On completion in late 2013 or early 2014, One World Trade Center formerly known as Freedom Tower will stand 541.3 meters (1,776 feet) tall from the ground to the spire, with 104 floors – dwarfing the 1930s achievement of the Empire State Building.
The 1,776 feet height was chosen to commemorate the signing of the Declaration of Independence.
“New York City skyline is, once again, stretching to new heights. The latest progress at the WTC is a testament to New Yorkers strength and resolve – and to our belief in a city that’s always reaching upward,” Mayor Michael Bloomberg said.
Although One World Trade Center will be the tallest building in the western hemisphere, the world’s tallest building will remain Burj Dubai in Dubai at 828.1 meters (2,717 feet).
The project is being undertaken by Tishman Construction (the same firm that erected the Twin Towers in the 1960s) at a cost of US$3.9 billion – a figure that has risen from a US$3.1 billion estimate projected a year ago.
The Port Authority of New York and New Jersey owns a majority stake in 1 World Trade Center.