Doesn’t the Federal Home Loan Bank Board Building exude a sense of history? This Classical Revival structure stands as a testament to a pivotal era in American history. It is located at 320 1st Street NW in Washington D.C.
Completed in 1928, the Federal Home Loan Bank Board Building was initially built for the Acacia Mutual Insurance Company. This company held the distinction of being the only federally chartered life insurance company. Imagine the hustle and bustle within these walls as the company conducted its business.
However, fate had other plans. In 1934, the Federal government acquired the building. This acquisition was to house the Federal Home Loan Bank Board. This is how the building got its current name in 1937. The Board was a crucial New Deal program. It aimed to support home ownership during the Great Depression.
The Federal Home Loan Bank Board Building became the headquarters for the Home Owners’ Loan Corporation in 1934. The Home Owners’ Loan Corporation was an emergency home mortgage refinancing agency. It was one of the federal government’s responses to the Great Depression. The building was expanded between 1935 and 1937.
Look closely at the facade. The exterior is covered with limestone. Classical details adorn the building. These details exemplify early-20th-century Classical Revival architecture.
George E. Mathews was the original architect. He was from the architectural firm of Hoggson Brothers. Louis A. Simon, from the Public Works Branch in the Department of the Treasury, designed the addition built from 1935 to 1937.
The interior also boasts notable features. The lobby is ornamented. This reflects the architectural style of the era. The building was a state-of-the-art Classical Revival office building at the time of its construction. Later additions even brought Art Moderne elements to its design.
The Federal Home Loan Bank Board Building served the Board until the 1970s. In 2007, the building was listed on the National Register of Historic Places. It is also on the District of Columbia Inventory of Historic Sites. Today, the Central Office of the Federal Bureau of Prisons occupies the building.
The Federal Home Loan Bank Board Building stands as a reminder of the New Deal. It reminds us of its programs and their impact on American homeownership. It is more than just a building. It represents a period of recovery and reform.