Trinity Church, which owns the site, had its offices and preschool in the 1927 building. In 2015, the church faced a choice of a $33 million renovation to bring it up to code, or to replace it with a new building at a cost of about $35 million. The vestry decided on the latter and tore the structure down. In its place, it planned to construct a new building with an address of 68-74 Trinity Place.[2]
Originally, 310,000 square feet (29,000 m2) of primarily luxury condominiums with a modern glass facade was planned. Due to community opposition the plans were changed, with a smaller commercial building incorporating community-friendly uses. The new design also uses bronzed aluminum to better fit in with the church and a preserved footbridge from the previous building, and incorporates stained glass and terra cotta embellishments salvaged form the 1927 edifice.[2][3] The third building, known as Trinity Commons, topped out in 2018[4] and opened in 2021.[5]