The Lower Manhattan Development Corporation announced its decision on Wednesday. It has given Libeskind and THINK three weeks to develop their schemes, with a winner to be selected by the end of the month.
Libeskind's designs feature a 541 m tower, gardens and a cluster of glassy, angular buildings with 70 storeys of office space. The THINK design team, led by architects Rafael Viñoly and Frederic Shwartz, are for two 507 m latticework towers costing more than £300m. Both proposals would lead to the tallest towers in the world.
Foster's design was for two 538 m interlinked towers. The architect claimed that the "kissing" towers would be the world's most green and secure structure.
The Lower Manhattan Development Corporation has stipulated that the site must include up to 1 million m2 of office space, as well as a hotel and shopping centre.