Longboat Key will soon have a new retail bank

Construction of a new retail bank on Longboat Key is underway.

A branch of JP Morgan Chase will be located at 545 Bay Isles Parkway in the Shoppes of Bay Isles center.

The bank is expected to open this fall, said Mike Fusco, a representative for JP Morgan Chase.

The 3,113 square foot building will feature two drive-thru spots, as well as 34 parking spaces.

The project was approved by the Planning and Zoning Board in September 2016, and the Town Commission in November 2016.

A building permit was issued for the property on March 14, and construction began last week.

Construction value is listed at $1.4 million.

The new Key location is part of an ongoing JP Morgan Chase bank branch expansion in Florida. The company plans to open 11 banks in the state this year.

Since 2008, Chase has added nearly 250 branches in Florida and now has 398 total across the state.