"JPMorgan Chase is a tremendous addition to the new downtown. Like the Goldman Sachs headquarters and the speedy lease-up of 7 World Trade Center, it proves again that downtown has re-emerged as the financial capital of the world."
- Larry Silverstein, World Trade Center Developer

5 World Trade Center

Located on the southernmost portion of the World Trade Center (WTC) site, 5 World Trade Center will be developed by the Port Authority of New York and New Jersey.  In September 2006, as part of the Master Redevelopment Agreement for the World Trade Center site, the Port Authority assumed responsibility for construction of this tower.

Designed by the architectural firm of Kohn Pederson Fox, it will stand on the site currently occupied by the remains of the Deutsche Bank building, which was irreparably damaged by the terrorist attacks of September 11, 2001. The 40-story building's decontamination process began in early 2006, when crews from Bovis Lend Lease erected scaffolding and elevator hoists and installed new netting around the exterior. Interior abatement followed, and included environmental cleaning and removal of all interior surfaces and non-structural elements in the building.

The actual floor-by-floor deconstruction commenced in March 2007, but was suspended after a fire on August 18, 2007 that damaged floors 13 through 18. At the time, the building had been deconstructed to the 26th floor; the search for potential human remains in the building concluded in early June 2007.

The tower was deemed structurally sound immediately after the fire, and soon the project managers instituted several safety improvements. They included repairing the fire standpipe, using fire-resistant materials and equipment, rebuilding safety structures, centralizing the negative-air-pressure and electric controls, and improving emergency access and egress points.

The city’s stop-work order was lifted at 130 Liberty Street in April 2008, and decontamination resumed in May 2008 with constant fire department and environmental oversight and monitoring. Crews wrapped up abatement in September 2009, with deconstruction resumed in November 2009.