JPMorgan New High Rise to Include 100% Renewable Energy

JPMorgan Chase & Co., behind the replacement of its tower at 270 Park Avenue, Manhattan, NYC, plans a major investment in the new office building for the company’s global headquarters, FOX Business reports. The plan for the 1,388-ft-tall tower will include New York City’s largest all-electric skyscraper, drawing from a hydroelectric power source 100% run by renewable energy. The new tower will replace a 1950s building that housed about 3,500 employees. The new building will house 14,000 workers and offer more than twice the amount of outdoor space compared to the original. The design, by Foster + Partners, will contribute to the city’s job market by creating 8,000 construction jobs from across 40 local unions. The construction of the tower will contribute US$2.6 billion to NYC’s economy, plus a reported US$3.6 billion for the state. City officials championed the plan, with NYC Mayor Eric Adams saying the project will “catalyze additional investment” that will focus on the economy and the environment. The building is rising at the site of the original JPMorgan 707-ft. building. Completion is expected around the end of 2025.