Immediately after the purchase, Irving Trust's board of directors founded a sub-committee for construction oversight, and several Irving Trust employees formed the One Wall Street Unit to coordinate logistical planning for the new skyscraper. Thirty-five potential architects were identified and interviewed extensively. Ultimately, in June 1928, Voorhees, Gmelin and Walker was hired to design the structure, and Marc Eidlitz was hired as builder. Voorhees, Gmelin and Walker filed plans with the Manhattan Bureau of Buildings the next month. The initial plans called for a 46-story building, on a plot of . In October 1928, local newspapers reported that Irving Trust had accepted "final plans" for a 44-story building rising . The actual final plans, filed in June 1929, provided for a 50-story structure.