200,000 square-foot refurbished and expanded National Landmark building is ready to re-open its doors
SEATTLE – October 8, 2020 – Seattle-based developer Martin Selig Real Estate in partnership with the Seattle studio of global architecture firm Perkins&Will today announced the completed modernization of the Federal Reserve Bank building in Seattle.
Originally built in 1950 for the Federal Reserve Bank, the building has been refurbished and expanded as a 13-story 200,000-square-foot Class A office building. The renovation includes two levels below grade and four levels above grade plus the addition of seven new floors encased in a striking glass jewel box constructed above the historic building. Breathtaking views of Puget Sound and the city can be enjoyed from the floor-to-ceiling glass and outdoor terraces.
“The Federal Reserve Building is a very attractive piece of real estate with its rich history and prime location in Seattle’s Central Business District,” said Martin Selig, founder of Martin Selig Real Estate. “We’ve gone to great lengths to preserve the architectural elements and balanced them with modern amenities to appeal to today’s office tenant. It is a privilege not only to have this iconic property in our portfolio but to continue telling its story for generations to come.”
Recognized as both a Seattle Landmark and listed on the National Register of Historic Places, the beautifully repurposed Federal Reserve Building offers tenants a refined taste of Seattle history and a view to the future, 70 years after its initial development.
“We are honored to have been part of the revitalization and transformation of an iconic building. The restoration and addition breathe new life into a once abandoned relic in a way that simultaneously respects our history and is ambitiously forward-looking,” said Erik Mott, principal and design director for Perkins&Will and lead designer for the Federal Reserve Building’s modernization.
To date, Perkins&Will has designed four completed buildings for Martin Selig Real Estate. The firms currently have seven more projects under way.
Originally founded and developed as the workplace for notable government tenants, including the Federal Reserve Bank and the FBI, the Federal Reserve Building is steeped in unique historic details—from a below-grade shooting range to two massive bank vaults within the heavily reinforced steel structure. The steel vault doors, which weigh 60,000 pounds and stand eight feet tall and more than 30 inches wide were completely restored as a unique feature.
The restored historic lobby features refurbished original finishes, including marble walls, bronze elevator doors, and travertine floors, creating an elegant period feel at the entry to the building. All new mechanical, electrical, and plumbing systems, including elevators, were installed as well as structural and seismic upgrades to strengthen the historic building and cladding and to support the vertical addition.
Many exterior amenities were also provided in the restoration and addition process, including an outdoor plaza where the jewel box addition meets the existing structure, a rooftop deck, and The building’s exterior is complemented by a landscaped plaza that includes public art and seating areas, as well as new skylights to bring daylight to the tenant spaces below plaza level.
The Federal Reserve Building is conveniently located near many of the city’s prime attractions, including Benaroya Hall, Seattle Art Museum, Seattle City Hall, Seattle Justice Center, Seattle Central Library, and downtown regional sports venues. A myriad of retail stores and dining options surround the building, as well as various transit options, including Sound Transit light rail, Metro bus stations, and the ferry terminal.
About Martin Selig Real Estate
Since 1958, Martin Selig Real Estate has been creating custom workspaces for some of Seattle’s most innovative companies. With more than 30 compelling office properties throughout Seattle and dynamic projects underway, Martin Selig Real Estate works with tenants from a wide variety of sectors. The company’s high-touch service comes with each its properties, from an in-house construction team that handles custom build-outs, architectural planning and budget development, to around the clock operations response and in-house landscaping services.
Perkins&Will is an interdisciplinary, research-based architecture and design firm established in 1935. Founded on the belief that design has the power to transform lives and enhance communities, the firm collaborates with clients all over the world to create healthy, sustainable places in which to live, learn, work, play, heal, move and explore. More than 2,600 professionals across over 26 Perkins&Will design studios include some of the brightest minds in architecture, interior design, branded environments, urban design and landscape architecture. Clients consistently turn to the firm for leadership in areas like sustainability, resilience, health and wellness and mobility. Additionally, Perkins&Will’s Research Labs innovate design technologies and solutions that result in better, smarter, more competitive built environments. In 2018, the firm was named one of the World’s Most Innovative Companies in Architecture by Fast Company, and is consistently ranked among the world’s top design firms.
The Seattle studio of Perkins&Will was established in 2004 and has grown to more than 100 architects, interior designers, and planners. The studio has built a legacy of award-winning projects that exemplify a commitment to design excellence and sustainable development. Its multi-disciplinary work spans nearly every sector including higher education, healthcare, corporate, commercial, civic, and science and technology.