World Trade Center Tower 5Edit profile
Five World Trade Center, also referred to by its street address, 130 Liberty Street, was a planned new World Trade Center building to be located in New York City. It will be located on Site 5 of the new World Trade Center complex, but not exactly on the main 16-acre (6.5 ha) plot of land as the other four buildings. It was originally to be built on the site of the former Deutsche Bank Building. In June 2007, it was announced that financial service JPMorgan Chase planned to develop the building as a new J.P. Morgan Investment Bank world headquarters; however, JPMorgan's March 2008 acquisition of Bear Stearns has put the future of the 130 Liberty Street site in question, as the company is now planning to relocate its J.P. Morgan Investment Bank headquarters to 383 Madison Avenue.
As of August 2011, no plans have been known to exist on building of WTC 5.History
Tower Five was expected to be designed for residential or mixed use in the original master plan for the complex. The building was to have a height limit of 900 feet (270 m) and up to 1,500,000 square feet (139,000 m2) of space. Negotiations over the World Trade Center site concluded in April 2006 with private developer Larry Silverstein yielding his right to develop on the site designated for One World Trade Center along with Tower Five to the Port Authority of New York and New Jersey in exchange for assistance in financing Towers Two, Three, and Four.
The Deutsche Bank Building had been undergoing destruction since March 2007. Work along Liberty Street is currently preparing the northern quadrant of the site for development. On June 22, 2007 the Port Authority of New York and New Jersey announced that JPMorgan Chase will spend $290 million to lease the site until the year 2011 for a construction of a 42-story building.Future
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 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.One World Trade Center and 150 Greenwich Street would be the only two buildings to be constructed as previously planned.
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.
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 Freedom Tower), 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.
On February 28, 2011, the Deutsche Bank Building demolition work was completed, and construction of another WTC project, the Vehicular Security Center & Bus Parking Facilities has begun. No construction for Tower 5 is currently planned.
As of August 17th, 2011, no plans have yet been released to build the final tower Five World Trade Center. Construction is continuing on the bus and taxi search area. This is due to last until early September 2011.Design
The tower was designed by Kohn Pedersen Fox. It called for a 42-story building with a seven floor cantilevered section starting at the 12th floor. This section of the building would have housed the JPMorgan Chase's large trading floors and rise above the new St. Nicholas Greek Orthodox Church.