Move expected to bring hundreds of new jobs and boost downtown economic activity
BOSTON — JPMorganChase announced plans to relocate its Boston operations to the newly developed South Station Tower, a major milestone that underscores the firm’s long-term investment in the city and signals a broader economic boost for downtown Boston.
The move, expected to begin in early 2028, will establish JPMorganChase as the anchor commercial tenant in the 51-story tower. The firm will occupy more than eight floors, accommodating up to 1,000 employees, with plans to add hundreds of new jobs in the coming years.
Developed by Hines in partnership with APG Asset Management and Dune Real Estate Partners, the tower will deliver approximately 680,000 square feet of next-generation office space in the heart of Boston’s financial district.
City officials and business leaders say the relocation represents a significant win for Boston’s economy.
Michelle Wu welcomed the announcement, noting that the investment will strengthen downtown Boston and create new employment opportunities.
JPMorganChase already maintains a strong presence in the city, employing more than 1,600 people across corporate offices and retail branches. According to an independent analysis, the firm contributes over $1.4 billion annually to the local economy, supporting roughly 1,000 additional jobs across sectors such as retail, dining, and professional services.
As part of its expansion, JPMorganChase plans to add more than 300 new roles across its business lines in the coming years. The company has also steadily grown its retail footprint in Massachusetts, operating 92 Chase branches statewide since entering the market in 2018.
Executives say the new headquarters will bring together teams from across divisions, fostering greater collaboration, innovation, and client service, particularly in high-growth sectors like technology, healthcare, life sciences, robotics, and artificial intelligence.
A Transit-Oriented Workplace Hub
Located above one of the region’s busiest transit hubs, South Station Tower is designed to offer direct access to public transportation, along with modern amenities and sustainable building features.
Hines officials emphasized that the project reflects increasing demand for high-quality, transit-connected office space, particularly from large employers seeking to attract and retain top talent.
Beyond its commercial expansion, JPMorganChase has also committed significant resources to community development in the Boston area. Since 2019, the firm has invested more than $31 million in local nonprofit organizations, supporting initiatives focused on workforce development, small business growth, and financial health.
With its planned move to South Station Tower, JPMorganChase is positioning itself as a central player in Boston’s next phase of economic growth, reinforcing the city’s appeal as a destination for global companies and talent alike.
