The World Center Hotel opened on the south perimeter of the developing World Trade Center site Wednesday, becoming the first hotel to open in Lower Manhattan since the September 11th terrorist attacks.

The 20-story building on Washington Street overlooks the site and what will eventually be the 9/11 Memorial & Museum.

Officials say it's a sign that Lower Manhattan is on the rebound.

"It is an area that's being rebuilt, and there's a lot of traffic coming to the area, and we're proud to be a partner in that,” said World Center Hotel Corporate Vice President Cheryl Palmer.

“Right now, people are focused on the tremendous activity that is happening on the site – on the buildings, on the steel that's rising,” said Downtown Alliance President Elizabeth Berger. “But remember, this hotel's gonna be here a long time after there's no more site, and there is office space, and a park, and a memorial, and a museum, and a performing arts center."

There are 170 guest rooms in the hotel.

Just down the block, a "W" hotel is scheduled to open later this year.