text: SOM's design, influenced by the Seagram Building and the firm's Inland Steel Building, was completed in early 1956. SOM submitted blueprints to the New York City Department of Buildings that February. At that point, The New York Times predicted the project would cost $75 million, which included the plaza's cost. The bank's board approved $75 million in March 1956 for the construction of the new tower along with a large public plaza. The bank planned to occupy  of the building and lease the remaining  to outside tenants. Guiton said the bank's board applauded the plans when they were approved. Shortly after, the plans were unveiled to the public. A scale model of the building and surrounding structures was displayed at 40 Wall Street's banking room during April 1956.
  Construction
  Construction on the tower began in late 1956. Before starting work on One Chase Manhattan Plaza, SOM built a one-story mockup with aluminum and stainless steel at Roosevelt Field. Of these, aluminum was used for its cost and appearance, despite both materials performing similarly. A groundbreaking ceremony for the building was held on January 28, 1957, with the first ceremonial scoop of dirt being excavated by Chase Manhattan's longest-tenured worker. At the time, the total cost was estimated at $121 million. This cost included $94 million for construction, another $16 million for utilities and land acquisition, and $11 million for furniture. According to Newsweek, as a result of Chase Manhattan Plaza's development, planners had created blueprints for $225 million worth of new developments in the Financial District.