Tishman Speyer acquired the land for the project in 1999. The tower was originally approved by the Planning Commission on April 5, 2001 to rise and 30 stories. A revised plan, adding three stories and raising the height to , was approved on December 13, 2001. However, due to the downturn in the office market after the dot-com bust, developer Tishman Speyer froze the project waiting for economic conditions to improve. In 2006, five years after the building was approved for construction, work on the tower finally began.