JPMorgan Chase & Co. JPM, +0.03% plans to consolidate its global headquarters and build a new 2.5 million square-foot headquarters at 270 Park Ave. in New York City.
The new building would replace the company’s current headquarters at the same address. The new building would house 15,000 employees. The current facility was designed in the late 1950s for about 3,500 employees, the company said Wednesday.
JPMorgan expects the project, slated to begin in 2019, to create 8,000 construction-related jobs during the five-year redevelopment and building period. Employees who work in the current building will be relocated nearby during construction, the company said.
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