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