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Move signals economic boost for Boston as firm plans hundreds of new jobs over next several years
BOSTON
March 17, 2026
JPMorganChase announced today that it plans to relocate to the newly constructed, state-of-the-art South Station Tower beginning in early 2028, marking a significant investment in downtown Boston’s and the city’s economic future.
As the anchor commercial tenant, JPMorganChase will occupy more than eight floors, accommodating up to 1,000 employees, with plans to add hundreds of new jobs in the coming years. South Station Tower, owned and developed by Hines, the global real estate investment manager, in partnership with APG, acting on behalf of its pension fund client ABP, and Dune Real Estate Partners, rises 51 stories and delivers 680,000 square feet of premier, next‑generation office space, establishing a new benchmark for workplace experience in Boston.
The move underscores JPMorganChase’s long-term commitment to Boston, bringing together employees from every line of business under one roof and fostering greater collaboration and innovation. The new space will serve as a hub for the firm’s continued growth in the region, supporting clients in key sectors such as life sciences, healthcare, technology, robotics, and AI.
“I’m thrilled to welcome JPMorganChase as a new headquarters anchor in our city at South Station Tower,” said Mayor Michelle Wu. “This investment will bring hundreds of new jobs, strengthen our downtown, and reinforce Boston’s standing as a place where global companies choose to invest and grow.”
JPMorganChase’s presence in Boston already contributes significantly to the local economy, with more than 1,600 employees working in the city through its corporate offices and Chase branches. An independent study by Vista found that through its operations and employees, the firm contributes more than $1.4 billion annually in local economic output, which stimulates an additional 1,000 jobs across local industries, such as dining, retail, entertainment, and professional services.
“We are excited to deepen our roots in Boston and invest in the city’s future,” said Rick MacDonald, New England Region Manager for Commercial Banking, J.P. Morgan. “The move to South Station Tower represents a new chapter for our firm in Boston and in New England, providing a dynamic environment for our teams and reinforcing our commitment to supporting economic growth and opportunity in the city and across the region.” Mr. MacDonald also serves as Chair of the New England Market Leadership Team at JPMorganChase—a group of leaders responsible for driving local business growth and supporting community engagement.
JPMorganChase’s expansion in Boston includes plans to add more than 300 hundred new jobs over the next several years across all lines of business as well as continuing to open new Chase branches across New England. Since opening its first Massachusetts retail branch in 2018, Chase has grown to 92 branches statewide, reflecting the firm’s ongoing investment in the region.
“This move will allow us to bring more of our growing team under the same roof,” said Dan Curtin, New England Market Manager at J.P. Morgan Private Bank and Vice-Chair of the New England Market Leadership Team. “We believe South Station Tower will not only enhance our ability to serve clients and attract top talent, but also contribute to the city’s ongoing growth and vibrancy.”
“Reflecting on our journey in New England, it’s incredible to see how much JPMorganChase has expanded and evolved over the years,” said Stephen Burbage, Head of Institutional Sales and Marketing in Boston for J.P. Morgan. “Our growth in the city has been remarkable—from a small team to a thriving presence that supports clients, communities, and businesses across the region. I’m proud of our continued investment in local talent, innovation, and community partnerships—ensuring that JPMorganChase remains a driving force in Boston’s ongoing success.”
Since 2019, JPMorganChase has committed more than $31 million to Boston-area nonprofit organizations focused on jobs and skills, small business growth, and financial health. The firm will continue to deepen its partnerships with local organizations to help bolster communities and advance an economy that works for all.
Located in the heart of Boston’s financial district, and directly atop the region’s busiest transit hub, South Station Tower offers unrivaled connectivity, world-class amenities, and high-performance sustainable design—creating a convenient and state-of-the-art workplace for JPMorganChase employees.
“JPMorganChase has been a trusted partner of Hines for more than four decades, and we are honored to continue that partnership at South Station Tower,” said Sarah Hawkins, Head of U.S. East at Hines. “Their commitment underscores the strong demand from top occupiers for highly amenitized, best in class office space with unmatched access to mass transit. South Station Tower is not only delivering an elevated workplace experience, but also playing a significant role in downtown Boston’s continued growth and revitalization.”
“We are pleased to support the development of South Station Tower on behalf of our client ABP,” said Steven Hason, Managing Directors, Head of Americas Real Assets, APG. “As a landmark, transit connected project in the heart of Boston, the tower reflects our commitment to high quality assets in locations with enduring demand drivers. We are delighted to welcome JPMorganChase to the building and are confident that its accessibility and future ready design will serve their teams, clients, and the broader community well.”
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362 billion in stockholders’ equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
Hines is a leading global real estate investment manager. We own and operate $91.8 billion1 of assets across property types and on behalf of a diverse group of institutional and private wealth clients. Every day, our 4,600 employees in 30 countries draw on our 68-year history to build the world forward by investing in, developing, and managing some of the world’s best real estate. To learn more, visit www.hines.com and follow @Hines on social media.
As the largest pension services provider in the Netherlands APG manages approximately €590 billion (June 2025) in pension assets for 4.6 million participants. APG provides executive consultancy, asset management, pension administration and pension communication. With approximately 4,000 employees we work from Heerlen, Amsterdam, Brussels, New York, Hong Kong, and Singapore. We work for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. https://apg.nl/en
Dune Real Estate Partners is a New York City-based real estate investment firm executing a strategy focused on high yielding real estate equity investments resulting from capital markets dislocation, primarily in the United States. Dune manages the Dune Real Estate Funds, which are led by Mr. Daniel M. Neidich and Ms. Cia Buckley Marakovits and have raised more than $4.5 billion of equity capital to date. Dune invests on behalf of high-net-worth individuals, pension funds, sovereign wealth funds, endowments and other large institutions.
Justin Page
Justin.k.page@jpmchase.com
(603) 391-5891
Hines Press Office
pressoffice@hines.com
Dune Real Estate Partners/Reevemark
dunerealestateteam@reevemark.com
Includes both the global Hines organization and RIA AUM as of June 30, 2025
