JP Morgan Chase to put regional campus in Plano

January 7, 2016

Banking and financial services company J.P. Morgan Chase & Co. has signed a letter of intent to develop a new regional campus in Plano's Legacy West to bring 6,000 North Texas employees.

The $2 billion mixed-use development long has been rumored as the top choice for J.P. Morgan Chase's project.

"Because JPMorgan Chase is committed to the Dallas-Fort Worth market, we’re making a significant capital investment in building a world-class campus at Legacy West in Plano," J.P. Morgan Chase Spokesman Greg Hassell said. "This campus will serve more than 6,000 employees and support all of our lines of business."

Construction is expected to begin this year. The company has yet to name an architect or general contractor for the new multi-building campus.

The new campus will make it easier for the company's employees to collaborate on business and will reduce J.P. Morgan Chase (NYSE: JPM)'s real estate operating costs in Dallas-Fort Worth. With the savings, the company plans to reinvest in its campuses, Hassell added.

For the past year, J.P. Morgan Chase has been shopping for 50 acres to 75 acres of land from Las Colinas to McKinney to the north end of the Dallas North Tollway.

The site would ultimately house a 1 million-square-foot campus for about half of the firm's North Texas employees (they have more than 12,000 employees in the region).

Jeff Staubach, Russell Cosby and Torrey Littlejohn of JLL, along with Jeff Ellerman, Scott Hobbs and John Ellerman of CBRE, had been helping J.P. Morgan Chase with the real estate search.

Source: Dallas Business Journal

Chase’s planned Legacy West campus in Plano is getting bigger

February 2, 2016

JPMorgan Chase’s new Plano office campus is getting bigger.

The financial services and banking giant is buying almost 50 acres in the Legacy West development near the southwest corner of State Highway 121.

Chase’s new regional business center will include more than 1.4 million square feet of office space in six buildings, according to plans filed with the City of Plano. The office buildings will be as tall as eight floors.

There are also three large parking garages to be built on the development site located between S.H. 121 and Headquarters Drive.

The buildings are connected by paved esplanades and landscaped areas.

And a large park area with an “amenity feature” planned for the north corner of the campus on Communications Parkway.

The campus is projected to cost almost $300 million and will open starting in 2018.

Architect HKS is designing the project.

Chase has retained seven acres of undeveloped land at the west end of its property where it can construct additional office space in the future, according to the detailed design documents.

Chase disclosed in early January that it plans to relocate almost 6,000 North Texas workers to the new Plano project.

The bank picked the $2 billion Legacy West development after looking at options along the Dallas North Tollway in Plano and Frisco.

Chase will join Liberty Mutual Insurance, Toyota and FedEx Office with large employment centers at Legacy West. Within two years more than 15,000 people will be working in the Legacy West project – making it one of the largest new job centers in the state.

All but about 20 acres of the 240-acre Legacy West project are committed for developments.

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