Rendering of new branch at 50 Salem Street (Image courtesy of Chase Bank)

Using a rendering of a branch at 50 Salem Street in Boston’s North End, megabank J.P. Morgan Chase announced a large scale expansion in the Boston area with over 60 new bank branches and 130 ATMs. The announcement came Monday by Chase executives participating in the “Forbes Under 30” summit at City Hall Plaza.

The rendering location is at high profile corner along the Cross Street plaza where Peet’s Coffee recently closed which had a two year run after Goody Glover’s bar and restaurant occupied the location for twelve years.

The news also comes just after both North End / Waterfront neighborhood groups (NEWNC and NEWRA) voted to oppose a new Citizens Bank branch on the same block at Charter Realty’s 198 Hanover Street development.

The Cross Street plaza area became highly controversial when Charter Realty proposed a Starbucks Coffee at the North End “gateway” site across from the Greenway’s North End parks. The Starbucks proposal is unlikely to move forward after Boston Mayor Walsh opposed the proposal. However, city officials have not yet opined on the bank branch proposals.

H/T Adam Castiglioni @ConciergeBoston


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21 COMMENTS

    • The owner of the building where Chase Bank is going to locate DID NOT go before the neighborhood for Goody Glover or Peets. Not sure what the zoning is for that location but they have gotten away with going around neighborhood groups twice.

    • Neighborhood groups are advisory only. They offer no legal standing, and are therefore not required in any approval process.

  1. It’s what we deserve after nimbying literally every decent proposal. Now just add Duane Reade in the Bread & Butter vacancy.

  2. So much for the welcome gates to the North End. No use trying to fight it out because it does no good. So, does citizen ATM stay at the right — on Hanover Street side? And Chase is at the left — on Salem Street side. U G L Y

  3. I think the residents of this neighborhood need a class on private property laws.

    Just because you don’t think a bank should be there you cannot stop it. Not NEWRA and not the city. It’s just not legal to stop it.

    The neighborhood was able to stop Starbucks due to a zoning law centered around food take out. Only reason why the city was able to stop it.

  4. We could care less about the laws at this point. Cross Street has been an issue, and after all the talk, we end up with banks……’bookends’ on the valuable Cross Street property……and that space calls for something more authentic for the North End.

  5. Even though it may be perfectly legal for a new bank branch to open here on Cross Street, this space should be filled by something more authentic to the neighborhood. Another chain business here is just not going to make this space and the North End any better. A bank here will not enliven this space after dark or Saturday afternoons and Sundays. The last thing we need in the neighborhood is another bank. I hope that Chase Bank will withdraw its proposal for this space.

    • Adam: Well, you said it all. Authentic is what we need, as I wrote. You also brought up safety issues which I failed to do and they are important for that area.

  6. so frustrating that a Chase bank is now coming after NEWRA turned down the Citizens proposal. Wouldn’t we prefer to have at least a New England bank in the North End??

  7. People the rent here is $10,000 per month. You are not going to get an Italian mom and pop store selling homemade statues. Ain’t happening. Not how it works. You live in a fairy tale if you believe that.

  8. Why don’t the people who are always complaining about what should go into that space get together, pool their $$$$ and create a more authentic business to operate there.

    • Mikey is right. This is what happens when North End properties are sold to outside investors who only care about squeezing out the last possible rental dollar from their buildings by leasing to the highest bidder. All you will get is more chain stores, banks, and high end restaurants with overpriced cocktails and wine menus.

  9. Well, I believe it’s called a free market system. Some other Mom & Pop sold that property at market value to a commercial entity and that Mom & Pop are probably living comfortably somewhere else. Some new Mom & Pop could have easily been the ones who bought it and could have opened something everyone thought was suitable for The Gateway to the North End. But the free market has made that scenario increasingly unlikely.

Comments are closed.