Sunday, August 14, 2011

Current Construction of the New World Trade Center Site

Around 8.3 million square feet of space is currently under construction at the World Trade Center Site.  To put this in context, downtown St. Louis and downtown Milwaukee both have a total of 11 million square feet of office space, so New York is building the equivalent of a medium city downtown in less than 5 years.

Is this too much building?  Perhaps not.  The other contextual number is the amount of current space in Manhattan; the total is about 350 million square feet.  So by building a downtown St. Louis, Manhattan is expanding its office market by only two to three percent.