workers, and relocating hallways to create better access to stairwells. History Cities Service had completed the neighboring 70 Pine Street in 1932 and occupied it until 1975, after which that building was acquired by American International Group (AIG). The Bank of New York (BNY), meanwhile, had occupied the adjacent building at 48 Wall Street since it was completed in 1929, though BNY had maintained an office at that site since 1797. After the sites at 54 through 70 Wall Street had been leveled in 1974, the vacant lot was considered as a location for the American Stock Exchange and the New York Stock Exchange, though neither proposal happened. AIG and BNY jointly owned 52 Wall Street, and AIG alone owned the parking lot at 54–70 Wall Street. By the late 1970s, several major office buildings were planned for the Financial District. Planning Early plans By late 1979, AIG and BNY were planning an office building to replace the parking lot and 48 and 52 Wall Street. The building would have been 60 stories tall with either or , with a proposed cost of $450 million. AIG hired Welton Becket & Associates, which designed one plan for the site, while BNY hired John Carl Warnecke, which designed two plans. The Welton Becket plan called for preserving some of the lower floors at 48 Wall Street into a slab-shaped tower. One of Warnecke's plans called for a square tower turned on its axis, with a slanted roof, which was nicknamed "Son of Citicorp" after Citicorp Center. The other Warnecke plan was "Son of 30 Rockefeller Plaza", which consisted of a taller tower for AIG and a shorter tower for BNY rising from a single base. While neither 48 nor 52 Wall Street would have been preserved, the lower stories of 48 Wall Street would probably have been incorporated into the new towers. One of the two structures on the site, 52 Wall Street, was being demolished by 1981. One worker was killed by a falling steel beam during the demolition of 52 Wall Street. BNY had bought out AIG's share in the site by then, and there was little public objection to the demolition of 52 Wall Street. Even the proposed demolition of 48 Wall Street, an architecturally distinguished building with eagle ornamentation, did not raise concerns. To reduce the cost of the new headquarters, BNY asked the city's Industrial Commercial Incentive