Govs Tap Legends for WTC Observatory

NEW YORK CITY-Govs. Andrew Cuomo of New York and Chris Christie of New Jersey said Tuesday that Legends Hospitality LLC would develop and operate the observation deck at the top of One World Trade Center. The selection will provide the Port Authority of New York and New Jersey with a projected $875 million in revenue over the term of the 15-year lease, reportedly the largest amount of any of the submitted bids. Both governors called on the Port Authroity's board to approve the agrrement at its monthly meeting on Wednesday.

“Bringing a world-class observation deck to One World Trade Center will provide millions of New Yorkers and visitors from across the region and around the globe with an unparalleled viewing experience of the greatest city in the world,” Cuomo says in a statement. He adds that the agreement with Legends “builds on the tremendous progress we have made at the World Trade Center site over the past couple of years and marks the continued rebirth of Lower Manhattan. The observation deck will add hundreds of jobs in New York and add to the resurgence of the state's economy.”

The agreement with Legends, which handles a variety of services at venues that include Yankee Stadium here and Cowboys Stadium in Dallas, provides significant private capital for the WTC site without any additional state or Port Authority investment, according to a release. The projected revenue is a mix of fixed and variable rent over the course of the lease.

To be known as One World Observatory, the venue is projected to draw an estimated 3.8 million annual visitors to the top of what will be the tallest building in New York City and the Western Hemisphere when completed. Before 9/11, the South Tower at the former WTC complex featured an observation deck that was among the most successful tourist attractions in the country.