Inside JPMorgan’s New ‘Workplace of the Future’ HQ Building
When JP Morgan & Co.’s 23 Wall Street HQ building – affectionately known as the ‘House of Morgan’ by workers – was opened in New York in 1914, it was widely celebrated for its architecture and craftsmanship.
Though diminutive by today’s standards, the four-storey building was even lauded by one New York real estate journal as ‘a rival to the Parthenon’.
If that was the sentiment, then it begs the question as to what that same journal would make of its successor.
On 21 October, the global financial services firm officially opened its colossal new global headquarters building at 270 Park Avenue – a US$3bn skyscraper designed by Foster + Partners and billed as the workplace of the future.
The JPMorganChase Tower rises a quarter of a mile over the city, will accommodate 10,000 employees and is designed with a focus on sustainability, wellbeing and smart technology.
Speaking at the opening ceremony, JPMorganChase Chairman and CEO Jamie Dimon says: “For more than 225 years, JPMorganChase has been deeply rooted in New York City. The opening of our new global headquarters is not only a significant investment in New York but also a testament to our commitment to our clients and employees worldwide.
“By creating world-class environments where our employees can thrive, we are strengthening our ability to serve our clients and communities – locally and globally – for generations to come.”
- Cost: US$3bn skyscraper designed by Foster + Partners
- Size: Quarter-mile tall tower accommodating 10,000 employees by end of 2025
- Sustainability: Largest all-electric tower in New York with net zero emissions, powered by hydroelectricity
- Water efficiency: Advanced storage and reuse systems reduce water usage by more than 40%
- Public space: Cantilevered structure delivers 2.5 times more public space at ground level than predecessor, including a garden
- Wellbeing focus: Outdoor air ventilation rate of 40 cubic feet per minute per person—twice the building code requirement
- Recycling achievement: 97% of demolition materials from previous building were recycled, reused or upcycled
- Economic impact: JPMorganChase contributes US$42bn annually to NYC's economy and supports 40,000 jobs across local industries
Designing for the future
Foster + Partners began development work on the building in 2018, creating a design inspired by New York City’s grid system and the tradition and grandeur of the original building.
Challenging conditions at the site led to the innovative fan-column structure and triangular bracing that lifts the building approximately 80 feet off the ground while still integrating its foundations with the complex train infrastructure beneath the city.
“This is a somewhat unusual tower,” says Foster + Partners Founder and Executive Chairman, Lord Norman Foster. “It’s different, and it’s different for positive reasons.”
We are strengthening our ability to serve our clients and communities – locally and globally – for generations to come.
One of those reasons is the commitment to sustainability and employee wellbeing that drove the project.
The building is the largest all-electric tower in New York with net zero emissions, according to JPMorganChase.
“The tower is hydro-powered to minimise its carbon footprint,” adds Foster. “The unique cantilevered structure, clad in bronze, delivers two and a half times the amount of public space at the base, including a garden, than its predecessor.
“The unparalleled range of venues and leisure activities, couple to tall spaces with generous natural light and high levels of fresh filtered air (twice that of building codes), combine to set new standards of wellbeing. It is the workplace of the future designed for today.”
Setting a new standard for workplaces
The tower is designed to achieve LEED Platinum v4 and WELL Health-Safety ratings, and uses intelligent building tech like sensors, AI and machine learning systems to predict, respond and adapt to energy needs.
Foster + Partners has also sought to minimise its environmental footprint through features like advanced water storage and reuse systems that reduce overall water usage by more than 40%, triple-pane automated solar shades and recycling, reusing or upcycling 97% of demolition materials.
The health and wellness of the 10,000 people who will work in the building by the end of 2025 is critical, too.
Its eight trading floors allow for better team integration and improved functionality when it comes to trading operations.
At the centre of the tower, a triple-height ‘Exchange’ acts as a community hub with 16 venues, as well as spaces for town halls and larger gatherings.
The building also features a state-of-the-art health and wellness centre and a curated art program – including works of art by Maya Lin, Leo Villareal, Gerhard Richter, Refik Anadol, and Norman Foster.
Its approach to wellbeing also draws on stats from Harvard Business Research into the effects of fresh air on cognitive function, providing an outdoor air ventilation rate of 40 cubic feet per minute per person.
How JPMorganChase boosts New York City
JPMorganChase is one of New York City’s largest employers and contributors to the local economy, contributing US$42bn annually to the city’s economy and supporting an additional 40,000 jobs across local industries.
The tower, it says, is part of its broader investment in Midtown Manhattan, where the firm worked closely with the Metropolitan Transportation Authority to significantly improve the neighbourhood’s infrastructure across several blocks.
The opening of 270 Park also marks the start of renovations at the firm’s 383 Madison Avenue building, directly across the street.
Both projects will enhance public spaces with a new plaza on Madison Avenue, wider sidewalks, and improved access to Grand Central Terminal.
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Jamie Dimon
Chairman of the Board
