The Consequences of New York's New East Midtown Plan Include Skyscraper Demolition
"JPMorgan Chase announced on Wednesday that it will demolish its headquarters on Park Avenue between 47th and 48th Streets and build a new 70-story world headquarters on the site for its 15,000 employees," reports Charles V. Bagli.
"The building would be the first skyscraper to go up under new zoning rules for the area surrounding Grand Central Terminal, which were designed to encourage the development of taller, more modern skyscrapers and ensure that Midtown remains one of the city’s premier business districts," ads Bagli.
The article includes more details about the proposed demolition and new skyscraper. The article also includes a quote from Mayor Bill de Blasio touting the project as a sign of the Midtown East plan, approved in 2017. For additional perspectives on the skyline changing news, see an article by Jonathan Hilburg, and another for the real estate website The Real Deal.
Planetizen followed the Midtown East rezoning processes through the de Blasio Administration, as well as a previous, unsuccessful attempt at rezoning during the Bloomberg Administration.
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