Verizon announced plans Tuesday to open a co-working space in lower Manhattan in collaboration with Grind, an operator of co-working communities.

“With a rapidly growing tech sector in New York City, and a desire by those firms for high-speed connectivity, reliability and stability, our building will be getting new life as a center of innovation and collaboration,” Verizon’s senior vice president of Global Real Estate John Vazquez said. “We expect this location – and possibly others across the country – will be a dynamic work environment where start-up and creative entrepreneurs can form vibrant interdisciplinary communities geared toward collaboration and innovation.”

The new space will be located at 140 West Street – across from One World Trade Center – and will include more than 10,000 square feet of floor space with an open workspace, team rooms, conference rooms and meeting spaces. The site is expected to accommodate around 120 people each day.

The facility, which is expected to become operational in early 2016, will be open to startups and entrepreneurs to access a “networked community of diverse talent and expertise,” the company said in a press release. Members taking advantage of the space will have access to broadband and other platform technologies, Verizon said, and mentorship will be provided by Verizon Ventures.

Verizon said the new site will be a test bed from which it may launch other co-working spaces in collaboration with Grind throughout New York City and other tech communities across the country.