Chase bank is moving its downtown headquarters from the corner of Pikes Peak Avenue and Tejon Street four blocks north to its branch at Boulder and Tejon streets.
The move will also mean a $4 million facelift for the Boulder branch.
Chase market president John Kitchen said a need for more parking space and drive-thru lanes, which the Boulder branch has plenty of, drove the decision.
But, he also said the decision to leave the high-profile banking intersection of Pikes Peak and Tejon – where U.S. Bank and Academy Bank are located – wasn’t easy.
“The easy decision would be to just re-sign the lease, which ends in November, but the best decision for everyone was to move a few blocks away to gain the parking and drive-thru lanes,” he said. “There’s hardly any parking at the Pikes Peak location, and customers have been complaining about that for a long time. Ultimately, it became an easy decision at the end of the day.”
The Boulder branch closed today for renovation and will re-open again in the fall with a new façade. During the closure, the drive-thru island building in back of the Boulder branch will be open for businesses. When the new branch opens, staff and management will migrate from the Pikes Peak offices to the two-story Boulder branch.
Chase Business Banking and J.P. Morgan’s Private Wealth Management will operate out of the new location.
The move also is part of a growth push for north downtown.
Richard Skorman plans to open Conservation Hardware Center across the street from the Boulder branch, and the shops across the street from the Boulder branch at 401 N. Tejon St. were renovated last year. Ink and toner provider Cartridge World moved into the shops a few months ago.
Chase has 15 branches in El Paso County.