Leading figures including Kathryn Garcia, Executive Director of the Port Authority, Mayor Zohran Mamdani, and Kevin O'Toole, Chairman of the Port Authority, attended the groundbreaking ceremony for 2 World Trade Center on 9th July. City representatives, American Express executives, and trade workers gathered on Thursday morning in Lower Manhattan to mark the start of construction for Silverstein Properties' Tower 2 World Trade Center.
The 55-storey, 1,226-foot-tall skyscraper at 200 Greenwich Street will serve as the future global headquarters for American Express. The company's comprehensive agreement to occupy nearly 2 million square feet as the tower's sole anchor tenant was announced in February.
Lisa Silverstein, CEO of Silverstein Properties, acknowledged the start of construction for what her father, Larry Silverstein, had promised back in 2001 after the terrorist attacks of 11th September 2001, which devastated the site and the city. She described it as a significant milestone for the city, American Express, and Silverstein Properties, symbolising the triumph and potential achievements in this country following the events of nearly 25 years ago.
Larry Silverstein, aged 95, was unable to attend on Thursday, as his daughter announced. She expressed hope that he would join her for the anticipated inauguration ceremony in 2031. Silverstein praised the partners in the deal at American Express, including Denise Pickett, President of Enterprise Shared Services, and CEO Stephen Squeri, whose unwavering confidence and shared vision had brought the project to fruition over several years.
Economic Impact and Community Commitment
Mayor Zohran Mamdani spoke about the economic opportunities the project will create, including more than 3,200 direct and indirect construction jobs. Upon completion, an additional 10,000 employees will be housed in the tower, which Mamdani stated is estimated to contribute $11.4 billion to the city's economy, including nearly $250 million in tax revenue.
Mamdani emphasised that American Express has considered Lower Manhattan home for over 170 years and has been headquartered there for 40 years. This commitment has endured years of tragedy and economic downturns, overcome pandemics and hurricanes, and shaped the lives of thousands of New Yorkers.
Kathryn Garcia, Executive Director of the Port Authority of New York and New Jersey, and Kevin J. O’Toole, Chairman of the Port Authority, also spoke. Garcia stated that markets rise and fall, headlines change, but there is a need to build for the next generation, and that is precisely what Silverstein Properties and American Express are doing today.
Acknowledgement of Commitment and Musical Accompaniment
Gary LaBarbera, President of the Building and Construction Trades Council of Greater New York, lauded the commitment of Larry Silverstein as well as the trade workers involved in rebuilding the site. The event was rounded off by the Borough of Manhattan Community College Downtown Chorus, who delighted with a performance of Frank Sinatra's “New York, New York” before the assembled speakers dug their spades into the sand.
