, one of the two architects who designed the building, told the Journal that it was a "very distinctive building, like a lighthouse would be at the end of an island."

"We built the beehive, but to see all the bees coming and going and being active is exciting. It's not an empty building but you have a real city," Childs added.

"The New York City skyline is whole again, as One World Trade Center takes its place in Lower Manhattan," Patrick Foye, executive director of the Port Authority of New York and New Jersey, was quoted by USA Today.

Below is a time lapse video of One WTC's construction to completion. Also, take a look at the interior photos of the building here.


Join the Discussion
Real Time Analytics