270 Park Ave.

NEW YORK CITY—JPMorgan Chase announced plans today to build anew 2.5-million-square-foot headquarters building at the site ofits current headquarters location at 270 Park Ave.

The plan, if approved, would be the first major project to bedeveloped under the city's Midtown East rezoning plan that was approved last year. Thecurrent 50-story, 1.5-million-square-foot 270 Park Ave. designed inthe late 1950s currently accommodates approximately 3,500employees. The building would be replaced by a larger, moreefficient headquarters building that could accommodate 15,000workers.

Although the height for the new building has not been determinedas yet, a JPMorgan Chase spokesperson tells Globest.com thatcurrent plans call for approximately 70 stories.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.