The building which will be constructed in the place of the World Trade Center in New York City has a significant lack of tenants, and this could hold up construction of the rest of the structure, according to The Associated Press.
The commercial real estate project is worth approximately $11.7 billion. However, Silverstein Properties - which is in charge of the project - will need to fill a significant amount of space in order to continue with the project, the news source noted. At this point, the building has enough confirmations for seven floors worth of tenants, but needs to have 10 floors occupied before it can raise the funding to build the remainder of the building. The project is slated to be 80 stories.
"We are currently speaking with a number of potential tenants and remain fully optimistic that we will sign a lease in time to complete the tower as scheduled in 2015," Larry Silverstein, chief executive of Silverstein Properties, said in a written statement, according to the news source.
The news source added that the construction could potentially halt prematurely at the seventh floor, and this would still allow construction workers to build the rest of the building at a later point.