Larry Silverstein’s lifelong quest to rebuild the World Trade Center after 9/11
Real estate magnate Larry Silverstein signed a long-term lease for the Twin Towers weeks before the September 11 attacks and has spent decades leading their reconstruction.
Six weeks before the September 11 attacks, Larry Silverstein, then 70, signed a 99-year lease covering the Twin Towers, two adjacent towers and roughly 40,000 square metres of commercial space at the World Trade Center. A medical appointment his wife insisted he keep prevented him from being at the site when the planes struck, a fact he later recalled as saving his life. Describing the events as the worst day he ever experienced, Silverstein chose to rebuild rather than retire, spurred by his wife's encouragement.
The reconstruction sparked protracted insurance litigation over whether the attacks counted as one or two separate incidents, eventually resulting in substantial payouts. Over the years, the project has drawn massive public and private funding, transforming the area into a sprawling complex of offices, retail, a transport hub, a museum and memorial, and restoring tens of thousands of jobs to lower Manhattan. The final phase, 2 World Trade Center, a 55-storey tower designed by Foster + Partners for American Express, is slated to open in 2031.
