New York City’s Empire State Building will be renamed the Emulation Building, and it will be home to the state’s first solar power plant, according to reports.
The building is located on top of the New York Stock Exchange, which will be named after the state of New York in 2020, the New England Journal of Medicine reported.
The building will be converted into a residential community, which includes an apartment tower.
It is expected to cost $2.5 billion, according the Journal.
Construction of the new Empire State building, known as the Empire State, will begin in 2019, and the building is expected cost $1.2 billion.
It will feature a 12-story apartment tower, which is expected have a height of more than 20 stories, according Business Insider.
The New York Times reported in February that New York would be the first state to build solar energy in its history.
It would be installed on a 1,400-acre site along the Hudson River near New York State University.