US banking group JPMorgan Chase has chosen London architect Foster + Partners to design a Manhattan replacement for its present headquarters.
The bank announced in February that it was planning to demolish its office tower at 270 Park Avenue, commonly known as the Union Carbide Building, and replace it with a 232,000 sq m skyscraper that was up to 150m taller.
In March, its plans moved forward when it struck a deal with a neighbouring church to acquire development rights to 51,600 sq m of "air rights", allowing it to go taller.
Foster will serve as the lead architect on the project, where it will follow up its 425 Park Avenue, another office block under construction a few blocks to the north for L&L Holding. Other notable neighbours are buildings by Mies van der Rohe, Eero Saarinen and Philip Johnson.
The bank has not disclosed any details of the design, but it did say work would begin next year, once it is granted regulatory approval.
The glass and steel Union Carbide building was finished in 1961 and designed by Skidmore, Owings & Merrill.
Image: JPMorgan Chase is based on Park Avenue (Dreamstime/Roman Tiraspolsky)