In line with the Bank of America’s renovation of the HBO Building at midtown Manhattan, the company is planning to move more of its staff in six other major hubs.
According to Yahoo, the renovation project will be completed by 2020, which means staff needs a new office for more than two years. About 13,000 New York employees will move to six properties clustered within the Avenue of the Americas at the 6th Avenue, New York.
The move to renovate the existing buildings is to modernize the look of the bank and offices. Since open floor plans are common, the Bank of America has made a decision to redesign its offices. Space will offer more ‘flexibility’ in terms of team collaboration as well as allowing independence in the workplace.
The Bank of America has done renovations since 2010, with nine offices in the US, Europe and in some Asian countries. It has reduced its real estate portfolio of about 80 million sq ft from 120 million sq ft.
In 2020, after the renovation is already completed, most New York-based employees will occupy the buildings.
According to the Market President of BoA, Anne Walker, “These investments [renovation projects] will create an integrated and innovative workspace and allow for even greater collaboration across our teams.”
Environmental concerns are also part of the decisions of why the BoA has decided to renovate its headquarters. In partnership with Brookfield Property Partners and The Swig Company, the new buildings will incorporate solar power technology and recycling materials.
Collaborative features of the new buildings are also expected to rise, with a wellness center for employees, dining options, unique spaces and other on-site amenities.
The BoA’s Tower at One Bryant Park acquired the first commercial high-rise LEED Platinum Certification back in 2012.