FOSTER + PARTNERS TO DESIGN NEW JPMORGAN CHASE TOWER

Investment bank and financial services company JPMorgan Chase & Co. has hired Foster + Partners as lead architect for the company's planned new headquarters tower at 270 Park Avenue in New York City, Bloomberg reports. JPMorgan Chase currently occupies a 707-ft., 52-story building at that site but announced earlier this year it would demolish that structure and replace it with a new, 70-story skyscraper that could rise 500 ft. higher and contain 2.5 million sq. ft. of space. Demolition of the current building is expected to begin in early 2019, with the new tower to be completed in 2024. Among Foster + Partners iconic designs is Apple Inc.'s futuristic headquarters building in Cupertino, California.