Development 3 World Trade Center

preliminary site plans world trade center rebuild.

by beginning of 2012, silverstein properties , port authority of new york , new jersey reached agreement build 3 world trade center 7 stories, unless tenants can found fund building. according march 2010 agreement between silverstein properties , port authority, silverstein properties must find tenants lease 400,000 square feet of building , must raise us$300 million in private financing in order receive additional funding. if silverstein properties meets triggers, port authority, city of new york, , new york state provide additional us$390 million towards tower s completion. silverstein properties needs provide financing remaining cost of tower before can completed. existing foundation of tower built entirely insurance proceeds, , until silverstein properties meets requirements. agreement implemented cash trap make sure public investments paid off before silverstein properties makes profits tower.

the tower portion of 3 world trade center built after meeting requirements. silverstein properties optimistic leases signed. spokesperson speaking on issue of rebuilding site commented: 3 wtc should 2015; although; have 1 milestone hit: need 400,000-square-foot tenant in order financing backstop makes sure complete building. so, s question mark, , s major priority of silverstein properties . port authority believes 2010 agreement allow market demand drive construction of towers , limit public investment since port authority has other projects need attention in region.

in late june 2012, david zalesne, president of owen steel, confirmed construction of tower continue , owen steel has been selected provide structural steel building. in july 2013 reported groupm had signed on silverstein properties building s anchor tenant, allow tower resume construction in late 2013. subsidy, have doubled loan given construction of 3 world trade center, postponed port authority of new york , new jersey in april 2014 until june 2014.

by february 2012, ground floor concrete done , lower podium had reached 5th floor. on may 18, 2012 construction update released stated superstructure work continuing, , forms, rebar, , concrete placement work continuing. additionally, utilities site being installed. construction agency expected lower podium reach capped height of 7 stories september 2012. of august 2013, construction on podium complete, , work on rest of podium , tower continue in january 2014, when tower crane returned site.

on june 25, 2014, port authority of new york , new jersey reached agreement larry silverstein finance completion of 3 world trade center, , construction of tower resumed. tower crane has been returned , new anticipated completion late 2017.

in 2015, design modified , height reduced 89 feet (27 m), 1,168 feet (356 m) current height of 1,079 feet (329 m). of june 2015, 3 world trade center s core has risen 19th floor , steel 14th floor. on june 28, 2015, 1 more tower crane built on site. crane arrived in july, bringing total 4 cranes. on may 20, 2016, tower s concrete core reached symbolic height of 1000 feet, officially reaching supertall status , exceeding roof height of neighboring 4 world trade center.

on june 23, 2016, 3 world trade center s core topped out. in ceremony held @ base of building, 2-ton bucket of concrete signed workers, , executives, including developer larry silverstein, , hosted american flag, used topping out of 7 , 4 world trade center, top of tower. on evening of august 11, 2016, construction crane struck 1 of 3 world trade center s windows. there heavy wind gust @ time, , construction workers securing crane when veered 12th-story glass panel, cracking it. no 1 injured.

on october 6, 2016, last steel beam lifted , installed on top. glass facade completed in august 2017, @ point several retailers had signed leases atrium retail space. groupm, advertising company, had signed lease 700,000 square feet (65,000 m) of office space in tower. building expected open in spring 2018.