JPMorgan Agrees to Fund Transit Upgrades Near New Headquarters
- Bank responds to request from city officials amid growth plans
- Firm would fix Grand Central train shed below its office
Photographer: Ron Antonelli/Bloomberg
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JPMorgan Chase & Co. agreed to contribute to transit improvements near its expanding midtown Manhattan headquarters after city officials called on the company to shoulder more of the costs of its growth.
The bank said it would fund enhancements at Grand Central Terminal, including upgrades to the train shed, which is below the JPMorgan site and in need of rehabilitation. The contribution would also help pay for a new entrance to Grand Central at 48th Street, said Janno Lieber, the Metropolitan Transportation Authority’s chief development officer.