Insider Only News Banking Commercial Real Estate New Castle County

JPMorgan Chase marks site improvement milestone with garage

July 10, 2024 |By Katie Tabeling

JPMorgan Chase high rise in Wilmington. July 2024. | DBT PHOTO BY KATIE TABELING|JPMorgan Chase & Co. has opened a new parking garage

Already a subscriber? Log in

To continue reading this article ...

Subscribe to Delaware Business Times right now and get access to subscriber-only content like this article. Plus get 24 issues of DBT via print or digital, special bonus issues, and discounted registration for our in-person events.

Learn More and Subscribe Today

– Digital Partners -

[caption id="attachment_238425" align="aligncenter" width="1024"]

JPMorgan Chase & Co. has opened a new parking garage for its Wilmington Corporate Campus. Material used for the project included a innovative material made of recycled glass. | DBT PHOTO BY KATIE TABELING[/caption] WILMINGTON — While work continues on JPMorgan Chase & Co.’s expansive Wilmington campus plans, the multinational finance company recently marked a significant milestone by completing its parking garage with innovative material. The 703-spot parking garage was opened earlier this summer at the Wilmington Corporate Center off North Walnut Street. JPMorgan Chase representatives said it’s Wilmington's first sustainable parking garage as it uses a new, low-carbon composite material made from ground-up recycled glass bottles. “We’re always looking to innovate when it comes to sustainability. We’re proud to have played a part in bringing this groundbreaking product to market,” JPMorgan Chase & Co. Global Design & Construction Executive Director said in a prepared statement. New York based firm Pozzotive developed pozzolan, the ground-glass composite that has no heavy metals or materials known to be carcinogenic, making it a non-toxic material. Independent testing also has found that the product has 94% less greenhouse gas emissions compared to cement. JPMorgan Chase also partnered with High Concrete Group out of Malvern, Pa. to develop a pre-cast concrete product. JPMorgan Chase is using the same strategy for the floors at its global headquarters in New York City, which includes a 60-story skyscraper. The $596 billion financial giant plans to use the material in some of its 500 new Chase bank branches, particularly in the northeast region. In addition, the new parking garage at the Wilmington Corporate Center includes several electric vehicle chargers, adding more options to the city. According to the Delaware Department of Natural Resources, there are 18 recorded EV charging stations in the city. The new parking garage also brings all of JPMorgan Chase’s parking needs for the city onto its campus on Walnut Street. The new structure serves as a landmark for JPMorgan Chase’s massive plans for office renovations in Delaware. The total investment in its two Delaware campuses, including its Fairfax location, remains undisclosed but representatives have previously said it would hit nine-figures. In all, JPMorgan Chase is renovating all 22 floors of its high-rise off North Walnut Street as well as 11 floors of the Newark Corporate Center off Stanton Christiana Road. In all, the construction and redevelopment impacts 11,500 employees in the state. Other adjustments include modernizing offices with new lighting, standardized sit-stand workstations with dual monitors, grab-and-go snack pantries and meeting spaces that emphasize collaboration with technological upgrades. “It’s the second biggest renovation program in the entire company, besides 270 Park Ave. headquarters,” Chase Delaware Market Leader Tom Horne told the Delaware Business Times in May. “We all know after COVID-19, a lot of people want to work from home. You've got to give them a reason to want to be in the office. I think there’s learning and growth to be found in working in person. But you have to create an environment where people want to work every day. That’s why we’re making the investment in Delaware.”