Hall in lower Manhattan to the Upper West Side, where two branches would lead north into the Bronx. A plan was formally adopted in 1897, and all legal conflicts concerning the route alignment were resolved near the end of 1899. The Rapid Transit Construction Company, organized by John B. McDonald and funded by August Belmont Jr., signed the initial Contract 1 with the Rapid Transit Commission in February 1900, in which it would construct the subway and maintain a 50-year operating lease from the opening of the line. In 1901, the firm of Heins & LaFarge was hired to design the underground stations. Belmont incorporated the Interborough Rapid Transit Company (IRT) in April 1902 to operate the subway. The 14th Street station was constructed as part of the route segment from Great Jones Street to 41st Street. Construction on this section of the line began on September 12, 1900. The section from Great Jones Street to a point 100 feet (30 m) north of 33rd Street was awarded to Holbrook, Cabot & Daly Contracting Company. By late 1903, the subway was nearly complete, but the IRT Powerhouse and the system's electrical substations were still under construction, delaying the system's opening. The 14th Street station opened on October 27, 1904, as one of the original 28 stations of the New York City Subway from City Hall to 145th Street on the Broadway–Seventh Avenue Line. The opening of the 14th Street station turned Union Square into a major transportation hub. With the northward relocation of the city's theater district, Union Square became a major wholesaling district with several loft buildings, as well as numerous office buildings. Initially, the IRT station was served by local and express trains along both the West Side (now the Broadway–Seventh Avenue Line to Van Cortlandt Park–242nd Street) and East Side (now the Lenox Avenue Line). West Side local trains had their southern terminus at City Hall during rush hours and South Ferry at other times, and had their northern terminus at 242nd Street. East Side local trains ran from City Hall to Lenox Avenue (145th Street). Express trains had their southern terminus at South Ferry or Atlantic Avenue and had their northern terminus at 242nd Street, Lenox Avenue (145th Street), or West Farms (180th Street). Express trains to 145th Street were later eliminated, and West Farms express trains and rush-hour Broadway express trains operated through to Brooklyn.