Chase leaving ‘banking’ intersection for greener parking pastures in north downtown

Filed under: Daily News | Tags:,
Chase will spend $4 million to upgrade its branch at Boulder and Tejon streets, where the bank moving its downtown headquarters.

Chase will spend $4 million to upgrade its branch at Boulder and Tejon streets, where the bank moving its downtown headquarters.

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.”

Chase is moving from its downtown headquarters from Pikes Peak and Tejon.

Chase is moving from its downtown headquarters from Pikes Peak and Tejon.

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 Chase branch at Boulder and Tejon streets will close tomorrow for renovatons and re-open in the fall.

The Chase branch at Boulder and Tejon streets will close tomorrow for renovation and re-open in the fall.

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.

One Response to Chase leaving ‘banking’ intersection for greener parking pastures in north downtown

  1. JP Morgan Chase has received $25 Billion in tax payer dollars through the TARP funds. And one of our local branches is going to spend $4 Million to move and renovate a new facility. All because they don’t have a few parking spaces and drive through lanes.

    Wake up you corporate slouches. We are in serious economic times. People can park and walk.

    This is a perfect example of wasting money on unnecessary moves and the reason that this bank is really insolvent on its own.

    How about they just give $2 cash to every customer to pay for parking. They could dole at 1,000,000 – 2hr parking subsidies and still come out $2 Million ahead.

    You don’t have to look to Wall Street to see wasteful, unnecessary, corporate greed in action. You can go right downtown!

    Sam
    March 20, 2009 at 1:21 pm