Chinese Firm to Sign 1st Corporate WTC Tower Lease

The Port Authority plans to announce today that it's signed the first commercial tenant for a skyscraper that will go up where the Twin Towers stood. WNYC's Bob Hennelly has more.

REPORTER: Bejing Vantone, a Chinese firm that promotes trade between the US and China, will lease five floors in the tower slated to be up by 2013.

This announcement also marks a subtle re-branding of the beleaguered project. The official paper work no longer makes any reference to the so-called Freedom Tower. Instead it will be simply one World Trade Center.

In addition to the one tenant, the Port Authority expects government agencies to lease a million square feet of the 2.6 million square foot building. Meanwhile behind the scenes, the agency is still negotiating with developer Larry Silverstein on how it can help him finance a portion of his part of the complex. For WNYC I am Bob Hennelly.