The City of London’s ambitious plans to rehouse JPMorgan in the Square Mile have run into protests from the Barbican’s residents’ association. Financial Times
The local group, one of the most vocal in City development, has complained about the plans, which go out for public consultation today.
If planning consent is granted, construction on the US investment bank’s new European head office could begin this year. The plans include demolition of one of the Barbican complex’s popular high walkways.
'This project seems to be about giving JPMorgan what it wants to stay in the City,' said David Graves, chairman of the residents’ group. 'Right from the beginning, for instance, we made it clear we wanted to retain the high walkway access.'
The debate highlights the difficulty facing the City of London in keeping both its residents and corporate occupiers happy. But it will be particularly unwelcome, given the fight that the City waged to keep JPMorgan in the area against enticements from Canary Wharf.