JP Morgan releases WTC tower plans

Renderings done of the JPMorgan Chase tower planned for the WTC site. (Handout / June 21, 2007)

By Marlene Naanes, amNewYork Staff Writer | MNaanes@am-ny.com

June 22, 2007

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The Port Authority made it official Thursday -- JP Morgan Chase will pay $300 million to build a 42-story building at the site of the new World Trade Center.

The bank will pay $10 million of that price tag to the World Trade Center Memorial Foundation and St. Nicholas Greek Orthodox Church, whose house of worship was destroyed in the collapse and whose replacement will rise next to the Morgan building. It's unclear how much of that sum will go to either. The $290 million lease will end in 2100.

The Port Authority released artist's renderings of the bank's building Thursday, showing that its footprint will measure 32,000 square feet. Several floors up, the building will jut out, housing about seven trading floors, with floor plans of between 50,000 and 60,000 square feet.

Those floors mostly fall directly over the site of the rebuilt church, but Port Authority officials said the design would reduce shadows cast on the memorial park.

It is unclear how the church will be affected and architects will now craft a scale drawing of the building.

"It actually offers some interesting opportunities for lighting and making the church an even more splendid contribution to the community," said Port Authority Executive Director Anthony Shorris.

Officials at the church did not comment about the plan Thursday.

The building is one of five skyscrapers planned for the trade center site.

Commercial businesses will also set up shop in about 45,000 square feet in the building, which will rise on the site of the old Deutsche Bank building, which was heavily damaged in the collapse and is being gradually taken down.