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5 World Trade Center

5 World Trade Center

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Product Description

Site 5 or the future Five World Trade Center (5 WTC), is located on the southern end of the World Trade Center campus at 130 Liberty Street below Liberty Park and the 9/11 Memorial.

 

As of February 2021, the Port Authority of NY & NJ will exclusively negotiate with Silverstein Properties and Brookfield Properties to develop a future mixed-use tower on the site. The proposed 900-foot tower features 1.56 million gross square feet with approximately 1.2 million square feet of residential units, 190,000 square feet of office space, 55,000 square feet of public amenity space, 12,000 square feet of community space and 7,000 square feet of retail space. Twenty-five percent of the total proposed 1,325 residential units, or approximately 330, will be designated as permanently affordable.

 

This proposed mixed-use development is the result of a request-for-proposals (RFP) announced by Governor Andrew Cuomo in June of 2019, seeking a development team to lease or purchase and redevelop Site 5. The RFP was issued jointly by the Port Authority and the Lower Manhattan Development Corporation (LMDC).

 

The site was previously home to the Deutsche Bank Building, which was extensively damaged on September 11, 2001. LMDC purchased the site in 2004 and completed deconstruction, abatement and excavation in 2011.