https://www.cnbc.com/2018/05/18/the-world-trade-center-is-finally-nearing-completion.html
It's finally happening. More than
16 years after the World Trade Center tragedy, a major component of the rebuilt
WTC site is getting ready to open.
3 World Trade Center will be
opening in early June, with lead tenants including music streaming firm Spotify
and advertising giant GroupM. It will join 1 and 4 World Trade Center, the
other two major buildings on the site, along with 7 World Trade Center on
Greenwich Street.
The completion of this phase of
the World Trade Center comes as the Financial District of New York is
experiencing a renaissance.
I was at the World Trade Center
during the Sept. 11 tragedy and worked at the NYSE in the immediate years
after. The Financial District was filled with vacancies and remained relatively
sparsely populated in those years.
And then, it began to change.
"It's a very different
neighborhood than it was in 2001— it's very different than it was even five
years ago," Jessica Lappin, president of Alliance for Downtown New York,
told me. "We still have financial firms, but what's been amazing is to see
tech, media, advertising firms — companies like Spotify and Group M — move down
here as well and really change the face of the workforce and the feel of the
neighborhood."
Today, the commercial vacancy
rate is below 10 percent, thanks to the infusion of those tech, media and
advertising firms like Omnicom Media.
And many people now call it home:
61,000 people live in the Financial District, more than ever before, most of
them young professionals.
And there are tourists galore, so
many you can barely walk down some streets. Nearly 14 million came downtown in
2017 to visit Wall Street and the 9/11 Memorial, an 8 percent increase from
2016.
The hotel business is booming as
well: there are 7,000 hotel rooms in 32 hotels downtown, with another 2,000
under construction.
The World Trade Center
Transportation Hub, known as the "Oculus," was completed two years
ago and serves 250,000 commuters a day.
The formerly rundown Seaport
District is bustling with new shops and businesses, including new restaurants
by Jean-Georges Vongerichten and David Chang. Live Nation is opening a
3,400-person rooftop entertainment complex in August that will kick off with
performances by Amy Schumer. Sports television giant ESPN also unveiled its new
production studios on Pier 17.
Plus, construction on the Ronald
O. Perlman Performing Arts Center began last year, and it is expected to open
in 2020.
As for the Trade Center, it's
taken awhile, but the nearly 8 million square feet of space at the three main
buildings is slowly being filled. 1 World Trade Center is now nearly 80 percent
leased. Even the newly opening 3 World Trade center is nearly 40 percent
leased, and 4 World Trade Center is 100 percent leased.
With so much going on, downtown
leaders are trying to improve traffic flows around the New York Stock Exchange,
a major business, tourist and business destination. They've also proposed
moving the now-iconic Wall Street bull, as well as the Fearless Girl, from
their present location in lower Broadway to right in front of the NYSE.