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United States Federal Reserve (Fed) Chairman Jerome Powell Provides Justification of $2.5 Billion Renovation of Federal Reserve Headquarters (Eccles Building & 1951 Constitution Avenue Building) Built in 1930s, Renovation Features Including Rooftop Spaces & Water Features Had Been Scaled Back or Removed Due to Higher-than-Expected Construction Costs
18th July | Hong Kong
United States Federal Reserve (Fed) Chairman Jerome Powell had provided justification of the $2.5 billion renovation of the United States Federal Reserve headquarters (Eccles Building & 1951 Constitution Avenue Building) built in the 1930s, with renovation features including rooftop spaces & water features had been scaled back or removed due to higher-than-expected construction costs. Goals – The Federal Reserve takes seriously the responsibility to be a good steward of public resources. The project will reduce costs over time by allowing the Board to consolidate most of its operations. It involves a complete overhaul and modernization that preserves two historic buildings that have not been comprehensively renovated since their construction in the 1930s and includes: 1) Remediation and updates to make the buildings safe, healthy, and effective places to work by removing asbestos and lead contamination, and accommodating modern workplace technology. 2) Complete replacement of antiquated systems such as electrical; plumbing; Heating, Ventilation, and Air Conditioning (HVAC); and fire detection and suppression systems. 3) Major structural work to bring the buildings up to modern code, including current accessibility, security, and safety standards … …The work will also restore and enhance space for the public along the National Mall.”
“ United States Federal Reserve (Fed) Chairman Jerome Powell Provides Justification of $2.5 Billion Renovation of Federal Reserve Headquarters (Eccles Building & 1951 Constitution Avenue Building) Built in 1930s, Renovation Features Including Rooftop Spaces & Water Features Had Been Scaled Back or Removed Due to Higher-than-Expected Construction Costs “
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United States Federal Reserve (Fed) Chairman Jerome Powell Provides Justification of $2.5 Billion Renovation of Federal Reserve Headquarters (Eccles Building & 1951 Constitution Avenue Building) Built in 1930s, Renovation Features Including Rooftop Spaces & Water Features Had Been Scaled Back or Removed Due to Higher-than-Expected Construction Costs
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