Redevelopment Plans for 5 World Trade Center Change Direction

The space where the Deutsche Bank building once stood was intended to host the only residential project in the World Trade Center’s renewal. However, those plans are now uncertain. Gov. Kathy Hochul’s office disclosed the shift in approach while still aiming for a dynamic mixed-use development.

In the years following the September 11 attacks, various structures, including office towers, a museum, and a church, have been built at the site of the World Trade Center. Still, a section to the south remains undeveloped. This location was marked for 5 World Trade Center, anticipated to be the sole residential skyscraper in the area.

In 2023, Gov. Hochul announced the project, asserting a quick timeline with construction expected the following year. However, three years on, an asphalt lot enclosed by a fence is all that occupies the space. This represents the only portion of the site not yet reconstructed. The Port Authority of New York and New Jersey, the Lower Manhattan Development Corporation, and the governor’s office, who jointly oversee the site, have acknowledged that the original plan will not continue.

Kristin Devoe, spokeswoman for Gov. Hochul, stated, “While the current plan is no longer moving forward, the governor remains committed to ensuring this site delivers on what was promised with a vibrant, mixed-use project that honors the broader vision of the World Trade Center campus.”