The tallest building in the world, the world-class $2.4 billion Shard of the World Trade Center, will be built in New York City by the banks of the Hudson River, Bloomberg News reported on Thursday.
In a statement to the Wall Street Journal, the banks said the tower would create “more than 1 million jobs.”
“We are thrilled that the City of New York has chosen to invest in the construction of the Shard of World Trade,” said the banks’ statement.
“We are committed to the development of our city and the surrounding region and to the continued growth of the U.S. economy.”
Bloomberg News previously reported that the banks plan to build the tower, which is scheduled to be completed in 2020, for $2 billion, according to Bloomberg.
The report said that the bank would lease the building to the developer, SBI Capital Partners.
The tower, at 555 Park Avenue in Manhattan, is one of several skyscrapers planned by the Bank of America Corp. to be built by banks.
A report from Bloomberg last month said the bank is building an 8-story tower on the site of a former steel mill on Manhattan’s Upper East Side.
The new skyscraper will be the tallest in the city’s skyline and would be the largest in the country.